It is now 2009 and depending on who you speak to regarding the future economic situation in Australia, you will hear a variety of different answers. In my view, I believe the worst is yet to come and I think 2009 is going to be a year off despair for many Australian businesses. I think what we have seen to date is no where near the worst of it and people who say otherwise are only avoiding the truth, 2009 will be a great test for many.
Now in any economic downturn there are usually businesses who actually benefit, fast food outlets such as McDonalds are a good example as people look to save money by eating cheap takeaway. Like McDonalds I think that many Australian and International online businesses will actually benefit as well, as people look to save cash by buying from online retail stores who have less overheads and are usually much cheaper opposed to your local bricks and morter retailer.
According to Hitwise, traffic to the Appliances and Electronics sector in Australia grew by 27.2% comparing December 2007 to December 2008, showing a massive increase in the span of just one year. It was also very interesting to note that the major driver for this traffic increase was paid search, many online businesses made big investments in paid search which goes to show a lot about the quality of this traffic.
I believe there is a major opportunity ahead for online business in Australia, and I predict the online shopping market will continue to hold strong in 2009 and into 2010, as many other big Australian retailers such as Harvey Norman continue to struggle.