The all-consuming rise of globalisation in the mid 1900’s happened to occur simultaneously with the rise of the internet, forever changing humanity within a blink of an eye. The internet was an overwhelmingly disruptive force for almost anything relating to the way we lived our lives.
Naturally, this new age also manifested itself in an element of our lives that we have been doing for thousands of years – consumerism. Hence, bringing about the world of online marketing and e-commerce. With the constant evolvement of technology specifically within the realm of the internet, it was inevitable that online marketing was destined to become a commanding force as it relates to goods and services.
The efficiency of online marketing is undoubtedly one of the most disruptive forces to traditional consumer shopping behaviour. This is because a consumer has a never ending array of options at their disposal, alongside the added element of browsing from the comfort of home.
The traditional method of sacrificing an entire day to going to a shopping centre is slowly becoming more of an anomaly. The burden of parking, not finding the exact item you are looking for and struggling to find an appropriate sale are wearing on people – particularly those under the age of 40. According to ‘Big Commerce’ 67% of Millennials and 56% of Gen Xers prefer to shop on online as opposed to shopping at a regular store, due to the efficiency
In addition, businesses in the last decade or so have come to realise the disruptive nature of online marketing, which has further emphasised their online presence. This entrenched presence of millions of businesses around the world have only added to the disruption of traditional shopping behaviours, as consumers have access to a range of options beyond their comprehension.
Businesses are recognizing this behavioral shift. Econsultancy reports that “74% of businesses say improving their ability to meet customer expectations is more important in online marketing than reducing IT costs (54%) and reducing the costs of doing business (62%).” As such, with overwhelming options businesses have become eager to outpoint their competition- resulting in them vying to provide cheaper and better quality goods and services.
As it stands, all indications point to the never-ending rise of online marketing in the face of traditional consumer shopping behavior. The disruption has truly arrived. As it relates to the Asia-Pacific region, there are definite signs which indicate the presence of an online boom over the past decade, especially in e-commerce. In fact, this part of the world actually has the largest online market globally and high levels of growth in the Australian ecommerce market have had a lot to do with this. According to a report by eMarketer, Australia’s total online sales are forecast to exceed $32 billion in 2017, putting it top ten in the entire world.
This trend is not only subject to the Asia-Pacific, but also on a worldwide scale. Global online retail sales are growing rapidly, and are estimated to reach 8.8% of total retail spending in 2018 as compared to 7.4% in 2016.