What Holiday E-Commerce Can Teach You about Your Business
HolidayE-Commerce
According to a comScore recent report, people are doing their holiday shopping online more than they have in recent years. This year’s spending, from Nov. 1st-Dec. 2nd, was an astounding $14 billion. That’s up 17% from the same time frame last year. We’ve also recently seen the invention of “Cyber Monday”; the online shopping cousin to “Black Friday”. Sales on “Cyber Monday” were up 21% from last year, totaling $733 million. Even the traditional “Black Friday” sales were affected by e-commerce, with $531 million of total sales coming from online shopping. But this must be due to the fact that people just want to avoid the holiday crowds right? Wrong.
Overall Trends in E-Commerce
Another comScore report shows that U.S. Retail E-Commerce Sales in October 2007 was up 19% from last year, to a total of $10 billion dollars. Forrester Research also estimates that by 2008, online retail will account for 10% of total U.S. retail sales, reaching almost $230 billion.
So What Does All This Mean for Your Business?
This isn’t just a trend in holiday shopping. More and more people are choosing to shop online, mostly because of convenience. Online shoppers are able to shop around for the best price, have the product delivered to them, and read all kinds of reviews about what they’re buying before they commit to purchasing. If your business is in the market of selling goods and tangible products, it’s more important than ever to have an e-commerce capability built into your website. The days of people buying mainly from brick-and-mortar stores is fast changing, and your company needs to be able to give the consumer what they want, when they want it. Make sure your company isn’t missing out on sales! Contact us to discuss how an e-commerce system can be built into your website.
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