Posts tagged Online shopping
Because that is what consumers want.
Small brick-and-mortar retailers competing in local markets need pay attention to the big trends coming.
How do we know the retail market will change? All one has to do is look at the facts.Each quarter, more and more U.S. shoppers are purchasing products online
comScore just released its Q2 2012 U.S. retail e-commerce sales figures, showing that online retail spending reached $43.2 billion for the quarter, up 15 percent versus year ago and representing the eleventh consecutive quarter of positive year-over-year growth and seventh consecutive quarter of double-digit growth. This online trend is not a fluke.Consumers believe retail stores will become mini showrooms
A recent global study of 16,000 consumers in 16 countries by Capgemini uncovered that over half (51%) of respondents believe that in the next eight years retail locations will be showrooms for selecting and ordering products.Big box retailers are going smaller
Best Buy, Lowes, Walmart, Target have all announced plans to decrease the commercial footprint from the big box stores model to smaller urban center stores and even to regional mall kiosks in the case of Best Buy.Smarter shoppers through smart phones
Smart phones and retail apps have made shoppers smarter and more More >
I hear this all the time from the small local area retail owner.
The following infographic by Customer Magnetism should erase all doubts, if any still exist, concerning social media’s influence in business and on retail sales. Here are just a few highlights from the data below.
- Currently about 1/3rd (one-third) of the world’s population is online. That is the equivalent to 2.87 Billion people.
- Google remains the search leader and continues to report 20% of the searches a day use totally new search terms.
- More and more U.S. companies are taking social media seriously as its influence on purchasing behavior continues to grow.
- 2010 online sales are recorded as $150 Billion and are expected to grow 10% every year for the next five years.
- By 2014, it is estimated that over half (53%) of all U.S. retail sales will be online, or a total of $249 Billion, per the National Retail Federation.
These are some pretty impressive stats supporting the influence of social media on retail sales- not just in the U.S., but globally.
Regardless of the size of your retail business, you need to get engaged with some form of social media to have a fighting chance of getting your share of the online More >
comScore released its Q2 2011 U.S. retail e-commerce sales estimates, which showed that online retail spending reached $37.5 billion for the quarter, up 14 percent versus year ago. This growth rate represented the seventh consecutive quarter of positive year-over-year growth and third consecutive quarter of double-digit growth rates.
Per comScore Chairman, Gian Fulgoni, these double digit increases infer that
“consumers are continuing to shift to the online channel, with almost $1 in every $10 of discretionary spending now occurring online. E-commerce’s benefits of convenience and lower prices continue to be the drivers of the shift. At the same time, (more…)