How to buy your way to better prices and less hassle in the cross country retail world
Retailers across the country are increasingly relying on the cloud and apps to deliver better prices to customers, with retailers seeing a surge in revenue in 2017.
A study by Deloitte found that in the last four years, online retail has seen revenue grow from $3.2 billion to $4.1 billion, and cross-country retail has grown from $1.3 billion to more than $2.8 billion.
“Cross-country retailers have seen a 20 per cent growth in revenue across their product lines, from e-commerce to online to wholesale,” the study said.
“While cross-commerce has been growing, the retail business in general is growing, and this is reflected in the total revenue generated across all the products and categories.”
One area where retailers are getting better at selling is in freight, where the average cost per item has decreased from $4,000 in 2015 to $3,000 this year.
The average cost of freight is about $10,000 per truck, and there are some good reasons for that.
“There is a growing demand for cross-border freight and the cross-state freight market is becoming increasingly competitive,” Mr Poulsen said.
Retailers are also looking to reduce costs for customers and to be more efficient, as freight costs have fallen in the past two years.
“Our research shows that retail prices in Australia are up and cross border prices are down,” Mr Bongiovanni said.
However, he said the rise in cross-national freight prices was a result of the cost of doing business in Australia.
“The cost of selling your goods to cross-continental buyers is generally lower than the cost to Australia,” he said.
Mr Bongo has been working with his business partner to reduce freight costs.
“We have reduced the freight cost to $300 per truck,” he explained.
“This means that we have to pay the freight in the US, which means we have the cost for the goods to the US and then it costs us to ship it back to Australia.”
We’re paying about $300 more than what we would have paid in the USA and so that means the cost is actually lower in the retail sector, so that’s why we’re seeing a 10 per cent increase in the freight costs.
In the e-book and e-toy sectors, e-books accounted for more in the market than any other category in the first half of 2017, with e-readers and eBooks, eBooks and other related goods accounting for more of the retail market. “
In the cross goods and apparel industry, cross-competed products account for more than 80 per cent of the cross market and cross market prices have risen by over 50 per cent in the same period,” the report said.
In the e-book and e-toy sectors, e-books accounted for more in the market than any other category in the first half of 2017, with e-readers and eBooks, eBooks and other related goods accounting for more of the retail market.
Retailing also continues to grow in the telecommunications and telecommunication services, with total revenue up 16 per cent to $1 billion.
That’s partly due to the growth in the number of retail stores, and also to the strong start to the year for retail services in the country, as the economy has started to pick up, according to the report.
“A significant portion of the growth was driven by a number of different industries, including retail, and we are now seeing a trend for a broader category of retail services to emerge, which is expected to see greater growth in 2019,” Mr Moller said.
With the increase in cross market price, retail businesses have seen their profits double over the last five years, according the study.
“For a lot of retailers, this has been a significant growth driver over the past decade, and for the sector to sustain this growth, it will require further investment,” Mr Fonseca said.