Jewellery and accessories have boomed too, with a 31% increase in revenue per store. Fashion’s getting increasingly competitive as more stores continue to open and have seen a slight dip in revenue.
Automotive was the best performing industry category, with 89% growth in revenue per store. This year we can expect to see the strong demand for aftermarket parts and accessories continue.
Jewellery and accessories have boomed too, with a 31% increase in revenue per store. Fashion’s getting increasingly competitive as more stores continue to open and have seen a slight dip in revenue. So, if you’re a fashion label looking to go online, it might be best to start with accessories before expanding into the more competitive apparel market.
Think big, stay small
Small businesses and micro businesses can be a huge advantage against the big online sellers. Computers and electronics stores run on Bigcommerce beat JB Hi-Fi’s online sales in 2013, toy stores sales were above those of Toys-R-Us and LEGO, and sporting goods stores were ahead of the Australian online recreation retail industry.
However, the big retailers maintained dominance in the books, music and movie category. Netflix, iTunes, and Amazon has had a huge impact on small businesses who’ve experienced a 14% drop in revenue. These business owners should do the research to make sure they have a clear market difference or they specialise in a particular niche.
For more info, check out the infographic below: