Ecommerce fast becoming a preferred shopping channel for consumers
In the past, visiting brick-and-mortar locations or browsing through merchants' catalogs were two of the top shopping methods used by customers. And while storefronts are still heavily preferred by many patrons, ecommerce is steadily gaining a foothold within the retail industry. With online shopping, consumers are able to research, compare and purchase products from any place and at any time, providing them with more convenience. This helps to boost customer retention and loyalty, meaning that merchants can leverage ecommerce solutions to increase their revenue.
As the shopping channel continues to grow, businesses that have yet to implement technology to provide Web options for patrons risk falling behind the competition. Fortunately, with the help of retail management software solutions, companies can ensure they are accommodating valuable customers who prefer to shop online.
Second quarter sees strong ecommerce growth
Recent retail sales data highlights the increasing importance of ecommerce within the industry. Internet Retailer reported that, according to statistics released by the U.S. Department of Commerce, there was an 18.4 percent jump in online sales between Q2 2013 and Q2 2012. This represents the strongest quarterly growth for ecommerce since the end of 2007, the source explained.
The source spoke with several retail industry experts to get their take on the uptick in ecommerce, and the majority asserted that the channel is here to stay. The news provider pointed out several reasons for the growing popularity of online shopping, one of which is social media. These networks give brands a valuable tool for communicating with patrons and promoting their products. Additionally, the source noted that mobile device point of sale solutions are encouraging more Web purchases, which is expected to continue into the future.
Ecommerce helping US economy
The spike in online retail sales is not only enhancing merchants' revenues, but it is also helping to improve the U.S. economy. A total of $64.6 billion was spent through the Web in Q2 2013, which is providing a boost to the nation's still-recovering economy. During the recession, many retailers saw their sales plummet, and although conditions are still not exactly where they were before the downturn, ecommerce is giving merchants a more optimistic outlook for the coming months.
