8th May, 2014 4 Min read
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One of the keys to E-commerce are Internet marketing, automated data collection systems and mobile commerce. Mobile shopping retail sales in the US are currently $70 billion worth. Goldman Sachs Group Inc. projects a growth to $173 billion by the end of 2018. The retail sales through the 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 2018’2 29%, making E-commerce practically the 1/3 of all retail sales in general.
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This shows that online retailers should focus on:
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.
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 Internat market is still developing, which is logical. Indian E-commerce is expected to grow from nowdays’ $13 billion to $50-$70 billion in 2020. Research also shows that more than 60% of retailers use social sites such as Facebook to market their products and start a customer interaction. Retailers should test their mobile sites (and optimize mobile website performance) and always be two steps ahead.
A very significant phenomenon developed in 2013: consumers who only use mobile devices (smartphones and tablets) to shop online.
E-commerce and digital marketing teams increasingly understand that they need to drive sales in a channel-agnostic way. Scott Falzone, industry director of retail specialty at Google, noted that particularly among multichannel retailers, “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.”
E-retail reports 2009-2016 suggest a steady growth:
As of 2014, worldwide retail sales are more than $1 trillion worth, and are growing at a steady 19.4% annualy. E-commerce is growing every year, slowly wiping out traditional ways of purchase. Buying things online is simply more and more handy, giving consumers more insight to what they’re buying and practically delivering it to their doorstep. Traditional retailers need to step up and boost their online services and go full mobile, but that’s just the beginning – desktop and mobile websites need to be as fast as possible to meet the expectations of their visitors, otherwise, conversion rates, user experience and overall brand satisfaction can cause serious harm to sales and ROI.
As a final note, we bring two fantastic presentations about the future of mobile commerce and how internet / mobile / ecommerce consumption will change in the next decade. The question that still hangs in the air for all e-commerce owners: Are you ready for mobile shoppers? Or more important: Is your mobile store fast enough to satisfy your shoppers?
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