US ecommerce continues its strong growth
American consumers are increasingly using the internet to purchase items and services, whether from retailers who maintain brick-and-mortar locations along with websites or merchants that have online storefronts only. There are a variety of reasons as to why the purchasing methods is becoming more popular – it provides more convenience, saves shoppers large amounts of time and allows for easier product and price comparisons. As the economy prepares from the coming new year and the holiday season, retailers will want to turn more attention to their online channels as sources of incoming revenue.
Ecommerce rises in third quarter
Internet Retailer cites a recent study by comScore Inc., which revealed that third quarter online retail sales reached a total of $41.9 billion, representing a 15.4 percent increase from the same time a year ago. This is the twelfth quarter in a row that web purchases have seen year-over-year improvement. There were several sectors that experienced more growth than others during the third quarter, comScore found. These include consumer electronics, computer software, apparel and accessories and event tickets – all of which increased by at least 16 percent from the same time a year ago.
While there are still many consumers and businesses that are not incredibly optimistic about the economy, comScore stated that the confidence among customers has already begun to improve, as conditions continue to get better. The company believes that this positive outlook will keep its momentum, as both shoppers and retailers prepare for the holiday season, states the website.
“Such performance offers some optimism as we approach the holiday season, especially given recent improvements in consumer sentiment,” said comScore chairman Gian Fulgoni.
Holiday sales and ecommerce
When it comes to ecommerce in this year's fourth quarter, the holiday shopping season is expected to boost web purchases significantly. According to Forbes, a recent study by Forrester Research anticipates that internet retail sales will reach $68.4 billion over the coming weeks, as consumers buy gifts and other associated items. This represents a 15 percent increase from the same time in 2011.
However, Forrester stated there are several trends that merchants need to be aware of if they want to see large rises in their holiday revenues. Shoppers are going to be on the lookout for special deals and discounts online, as they want to save money while also purchasing the products they need and want. Free shipping will be a major factor when it comes to ecommerce, as customers are more likely to do business with retailers that offer this element.
