E-commerce has been rapidly growing and it’s expected to hit $327 billion by 2016, up from $202 billion in 2011.
The increase of mobile as a major shopping channel is putting new power into consumers’ hands. Customers are expected to use all channels as though they are a single experience, requiring tight integration across those channels.
70% of consumers research online before purchasing in-store, and the average shopper uses approximately 10.4 sources of information, such as conversations on the web, to make a purchase decision.
44% of total retail sales will be impacted by the Web in 2016, while online retail sales have increased to reach $327 billion. Mobile traffic is growing dramatically, and it’s estimated that in that commerce on smartphones is expected to skyrocket from $3 billion in 2010 to $31 billion in 2016.
Technology exists to enable retailers to collect and analyze the massive amounts of data that consumers are generating with every click and tap and even physical movements in stores. So retailers can successfully have the ability to target and personalize their marketing campaigns based on granular data about customer preferences, behaviors, lifestyles, and real-time locations.
For more information, please download “The Top 5 Consumer-Driven Trends in Retail, Q3 2016” full report.