The Risk & Reward of Online Buying
Announcement posted by Luxehome.Shop 16 Jun 2020
The Risk & Reward of Online Buying
In today’s world, post Covid19 we saw the way we bought things change dramatically. We were challenged daily to work from home in a happy and harmonious way with our better halves and rather than that 9 to 5 grind we were doing 7 til 8 -more or less- but doing so much more in those hours than we’ve ever done before!
We’ve got fitter, our dogs are happier from all the walking we’ve done and we’ve eaten better being that the restrictions made us get creative in the kitchen!
But we’ve also got creative in other ways to fill those hours in between working and that is online shopping.
It also depends on if you’re a man or a woman as to what type of discretionary spending is occurring and what age group you fall into. Illion and Alpha Beta are reporting that those accessing their Super early over the last few months are showing real discrepancies between the sexes as to how we spent it. Women focused on essential items for themselves and their families however men spent it on discretionary items including a huge gambling spike. That said, regardless of what you are purchasing, we have all embraced the online shopping world launching us into the new world 2020 and beyond.
Interestingly the size of the market for online furniture, we are seeing the US spend $114 billion within their furniture retail market. The US furniture industry has been on a steady growth curve driven by a strong economy, with consumer spending on furniture reaching $114.2 billion in 2018, up 6.7%, according to the US Bureau of Economic Analysis (BEA). Whereas in Australia Ibis World reports industry revenue is expected to rise at an annualised 13.8% over the five years through 2019-20, to $678.5 million. I am confident we will see Covid 19 statistics reduce the gap between the US and Australia as our confidence in ordering online grows with each delivery.
The restrictions placed on us really forced our hand as to how we get our essentials or for the shopaholic that retail hit and our preconceived understanding of the internet and online shopping was explored with reticence and in some instances complete fear as to our online safety. Fear is the biggest issue for someone to push that button to complete the sale hence why there is also a stack of abandoned baskets across all online providers.
For the online shopper we must look to what is behind your online experience as to what any business must do within the Australian online shopping platform before they’ve even taken your sale.
Those unseen processes that you, the shopper, are so unaware of such us setting up the backend processing of your credit cards are enormous! The due diligence from the Banks and contracts the Australian banks put in place to take your details and to process as a sale – let me tell you – the jumps and hoops you must traverse as a business are large and for the Australian shopper so reassuring that they are in place!
The other hurdle that online businesses face are the Afterpay, Zip and Humm Terms and Conditions that you must abide by. The checks and balances again on your business and as you as a Director of the business are immense and again a fabulous foundation on which the online buyer can be confident in.
The Australian buyer is so astute in what they want at what price and in that colour and in that size yet get to the checkout and pause…concerned to take the next step.
Asking is this business legitimate? How do I know? What is protecting me?
It’s fantastic to have that pause and to ensure they are buying from an Australian based business but when you see credit cards accepted, Afterpay, Zip or Humm in place, let me tell you, your good to go!
Lou VanG is the CEO and Co Founder of www.luxehome.shop - a one stop shop for all your luxury furniture and homeware needs. We source all our products from Australia's leading manufacturers and import wholesalers who do not deal directly with the general public. As their key partner, we are able to offer you, under one umbrella, the very best from their designer ranges and all at exceptional "direct to public" prices. We collate the best our importers have to offer and bring these to market to you at the best possible price. We only deal in quality product. Our choices are very selective covering all styles and tastes with an emphasis on luxury normally the domain of professional interior designers - all delivered to your door !
Sign up for membership and specials on luxury today
https://www.luxehome.shop/membership/
In today’s world, post Covid19 we saw the way we bought things change dramatically. We were challenged daily to work from home in a happy and harmonious way with our better halves and rather than that 9 to 5 grind we were doing 7 til 8 -more or less- but doing so much more in those hours than we’ve ever done before!
We’ve got fitter, our dogs are happier from all the walking we’ve done and we’ve eaten better being that the restrictions made us get creative in the kitchen!
But we’ve also got creative in other ways to fill those hours in between working and that is online shopping.
It also depends on if you’re a man or a woman as to what type of discretionary spending is occurring and what age group you fall into. Illion and Alpha Beta are reporting that those accessing their Super early over the last few months are showing real discrepancies between the sexes as to how we spent it. Women focused on essential items for themselves and their families however men spent it on discretionary items including a huge gambling spike. That said, regardless of what you are purchasing, we have all embraced the online shopping world launching us into the new world 2020 and beyond.
Interestingly the size of the market for online furniture, we are seeing the US spend $114 billion within their furniture retail market. The US furniture industry has been on a steady growth curve driven by a strong economy, with consumer spending on furniture reaching $114.2 billion in 2018, up 6.7%, according to the US Bureau of Economic Analysis (BEA). Whereas in Australia Ibis World reports industry revenue is expected to rise at an annualised 13.8% over the five years through 2019-20, to $678.5 million. I am confident we will see Covid 19 statistics reduce the gap between the US and Australia as our confidence in ordering online grows with each delivery.
The restrictions placed on us really forced our hand as to how we get our essentials or for the shopaholic that retail hit and our preconceived understanding of the internet and online shopping was explored with reticence and in some instances complete fear as to our online safety. Fear is the biggest issue for someone to push that button to complete the sale hence why there is also a stack of abandoned baskets across all online providers.
For the online shopper we must look to what is behind your online experience as to what any business must do within the Australian online shopping platform before they’ve even taken your sale.
Those unseen processes that you, the shopper, are so unaware of such us setting up the backend processing of your credit cards are enormous! The due diligence from the Banks and contracts the Australian banks put in place to take your details and to process as a sale – let me tell you – the jumps and hoops you must traverse as a business are large and for the Australian shopper so reassuring that they are in place!
The other hurdle that online businesses face are the Afterpay, Zip and Humm Terms and Conditions that you must abide by. The checks and balances again on your business and as you as a Director of the business are immense and again a fabulous foundation on which the online buyer can be confident in.
The Australian buyer is so astute in what they want at what price and in that colour and in that size yet get to the checkout and pause…concerned to take the next step.
Asking is this business legitimate? How do I know? What is protecting me?
It’s fantastic to have that pause and to ensure they are buying from an Australian based business but when you see credit cards accepted, Afterpay, Zip or Humm in place, let me tell you, your good to go!
Lou VanG is the CEO and Co Founder of www.luxehome.shop - a one stop shop for all your luxury furniture and homeware needs. We source all our products from Australia's leading manufacturers and import wholesalers who do not deal directly with the general public. As their key partner, we are able to offer you, under one umbrella, the very best from their designer ranges and all at exceptional "direct to public" prices. We collate the best our importers have to offer and bring these to market to you at the best possible price. We only deal in quality product. Our choices are very selective covering all styles and tastes with an emphasis on luxury normally the domain of professional interior designers - all delivered to your door !
Sign up for membership and specials on luxury today
https://www.luxehome.shop/membership/