Just how important is ecommerce for the retail industry?
Retailers around the globe know how important ecommerce is for their businesses, but some may think that it could be a fleeting trend, meaning that merchants are not investing in solutions that meet consumers' online shopping needs. However, ecommerce is poised for even more growth in the future, and failing to implement systems that accommodate online patrons could spell disaster for companies.
As internet shopping continues to become more popular among customers, both through computers and mobile devices, merchants need to ensure they are adopting the right retail management software solutions that can provide consumers with excellent online experiences, helping to boost businesses' retention rates and bottom lines.
Q1 sees significant ecommerce increase
Over the past few years, retailers have seen large jumps in ecommerce within their operations, as shoppers have taken to the web to browse for and purchase products. Statistics from many organizations have highlighted this growth, including recent data from the U.S. Commerce Department. Internet Retailer states that the research from the federal agency revealed that online shopping during this year's first quarter increased 15.3 percent from the same time last year, representing a total of $58 billion spent through the web.
The source explains that these findings were generated from sales made on both computers and mobile devices such as smartphones and tablets. Mobile ecommerce is making its way to the forefront of the retail industry, as many consumers now prefer to use their devices to research and buy items from merchants. This practice is even found within brick-and-mortar locations, as smartphone-carrying shoppers are using gadgets to pay for merchandise at storefronts.
Practical Ecommerce reports that the IBM Online Retail Index found that mobile commerce grew 31 percent during the first three months of the year when compared to the same time in 2012. This jump has been brought on by individuals' preference for multichannel sales, IBM discovered.
"The shopping experience has evolved. No longer can we look at shopping in silos, or in terms of in-store versus online. Instead, we have to consider the convergence of these channels, as the digital consumer demands a truly digital experience," said IBM Global Retail Leader Jill Puleri, as quoted by the source.
To help meet customers' needs when it comes to online and mobile shopping, merchants should adopt retail management software platforms that can effectively control point of sales processes, sales orders and many other operational factors.
