Mon 14 May 2007
Online Retail Still Growing Strong
Posted by Darin under Retail Blog Marketing , retail , Social NetworkingComments Off||Bookmark on del.icio.us|| Book Mark Anywhere||
So when did everyone get their first email address? ‘95? ‘97? Then when did you finally feel comfortable buying something online, giving out your credit card information without fear of getting your life stolen from you? ‘98 maybe? Back then, could you imagine purchasing the majority of what you buy online instead of in stores? If it’s not your reality now, it’s pretty darn close. Now, I bet you have absolutely no problem letting amazon or ebay remember your cc numbers. Simply amazing what can happen in 10 years.
Well, online retail has officially been around for 13 or 14 years, according to shop.org. And it’s not going anywhere anytime soon (obviously). But what’s really interesting is that it’s showing absolutely no signs of saturation whatsoever. In fact, according to Forrester Research, online retail grew 25% last year, and it’s expected to grow 18% this year.
What’s even more interesting is that the study doesn’t take into account buying decisions that are made online but made in brick-and-mortar stores. Buyers are increasing looking to blogs and other social media outlets to help them make decisions. So online retail will officially grow 18% this year, but what percentage of buying decisions will be made online? With the increasing popularity of blogs and video, online retail growth might be more than they expect.






