So, how much do you think the average consumer will purchase online this year? $100? That’s so last decade. Try $1042.00. That’s right; Americans who buy online will spend just over a grand this year on e-purchases. That’s millions of dollars here in our own community that local people used to spend here in our local stores that is now being spent on line.
The Question is, how much of this are you getting?
The answer, sadly for most local businesses is, none. At least none directly. People may still go to your site, check out what you have and decide to come to your brick and mortar store rather than buy online. But the online buying trend is rising so rapidly, anyone who owns a retail business has to be concerned. Sure, not every product is suitable for e-commerce. But that’s changing as well. My wife has purchased clothing and shoes on line. Sizing can be a problem with clothing, but companies are working on solving this problem, and delivering a more accurate and predictable sized product, or making it easy to make returns.
Look around. Borders is gone. Best Buy is struggling. And everyone else is seeing customers come in, looking at products, then pulling out their smart phones and getting an internet price and placing the order online.
Revolutions are happening all the time. We are in the middle of one right now. Those who adapt will win. Adapt.
Find out how we can help you on our website here.
Buying stats are an April 2012 report from global investment management firm, GroupM.