If you are thinking about shopping online for the items you need on a daily basis, you're not alone! According to the U.S. department of commerce, U.S. online retail reached $175 billion in 2007 and is projected to grow by $335 by year 2012. E-commerce clearly continues to thrive, even when traditional consumer spending is off at brick-and-mortar shops. Business to consumer, or better know as E-commerce continues its double digit year-over-year growth, in part because sales are shifting away from stores and in part because online shoppers are more confident with the whole process of buying online.
Today more than ever online store-owners are busier than ever meeting the demand of a maturing market. "Almost any transaction you can think of can now be done online -from consumers paying their utility bills and people buying books, movies and clothes, to major corporations paying their vendors and selling to their customers." ~ Secretary of Commerce Gary Locke
There are some trends that marked years 2008 and 2009 regarding E-commerce and will certainly will continue to do so in 2010:
- Social media marketing has been the new way to advertise for retailers.
- Price comparison sites.
- Ebay went through big changes in 2008 allowing small retailers to increase sales.
- Many retailers offer free shipping, attracting more consumers to their online store.
- Customer reviews have helped consumers make a decision towards their purchase with the addition of videos, pictures and 360 views.
- Affiliate marketing increases traffic to the retailer's website.
- International sales are increasing day by day.
After all, online shopping is fast and convenient, opening a new world of merchandise and services for families and businesses!
