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It's no secret that online shopping is on the rise. A recent study by Forrester Research found that U.S. online retail sales will reach $523 billion this year, up from $389 billion in 2014. That's a growth rate of 34 percent, compared to just 2 percent for overall retail sales. So it's no wonder that retailers are scrambling to adapt to this new reality and stay competitive.
What is driving the growth?
What is driving the growth of online retail? There are a number of factors, but one of the biggest is convenience. Consumers love the fact that they can shop from anywhere and at any time, without having to leave their home. Plus, online shopping is often cheaper than buying things in stores, and it's a lot easier to find what you're looking for. Another reason for the growth of online retail is the rise of mobile commerce. More and more people are using their smartphones and tablets to shop online, and this trend is only going to continue.
What are the benefits?
There are numerous benefits of online shopping. Here are just a few of them:
- Convenience – Online shopping is the most convenient way to shop. You can do it from anywhere, at any time, and you don't have to leave your home.
- Often Cheaper – Online retailers often have cheaper prices than brick-and-mortar stores. This is because they don't have the same overhead costs, such as rent and employee salaries.
- Variety – Online retailers offer a much wider selection of products than brick-and-mortar stores do. This is because they don't have to limit their inventory to what will fit in their physical space.
- Ease of Use – Shopping online is very easy for the end customer.
How to succeed in online retail
In order to succeed in online retail, you need to be aware of the factors that are driving the growth of this sector. You also need to have a strong online presence, and provide a good user experience.
First and foremost, you need to offer a wide selection of products. Your customers should be able to find anything they want on your website. You also need to have competitive prices, so that you can attract shoppers away from brick-and-mortar stores.
Second, you need to have a strong online presence. This means that your website should be easy to use, and it should look professional. You also need to make sure that it is optimised for mobile devices.
Third, you need to have a good user experience. This means making sure your customers can easily check out, and it also means being proactive about addressing problems that come up. For instance, if people are having trouble checking out, you should have a well-trained team of customer service representatives who can help resolve these issues quickly and efficiently.
The benefits of online retail are many, but there are also challenges that come with this shift. For instance, it is important to be aware of the factors driving the growth in online sales and how to succeed in this area. It's no surprise that people want convenience; however, they still appreciate a good customer experience (such as helpful customer service representatives or easy checkout) when shopping for products. If you're looking for help managing your eCommerce store or marketing strategy, reach out to us today! Our team has years of combined experience designing successful SEO campaigns and digital advertising strategies that take into account what customers really think about when making purchase decisions.
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