Friday, December 9, 2011

44% of all retail sales would be web-influenced by 2015

It’s estimated that web-influenced sales will generate almost $1.13 trillion in U.S. sales this year and, by 2015, will represent approximately 44% of total retail sales, or $1.55 trillion. Moreover, even though e-commerce sales are growing at a fast clip (10% annually), cross-channel commerce is growing even more rapidly, and is estimated to grow to five times the e-commerce market by 2015.
"To survive in the long-term, local retailers will have to ensure their products show up online, that the site reflects accurate availability, and that the online and in-store experiences are as seamless as possible," said Lew Kornberg, managing director of corporate retail solutions at Jones Lang LaSalle. "The rewards are direct — not only do shoppers come in for the researched product, they also stick around to buy other items once in-store."

Forrester Research reported that 45% of shoppers interviewed said they bought extra items once in a store, spending, on average, $154 on additional purchases.

Other major trends include:
  • Consumers' increased reliance on their smartphones and tablets as an in-store shopping companion will motivate retailers to improve their mobile retail websites and capabilities and add mobile loyalty programs;
  • Amazon.com's entrance into the designer fashion market with high-end fashion items, an online style guide and fashion recommendations based on previous choices will raise the stakes in this sector as the online retailer giant leverages its easy-to-shop, hassle-free reputation with fashion-forward consumers, eBay also launched its fashion outlet this year, offering savings up to 70%; and
  • Consumers are splitting their grocery budget and time among several types of food retailers, from wholesale clubs to organic supermarkets to regular grocery stores. Mid-market chains, most squeezed by this trend, are responding by adopting one of two strategies — upgrading their shopping experience with increased organic selections or focusing on bargains.

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