For some it is too late; however for most retailers there is still a great opportunity, but they have to really put their heart and soul into Digital Marketing, and do it now. It is not yet too late to get a fully enabled online store up and running, but the strategic planning needs to start now, today.
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The retail industry is going through a torrid time at the moment, and when talking to struggling retailers, the first thing they do is blame e-commerce for their downfall. Deep down though, I think they know that if they didn’t embrace e-commerce 5 years ago, it was an opportunity lost to them.
For some it is too late; however for most retailers there is still a great opportunity, but they have to really put their heart and soul into Digital Marketing, and do it now.
Online shopping is growing 19 times faster than trade at traditional retailers, official figures show – from BBC website. More than a quarter of all UK purchases are conducted via the Internet, it is becoming ever more important for retailers to have an effective presence online.
This exceptional growth came alongside a surge in consumer confidence in online shopping, and reflects the fact that buying online is up to six times faster than visiting bricks and mortar stores. Increasingly, cash-rich yet time-poor individuals are realising that online shopping offers them the opportunity to purchase at anytime, from the comfort of their home and without the drama of full car parks, bustling crowds, inclement weather and heavy bags.
Super Fast Broadband
A major facilitator of the boom in e-Commerce has been the growth of UK broadband, which has changed the way we buy online. Both business and consumer uptake is at record levels, with demand outstripping supply in many areas.
The Opportunity
By offering a level playing field, the Internet provides a tremendous opportunity for smaller retailers to compete with larger organisations, and to increase their sales. What’s more, with the substantial increase in Internet usage and a fall in the cost of selling online, over 70% of e-commerce sites are now profitable. Despite this only 3% of firms are selling their products and services online, meaning a huge missed opportunity for retailers to increase their sales, customer base and profits.
An Essential Ingredient
At the very basic level the Internet has become the first port of call for customers looking to find information, and to purchase both goods and services. In today’s ‘on-demand’ society customers are demanding more choice and opportunity… it’s no longer about what retailers think they need, but about what potential customers want.
As a result, a professionally designed web solution coupled with an effective digital marketing strategy including Social Media and Email Marketing, has become essential for any business to cope with and understand these demands.
Do it NOW
There has never been a better or more opportune moment for retailers to take their first steps online or to upgrade their existing e-commerce capability and Digital Marketing Strategy, to ensure that it generates as many sales as possible.
It is not yet too late to get a fully enabled online store up and running, but the strategic planning needs to start now, today.
Do you have a digital marketing strategy? You need one, whatever your business. If you need to know more, ask me. Contact us, or leave a question below.
