As a estore business owner running a small or medium sized or a big business, if you are on a plan for the short term future or longer, you may need some base for the same. This can be in form of survey inputs, discussions with people in power, statistics from professionals, ecommerce predictions and more. We are here bringing to you some predictions for store owners, in view of giving you a few insights on consumer spending, eCommerce evolution, people spending predictions, social media influence, upcoming traffic sources and more.
- Decline in mortar store sales: Today people are doing more of online shopping; even a grocery store digitised now and every small business bringing up a mobile app, we see a densely flourishing future for online stores
- Departmental stores recorded close to 19 billion in 2001 but just close to 14 billion in 2014.
- Macy, a departmental store headquartered at Ohio, U.S. says it closed 40 physical stores in 2016 and will close more in 2017
- Walmart says it would close more than 200 stores
- The sears closed over 200 worldwide last year
- Sales for internet retailers have gone up by 10% last year
- Non discretionary spending on housing, education, insurance and housing has gone up by 4% in personal consumption while the retailers providing discretionary facilities see a reduced spending by 500 billion dollars.
- Amazon has seen a 97% rise in sales in 2015 and sees so year over year!
- People in physical store queue compare prices and reviews online before they shop.
- Americans are spending the highest time on mobiles, around 4.5 hours in a day which is more than the people atleast in 11 countries around.
- 40% of U.S. Smart phone users in the age between 19-33 shop online.
- Two thirds of the U.S. digital shoppers browse online for coupons and discounts.
- Cyber Monday spending figures say smart phones account for 17% of the spending and mobiles do for 11%.
- Amazon has increased its Home Services to around 40000 zip codes making it to report a figure of 20% growth every month since its launch in 2015.
- Amazon fresh reports an amazingly high figure of 95000 fresh grocery and vegetable fruit products available for delivery on the same day delivery for orders before 10 am and for the next day if placed later.
- Amazon prime fresh is available in Boston, Seattle, California, New Jersey just for $299 per year.
- Amazon prime membership in U.S has raised to 54 million in 2015 which is 1 in every 5 customer.
- Amazon prime members spend an average of $1100 a year and non members do around 600.
- Young people between 25-35 years of age did more food shopping online.
- Amazon is breathtakingly having more than 1/5th of the online food and beverage market.
- Average shopping basket total online is around $157 which is almost three times the average store trip.
- Online shopping sales in U.S would reach more than $500 billion by 2020 which is a 56% raise from 2015.
- 26 million more mobile shoppers would be seen by 2020.
- Personalisation is eCommerce future. 65% of the retailers online personalise. 11% of the eCommerce store revenue is attributed to personalised items in 2015.
- Mobiles contribute to 29% of eCommerce transactions in U.S and to 34% worldwide.
- An average eCommerce site has 1-500 facebook fans.
- The average value of a visit from facebook is four times that from twitter.
- 65% of mobile traffic is from iPad and iPhone.
People buying products post their reviews immediately on social media.
Online retailers sometimes deliver products to bulk purchase customers sometimes on the same day.
People find online product research more convenient, they say they get much more information than what they get talking to the store guys and say it’s comfortable to depend on online reviews just to be too sure on the buy.
Fashion retailer Gilt says it’s mobile account customers are making about 50% of the day to day traffic and thus contributing to 30% of the total sales.
Hope this is a big list to grasp within!
The conclusion here goes to say that mobiles, tablets, social media connect, innovation, groceries online, personalisation of products and deliveries, amazon are all dominating the eCommerce world today in U.S and worldwide. If you aspire to conquer the business world, make sure to be more innovative everyday and keep up with the trends. Ask us if you wish to have details anywhere in eCommerce or for facelift services.