After the recession of 2008, sales have continued to increase for both brick-and-mortar stores and online stores. Most retailers discount online sales and think of it as an activity that is “not worth my time.”
However, online sales are accelerating at a significant pace. Before, people were hesitant to shop online due to privacy reasons. many people were afraid to use credit cards and reveal personal information.
However, online stores have introduced better return policies, faster delivery and some of them offer free shipping. This has attracted a lot of consumer traffic toward online stores. Moreover, online stores have started operating in different niches and they offer a variety of styles within one category of consumer goods nowadays.
Online Sales in the USA
According to a Forrester report, online sales in the US are expected reach $370 billion by 2017. One of the most famous online retailers in the USA is Amazon. Apple and Wal-Mart are big names as well in other online shopping stores of USA. Online sales were even increasing and doing well during the years of recession.
Moreover, the US population has taken more and more to work from home which has decreased commuters on the road and added positively to the green movement. As more working people stay home, they are making major purchases from online stores. Online sales hit a boom during the holiday season as well. you can find great deals from the online retailers that attract huge consumer traffic.
Online Sales Around the World
The rest of the world has also seen an increasing trend of online shopping. Countries around the world that have seen a boom in online shopping include United Kingdom, India, Germany and Brazil. The biggest example of a worldwide retailer is Amazon. Amazon started as an online book retailer from Seattle.
Amazon spread its wings from books to other large variety of consumer goods including electronics. The success was so huge that now, Amazon is leading online retailer around the world and is counted as number one on a global basis.
A huge boom in online sales has also been witnessed in the Asia region. China leads the Asia region in regard of online retailing due to the economic boom experienced by the country. It is estimated that China will have produced an eightfold increase in online sales by 2018.
Online sales have also increased as the stores have come up with mobile applications for the ease of online shoppers. With this convenience, people can shop on the go now. The most popular products that sell online include clothing, electronics and home appliances. However, regional differences are expected.
If you are a brick and mortar retailer, now is a great time to add e-commerce capabilities. This will increase revenue and profit for a relatively minor investment.