First the $1 trillion part: According to a recent report from eMarketer, ecommerce topped the trillion-dollar mark for the first time in 2012.
This was not a one-time fluke, or even something unexpected, on the contrary, this number is expected to rise: The National Retail Federation and Shop.org both reported that eRetail spending grew by 15% over 2012.
ComScore recently reported that ecommerce represented 10% of all discretionary dollars spent in 2012 and that web sales for 2013 are expected to increase from 9 to 12%
How can you get your slice? Truly, a trillion dollar question. We have prepared some tips that can help you on your way to having your pie and eating it as well.
Videos are a powerful way to showcase products on an ecommerce website, and savvy online retailers are discovering ways to get the best return on their investment in video.
For example, videos can help improve SEO campaign results, and user-generated videos can help boost conversion rates.
Almost every type of website you visit these days features video prominently, since website visitors and shoppers have a growing appetite for video.
It’s more engaging for website visitors, and tells a brand or product story in a more immersive way than text and images do.
Australians spent $504m on group buying sites in 2012, a rise of 1.4% on the year prior, leading some industry experts to predict that group buying is here to stay.
According to a new Telsyte study, in Q4 2012 Australians spent more than $130m on group buying sites and the combined revenues of the top five deal sites saw a growth of more than 9% year-on-year.
Groupon and Scoopon showed the strongest performances, seeing a combined 40% year-on-year rise.
Pricing items in online retail store can be a pain. It can take hours of tedious manual work, and it's always a trial and error experiment as you never know which price is just the right one for your products.
You know that you need to have some sort of pricing strategy in place for you online store and we know that you do, but is that strategy costing you?
When a retailer or brand decides it's time to replatform their ecommerce website, many will opt to embark on an ITT process (Invitation to Tender).
This can involve two or three distinct phases: RFI (Request for Information) and RFP (Request for Proposal).
A recent Gartner press release suggested a major change in the way we might interact with ecommerce in within the next few years. Their prediction is that by 2015 fully half of retail customer identities will be based on social network identities. The report’s main thrust is on the impact of this shift on IT and security infrastructure, but what is much more interesting is the potential for a more direct connection between purchase and social identity.
The logic behind this potential growth is the frictionless “log-in with Facebook or twitter” option that allows customers to skip the laborious sign up or registration process. But the obvious question that arises is: What happens when social identity becomes purchaser identity? When you consider the potential meshing of purchase data with social data there appears to be a huge opportunity here for e-commerce sites to improve sales and build loyalty.
The posh set may still lord their smart handbags, pricey silks, and Ibiza getaways over the masses in the offline world, but in digital it’s a different story.
Online, luxury retailers struggle to keep up with the Kmarts and J.Crews of the world. In fact, according to a recent study by L2, one in five luxury brands still lack ecommerce capability, and 30 percent of them have yet to incorporate basic site search.
Carousels on ecommerce sites are now commonplace, but are they useful for retailers?
In theory, they offer a chance for sites to put multiple messages in prime postion on homepage, but there are drawbacks.
I've been looking at the potential problems with carousels, as well as asking ecommerce professionals for their views...
Improving your online store requires many things, but nothing is more important than understanding why people buy.
Online retail psychology, while different from the psychology of instore shopping, is an age old subject with people at the heart.
Recent research from MIT, Facebook, Google and Target has analysed the core reasons people shun instore and buy with a click.
The seven most popular reasons for conversion are...
Given the surge of ecommerce and the collapse of Blockbuster, HMV and Jessops, it seems bricks and mortar shops may eventually disappear.
As technology and delivery mechanisms improve, will we become a nation that stares at a screen, clicking away with a cup of tea?
Online shopping is convenient and simple. The way we research and buy online may be changing, but the High Street can still play a major part in this development.
Technology can enhance and rejuvenate bricks and mortar shopping, creating an interactive and enhanced shopping experience.