An independent study has found that only 15% of Australian online retailers offer same day shipping option to their customers.
Faster shipping options can assist Australian online retailers to grow their sales and revenue during online shopping events such as Black Friday and Cyber Monday, says the study.
Conducted by the Pacific Consulting Group, the study analysed the websites of 250 Australian online retailers with a focus on various factors, including checkout process and the shipping options offered to customers.
The study also analysed the price of shipping, speed of service, payment options, and the returns process.
According to the study, around 55% of websites are offering a choice of shipping speed to customers while 50% are offering free shipping above a certain value of goods.
It also noted that 25% of the websites offer a free return option for their customers.
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In addition, the median price for standard shipping is $7.95, express delivery is $10.99, and same day delivery is $14.90.
Pacific Consulting Group senior partner and study author Christopher Kernahan said: “We found large variations in the definition of ‘express’ shipping. Our survey of customer sentiment shows that unless you are offering your customers one and two day shipping, it doesn’t count as express.”
Commenting on the study, Australia Post Group chief operating officer Bob Black noted that merchants and service providers should invest and adapt to changing consumer expectations.
Australia Post said that it is investing an additional $300m to enhance its Premium and Express Post networks.
Black added: “Speed of shipping is a big driver for sales through eCommerce merchants. What this study shows is that more eCommerce merchants could be offering an express shipping option to their customers, especially as take-up during online shopping events such as Black Friday and Cyber Monday grows, and of course, through the peak Christmas shopping period.
“What we currently call ‘express’ shipping will become the default standard for eCommerce over the next five years, and merchants who don’t offer an express option to their customers face the risk of being left behind.”