Tag Archives: ecommerce

Ecommerce Hit Milestone

Digital commerce, fueled by growth in mobile purchasing, hit a huge milestone last year.  In 2012, B2C ecommerce spending totaled on $1 trillion globally.  New research has come available that shows it’s not even close to slowing down.

shutterstock_111037535● From 2011 to 2012, global ecommerce grew 21% to reach $1.2 trillion

● By 2016, ecommerce is projected to hit $1.5 trillion worldwide

● In North America, digital spending grew 14% to nearly $365 billion.  Next year it is expected to expand to over $400 billion

● The number of digital buyers in the US is expected to grow from 150 million last year to 175 million in 2016

● China is expected to see the greatest growth.  Ecommerce is projected 65% from 2012 to 2013 and the number of digital customers will rise by nearly 25%

What Does This Mean To You?

What does your ecommerce strategy look like?
Digital purchasing, mcommerce in particular, is rapidly changing and growing. Having a strategy is important, but making sure it’s scalable is equally important.  Things like mobile point of sale will have a dramatic affect on how your business operates.  The international adoption of digital purchasing may open new markets for your business as well.  While we can’t predict the changes that may occur, being nimble and being able to quickly pivot is something that could give your company a competitive advantage in the future. For more information on how to capitalize on ecommerce growth, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Supervisor
407-420-5702
afiala@orlandosentinel.com

Source: Emarketer

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M-commerce Activity On The Rise

Lots of consumers made mobile purchases this holiday season.  The top of mind purchase power of mobile devices ensures that m-commerce activity is anything but a fad.  A new report has been released that shows just how big m-commerce was last year.

shutterstock_98997599• In 2012, $25 billion in spending was done via mobile device

• That’s an 81% growth over 2011 and it accounted for 11% of total e-commerce revenue

• This year, mobile is anticipated to account for 15% of the e-commerce total

• Over 20% of consumers used a mobile device to buy something in December of 2012 – that’s an increase of 55% from last December

What Does This Mean To You?

Mobile devices are moving from a research tool to an acquisition tool.  Consumers are using them not just to find out about products and compare them – more and more are completing their purchase via mobile device.  Consumers are starting to expect m-commerce options on mobile sites.  Having a mobile site gives you the ability to make a sale when products are top of mind with consumers.  If you don’t have an m-commerce option, 2 bad things can happen.
1. The shopper could decide they don’t want or need the product
2. They make the purchase from one of your competitors, possibly leading to a long-term, loyal relationship.
M-commerce options close the loop and make a convenient way for you to fulfill your customer’s needs.  For more information on how mobile can increase your revenues, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; eMarketer

Mobile Banking Set To Grow Greatly

Mobile devices have become our go-to tool for many different activities that directly affect the operation of many businesses. The next horizon looks to be mobile banking. A new report chronicles just how many consumers will be using mobile devices for banking over the next few years.

shutterstock_92978851• It’s estimated that globally nearly 600 million mobile device owners will engage in mobile banking in 2013

• By 2017, that number is expected to grow to one billion users, or 15% of all mobile device owners

• The US, Western Europe and China are expected to be the leaders in mobile banking

• Many financial institutions are becoming more mobile-ly engaged. Recent research showed that banks are allocating nearly a third of their marketing budgets to mobile.

What Does This Mean To You?

There are 2 takeaways. The more functions that mobile devices perform, the more important they become to users. The second point is mobile point of purchase. The ability to make a purchase with a mobile device opens up a world of convenience for consumers. It also could make in-store shopping easier & quicker while stemming the “showrooming” tide. It would be wise to start looking into mobile point of sale options for your business. As the activity starts to spread, it could become one of the convenience issues that pushes consumers towards one retailer vs. another. For more information on how to make more revenue with mobile, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Mobile Commerce Daily; Juniper Research; Forrester Research

Why Your Web Site Is Important

Think of how many digital entities your business may have. Besides your web site, you probably have a Facebook page, maybe a twitter feed or a Pinterest board. You may have a presence on a local review site or electronic listing page. That doesn’t even count the amount of user generated content that could be floating around. Consumers can probably find you in many different places – some you control and some you don’t. Recently released information shows the sources that online shoppers trust when researching products to buy. This information is extremely important in making sure potential customers get the right information about your business and the products you sell.

shutterstock_90091774• Nearly half of online shoppers said that a manufacturer or brand’s website was their most trusted source of information

• More than one-third said that they put trust in articles they found from a search engine

• 31% said that they trusted experts on certain topics

• Over 20% said that mainstream news sites were trustworthy for brand information

• Roughly 10% put their trust in links friends posted on social networks or information from blogs

What Does This Mean To You?

Overall, nearly 95% of consumers said they trusted some kind of online information when making online shopping product decisions. The question is how do you make sure they are getting the right information about your organization.

• Employ a robust search strategy – Your website is the most trusted source for online shoppers. If you don’t have a strong search strategy, who knows what potential shoppers may see when they enter your name into a search engine

• Monitor your social reputation – Social media can be a great referral tactic and engagement tool. But if consumers are seeing negative information about your business, there is a good chance they will not do business with you

• Utilize testimonials – Testimonials can be very powerful. While you may not be able to get experts to extol the virtues of your business or product, people trust the opinions of others. If you have a loyal customer, it would be beneficial to incorporate kind words from them in your web site. Also, treat social media “likes” as virtual testimonials. Because their social friends and followers will see it as well, a “like” or positive post can influence your perception among a large group of potential shoppers

• Dot your Is and cross your Ts – When was the last time you took a critical look at your web site?
Is it outdated?
Is all the product information current?
Can people easily find your contact information?
Are there typos?
Is it easily navigated?

Your web site, in many ways, is your front door to many consumers. You need to make sure it’s easy to find, easy to navigate and potential shoppers can easily see the value of all the things you have to offer. For more information on strategies to help you create a stronger ecommerce revenue stream, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: nRelate; eMarketer

Why Consumers Are Using Mobile Devices In-Store

In many studies, the top reason consumers are using their devices in-store is to comparison shop. This is the first step in “showrooming”. While it would be near impossible to stop customers from “showrooming”, it is not the only reason why consumers engage in mobile activity while shopping. A new report looked at reasons beyond comparison shopping and found takeaways that could help your business retain more in-store sales.

shutterstock_107546720• Nearly two-thirds of 18-34 year olds and over half of 35-49 year olds used a mobile device for shopping related activities. Even one-third of Baby-Boomers did the same

• 46% of 18-34 year olds and 36% of 35-49 year olds said it’s faster to use their mobile device to find product information than ask a store associate

• Just one in five Baby-Boomers said it was easier to get information off their mobile device vs. a store associate

• Baby boomers are four times more likely to increase their spending when assisted by an associate than by consulting self-service technology

• Overall, nearly half of consumers reported that a helpful associate motivates them to spend more in-store

What Does This Mean To You?

Customer service may be one of the keys to minimizing “showrooming”. While it will probably never eliminate it, a great consumer experience will help keep spending in your physical location. In fact, an educated, helpful staff could lead to customers spending more money.
What training does your staff undertake?
Do you have a staff training plan for ongoing learning?
How knowledgeable are they about the products you sell?
Would you consider them a helpful resource for shoppers?
An investment in training will pay off in saved sales. In tomorrow’s post we’ll look at how store associates feel about mobile, technology and its impact on customer satisfaction. For more information on the best ways your business can employ mobile solutions and keep more sales in-store, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: Motorola

Holiday “Showrooming”

“Showrooming” is becoming a problem for many retailers – especially the big box variety.  Best Buy in particular felt an impact this holiday season.  Best Buy estimated that upwards of 40% of their physical store traffic has no intention of making a purchase – they are there to “showroom”.  According to a recent study, there are some interesting comparisons on how consumers used mobile devices this year vs. last year.

b7_cart_concepts_2011_b5v2• Nearly three-quarters of smart phone owners made a holiday purchase on their smart phone this year, that’s a jump of over 25% year over year

• Almost eight in 10 tablet owners made a holiday purchase this year, a slight increase of 7% from last year

• There was a slight decline in the amount of desktop machine owners making purchases – evidence suggests that they switched to a mobile device to make a purchase

• Nine in 10 smart phone owners have “showroomed” with their devices; over half of tablet owners have done the same

• Men were 17% more likely to “showroom” than women

What Does This Mean To You?

Mobile devices are a part of our everyday lives.  Every day, new apps, new functions and improved user experiences push consumers towards mobile.  While you can’t stop people from using their devices in stores, you can harness the power of mobile and use it to your advantage.
Mobile enabled loyalty programs and in-store mobile experiences can keep you competitive and your store top of mind.  Excellent customer service is also something that can give you the advantage over another store or an online competitor. In tomorrow’s post, we’ll look at why consumers use mobile in store and how some retail executives plan to use mobile to make a better experience for their customers.  For more information on creating effective mobile strategies, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: TechBargains; Best Buy

Creating A Better Ecommerce Experience

Earlier this week, we posted research on how digital drove holiday sales. As we move forward into 2013, many businesses are planning to make their ecommerce platforms more robust. This information can keep you digitally competitive this year.

shutterstock_111037535• Over one-third of retailers worldwide plan to add How-To information or tutorials to their sites in 2013

• Over 30% are adding online videos

• 28% will be adding blog posts to their ecommerce solutions this year

• More than a quarter of global businesses will incorporate articles and
press releases

• 20% are including a twitter feed to their buying platforms

What Does This Mean To You?

When you keep visitors engaged, they spend more time on your site. Anytime you can keep visitors on your site longer, you greatly increase the chance they will buy something from you.
Isn’t the reason you have an ecommerce solution is to make more revenue?
Video’s, tutorials, blogs posts, articles and social media are great tools to help your business more effectively engage customers and create a better user experience. Since it’s your site, you can control the content. Leverage the content to put your store and the products you sell in the best possible light. For more information on how to direct more potential buyers to your site, please contact your Orlando Sentinel Media Group representative or:
Al Fiala
Advertising Research Manager
407.420.5702
afiala@orlandosentinel.com
www.orlandosentinel.com/mediakit

Source: eMarketer; SU Systems