The number of customers is effective in expansion of market size. The number of customers from different age groups who use online shopping is increasing rapidly around the world. In 2008, 64% of Australians who use the internet used it for purchases compared with 61% in 2006 (Australia in the digital economy 2010). This will increase the number of sales which will positively affect businesses. Ruslan Kogan is a retailer who has just a website to sell products. Kogan sold 100,000 products around the world in 2006 when his website was launched. One of the ...
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...line retailers compete to get consumers’ loyalty because that will increase their market share. Walker says that there is a relation between loyalty and the development of market (Apostolou 2011, p.34).
In conclusion, the internet has penetrated people’s lives and the number of internet users has increased exponentially in the last few years. People have used it in many different ways such as online shopping which becomes a good way to buy and sell products. Also, online shopping will change the future of economic growth for the better. It develops the economy by expanding the size of market, finding creative ways for advertising and making companies produce diverse products. Therefore, retailers should move with the times to get good profits. In the near future, Australia’s economy will be prosperous, because of online retail which will be in every business sector.
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