Retail ecommerce sees significant growth, expected to continue in 2013
Research has revealed that consumers went online increasingly over the past few years to browse for and purchase retail products. This behavior is forecasted to see significant growth in 2013 and the years beyond, as shoppers begin to prefer the convenience and efficiency of web transactions. What this means for merchants without an existing internet storefront or those that need improve upon their current ecommerce methods is that now is the time to consider effective ecommerce strategies. Failing to implement options for consumers who prefer to use the web for shopping could result in patrons going to competitors, leaving businesses to see declines in retention and loyalty.
More than $180 billion in ecommerce in 2012
According to a recent study by comScore, for the fourth quarter of 2012, approximately $56.8 billion was spent online for retail merchandise. This represents a 14 percent year-over-year increase in ecommerce purchases. Overall, consumers bought $186.2 billion worth of retail products through the internet in 2012, a boost of 15 percent from the previous year. There were several sectors that saw more growth than others last year in terms of ecommerce, including consumer electronics, books and magazines, apparel and accessories and toys, the report states.
“2012 was a year in which – for the most part – ecommerce continued to grow strongly, despite an uneven macroeconomic environment showing signs of recovery but also cause for continued concern,” said comScore chairman Gian Fulgoni. “With e-commerce growth rates consistently in the mid-teens throughout the year, it is clear that the online channel has won over the American consumer and will increasingly be relied upon to deliver on the dimensions of lower price, convenience and selection.”
More ecommerce increases in 2013
The growth of ecommerce is expected to continue into 2013 and the following years, according to research from the National Retail Federation (NRF). The organization forecasts that retail sales through the internet this year will jump between 9 percent and 12 percent from 2012’s totals. This will be boosted by increasing consumer confidence and shoppers’ preference of digital channels for reviewing and buying items.
To help improve online storefronts, Promotion World offers a few suggestions for retailers, including implementing clean web elements into their sites. This will make navigation easier for customers and simply transactions. In addition, making sure consumer inquiries and issues are handled quickly and effectively fosters satisfaction.
