Ecommerce to soar by 2013

Australian consumers and their smartphones are driving the country's ecommerce growth, with a new study predicting online commerce will grow at 12.2 percent throughout 2012.

The report shows that smartphones are increasingly prevalent among Australian consumers, accounting for 65 percent of the total handset market, and that they are heavily used to conduct online transactions. "Consumers are connecting through local, digital, social and mobile channels that add relevance and convenience to their lives," Feller said. "Smartphones are accelerating the path to purchase by becoming a virtual store in our pockets, enabling consumers and merchants to connect in new ways."

Last week, a innovation study showed Australian retailers understood the potential of online commerce and were ready to invest money in innovation that would allow them to expand their business online.

Feller said merchants should invest on new business models. "Through new technologies merchants have opportunities to fast track the 'place' of purchase and generate new revenue streams. In the last year we have seen a wealth of new business models emerge, that are re-defining the point of purchase," he said.