It has been a strong year for retailers with an online channel - eCommerce sales grew 20%, year on year, in November as reported by IMRG, the British association that specialises in online retailing.The US and UK remain dominant, but China is very quickly catching up with sales growing by more than 130% year on year.
As we have seen very clearly during 2013 - online shopping presents new opportunities across a global market place. Trust and confidence in online purchasing is growing and consumers are content in parting with their cash card details in the hopes of securing deals and bargains online. Interestingly retail purchases made on tablets and smartphones instead of PCs grew at a rate of 63% in November with Thanksgiving, Black Friday, and Cyber Monday.
Retail companies that succeed over the coming three years will be those that put the customer and the complexities of their decision making process at the heart of their strategy. Only then can you look to recognise and adapt to multi-channel, offering consumers what they are expecting – a platform for browsing, researching and purchasing great bargains! No easy feat at all.