E-commerce sales continue to soar!
Saturday, July 12th, 2008Here is an interesting snippet from a recent Kiplinger Letter, that talks about e-commerce and growing Internet sales. These figures do not surprise us, as we have seen many of our client’s website sales grow significantly over the past several years. However the statistics actually pan out, one thing is for sure, there is a very bright future for online retailers and e-commerce!
“Online retail sales will soar 16% in 2008 to about $200 billion. Then growth will slow, leveling off at 10% per year by 2012. The number of shoppers will rise only 2% a year, but they’ll buy more… some, much more. Half of online shoppers account for two-thirds of sales.
Big gainers in the next few years: Luxury goods, such as jewelry. Competition will get tougher as retailers dress up Web sites to improve presentation and create a distinctive shopping experience. More will feature demonstration videos and three-dimensional photos.
One way to boost your online sales: Focus on abandoned carts. It’s a big issue for retailers that do a good job of luring customers and getting them to fill their carts but then fail to complete the sale.
Fewer than 3% of online shoppers actually buy when they visit. The majority put products into their carts but then leave them there…”
