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E-commerce Trends 2014-2018 Slower Growth But Still a Huge Opportunity

GlobalDots - E-commerce Trends 2014-2018 Slower Growth But Still a Huge Opportunity

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E-commerce Trends 2014-2018Slower Growth But Still a Huge Opportunity

Mobile shopping retail sales in the US are currently $70 Billion worth. Projection: $178 Billion by the end of 2018!

Retail sales through tablet are expected to tripple in 2018

The research shows that nearly half of the smartphone users have consulted their phones to find store info, such as location and working hours.

For retailers, a huge opportunity exists in how consumers use their mobile devices while they’re in the store.

The percent of total sales will jump from 2014’s 19% to 2018’s 29%, making E-commerce practically the 1/3 of all retail sales in general.

Keys to E-commerce:• Internet Marketing• Automated Data Collection

Systems• Mobile Commerce

So what should online retailers focus on?

1. Optimizing the tablet and smarthphone experienceRetailers need to invest in this area or risk chances of the associated revenue and customer engagement.

2. Connectiong stores with mobile marketingUsing SMS to offer coupons to drive store traffic has met with success in tests by companies like Staples and Ace Hardware

3. Marketing costumer „must have” services such as inventory stock availabilityA recent study by Hybris found almost three-quarters of shoppers rate inventory visibility as “critical to their purchase decisions”. Basically, if you don’t have inventory stock availability, you’re already way out of the game and you should catch up.

More Research

Of the 219.4 million internet users in the US ages 14 and older, eMarketer expects 196.6 million, or 89.6%, to shop online this year, compared with 163.2 million who will go on to complete a purchase digitally.This makes E-commerce a huge opportunity for any given retailer company with a great mobile site.

MORERESEARCH...

The same Accenture study found that 72% of respondents “showroomed,” or bought digitally after seeing a product in a store. Consumers, then, have merged online and offline into a single shopping experience.

The largest E-commerce growth is reported in China and India, while the countries such as Germany, France, UK, USA and such have the slowest growth compared to the countries where the Internet market is still developing.

World According to Ecommerce by Baynote.

2013 Phenomenon: Consumers who ONLY use mobile devices (smartphones and tablets) to shop online started to appear.

E-commerce teams increasingly understand that they need to drive sales in a channel-agnostic way.

Scott Falzone, industry director of retail specialty at Google:“their interest in digital is increasingly focused on driving customers and shoppers into their store locations as well as continuing to have a growing ecommerce and mobile commerce presence.”

Some E-retail reports (2009-2016)#1: US social commerce sales of physical goods through online social networks are projected to grow by 93% per year in the US, reaching $14 billion by 2015. The report is based on a survey in 2010 by the research and consulting firm Booz & Co, basically saying that 27% of shoppers are willing to buy through social media.

#2: Brazil’s online retail market is expected to increase by a compound annual growth rate of 17.5% over the next 5 years, meaning that the online sales will go up to $22 billion in 2016, putting it on an impressive growth rate, since it was only $7.9 billion worth 4 years ago.

#3: A research by the Forrester Research Co. also shows that the online retail sales in Europe for the last 6 years are constantly growing, but in a slower rate than Brasil’s online market. It grew from US $112.1 billion in 2010 to $184.6 billion by 2015, which rounds up to an annual growth rate of 10%. The number of online shoppers in the 17 European Union nations will grow from 275 million to 303 million by the end of 2015.

#4: As of 2014, worldwide retail sales are more than $1 trillion worth, and are growing at a steady 19.4% annually.

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