Online Sales are Taking Over
The way online retail sales are increasing each year it won’t be long before they are the largest portion of retails sales. Right now, online retail sales account for about 8-10 % of total retail sales. However, web influenced sales are about 44% of the retail sales at traditional retail channels. As the internet population increases you’ll see shift in those numbers and when the “techno kids” become adults in a few years the shift will be even bigger than expected. Online stores sell everything from health foods and prescription drugs to handbags, Ford Parts and Nissan Parts for your car. Amazon and eBay are the big players right now and have become household names. Think about the thousands upon thousands of online stores where you can browse and buy. Which one will emerge as the next big player in the marketplace?
The current numbers that we see reported may very well be skewed downward because some brick and mortar retailers do not separate out online sales when they report their sales each quarter. Macy’s the owner of Bloomindales however, is ahead of the curve. They know the importance of their online sales because it’s those very sales that have allowed them to grow; even in a down economy. So when other brick and mortar retailers realize the importance of this segment of their sales the reporting will be better and the numbers will grow even more.
Online sales have grown for many reasons some which have to do with lifestyle. We have become a society of convenience and what could be more convenient than shopping while you sit on the couch at home. Technology of course is another factor in the growth of the online retail sales boom. It has never been easier to get online and it has never been easier for someone to start an online store and sell whatever they want. Technology has improved the security for funds transfers and when consumers feel comfortable and secure they will shop. Mobile devices are capable of browsing the internet and applications added to your I-phone can help you do comparison shopping right from your phone.
The retail sales market is not the only business that has changed because of the increase in online retail sales. There is a ripple effect with marketing and advertising companies. New ideas and innovation in reaching the consumers has made it much easier to get the message out to a target audience either online or through their mobile devices. The whole landscape of retail including advertising, marketing and delivery of services is changing fast. As technology changes the industry will undergo more changes. The numbers grow each year the changes assist in the growth. The whole industry is like a perpetual motion machine. The train is coming down the tracks and there’s no way to stop it! So we should embrace the changes and even marvel at what is happening because the world has never seen anything like it before.