There has been remarkable growth of eCommerce in the last five years. According to sources, it has grown twice as fast as the total retail sales and predictions are it will continue to do so in the next five years. Forrester research speculates that by the year 2017, the Internet shall account for 10 percent of U.S. total retail sales and online sales shall reach around $370 billion from $231 billion this year.
But, online merchants must understand that this success hasn’t been achieved overnight. Further, the increasing growth rate is also an indication of the increasing competition in the Internet. Therefore, an online merchant should be aware of the trends that drive this growth. As for 2013, four pivotal trends have been suggested by experts that would rule eCommerce sales this year.
The Mobile Trend
mCommerce has taken spotlight in eCommerce. With the proliferation of mobile devices, more and more people are using their devices to shop or at least view products. Online merchants who are looking to reap rich dividends should certainly pay heed to this trend. If they are looking to maximize their profits, then they must ensure that their eCommerce site is optimized to perform well in the mobile devices. They may also like to present their stores in the form of apps to increase the convenience for their customers.
As a merchant, you must be having a vision to expand your online business. But, before going global, you must take advantage of the local market. It has often been seen that people who purchase online products tend to search for local sites first. Hence, this move is going to be extremely beneficial for small businesses that cater for niche markets. Also, if you can garner good reviews from your local customers, then it will definitely build a brand trust for your site. This brand trust will help you to catch customers when your site goes global.
Display of products has always remained a crucial factor for increasing sales of online stores. mCommerce has further necessitated the need of image optimization. Online merchants should keep in mind that eCommerce sites cannot provide the convenience of brick and mortar stores. It has been noted that online stores providing interactive product displays have received better response from visitors. eCommerce sites that were years old are reviving their site to give them a fresh look with better, optimized images. So, start paying heed to products’ display.
According to eMarketer, Asia-Pacific regions like China, India and Indonesia have emerged as good places to proliferate online retail sales. Therefore, if you are looking for quick expansion then you need to target these regions. However, in order to ensure higher rate of growth, you must also check out stuffs that are in demand in those regions as the ‘demand and supply’ factor would help you to gain extra edge over your competitors.
Keeping a close eye on the trends and inculcating those trends shall certainly perk up your sales. Besides boosting your revenues, it will also increase your brand image and help you to stay ahead of your competitors.