Australian Internet industry contributes $50 billion to GDP

According to research by Deloitte Access Economics, the Internet industry in Australia makes up $50 billion of our Gross Domestic Product (GDP).

This is the same size as the Australian Retail sector.

Many physical retailers are forced to come online now to protect their existing market share, creating E-commerce websites and advertising their products through social media channels to attract new customers.

As a result of a continued increase in Australian internet use – many companies are now looking at their business model and looking at how to further capitalise online.

Considering there are now 10.6 million Australian’s on Facebook, most large corporations are incorporating some sort of social media marketing strategy to grow their customer base, improve customer service and reinforce branding.

For example, Woolworths recently admitted that 1% of their sales comes from online purchases, but their successful iPhone application (and soon to be Android) will surely drive further online sales growth.

Look at your business, are you actively promoting yourself online and in social media?