If you don’t have a digital presence, you can’t be trusted, says the brain workout guru, junior escapologist and advertising executive Todd Sampson.
The Canadian born Australian gave his take on changes in the digital landscape today during Paypal Australia’s annual unveiling of its industry report Secure Insight: Capturing Digital Spend.
“The unwritten rule for a business or as an individual is that if you don’t have a digital footprint I instantly don’t trust you,” the Sydney-based CEO of Leo Burnett says.
“I instantly think you’re hiding something.”
Transparency for companies is also instant and in some way self-regulated through customers. If there’s something wrong, customers will be online saying so.
Sampson compared the current retail market today to the death of the dinosaurs 66 million years ago.
“The digital meteorite has already hit the majority of businesses in our country and around the world and most of them are already dead. They just don’t know it yet.”
Takeouts from Paypal’s Australian study:
• The Australian online retail market has grown at 11 per cent year-on-year since 2010 to $36.8 billion, compared to 2-3 per cent in overall retail.
• Mobile payments have grown by 5,614 per cent in three years to $2 billion, albeit from a small base of $37 million.
• 90,000 Australian merchants, up from 34,000 in 2010, now use PayPal. This includes Telstra which accepts PayPal for bill payments.
• Close to 5.5 million active Australian PayPal accounts, up from 3.4 million in 2010.
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