Web 3.0: Increase In Online Retail Sales Parts Clouds
Although we've all tried to move past the dismal results of 2008, especially its closing months, there are some comparatively promising results buried in the clouds that could brighten up retailers' businesses this year.
Let's first take a look at retail holiday sales.
According to various reports, retail holiday sales were down seven to eight percent while online retail sales were down only one to two percent. Online traffic actually increased one to four percent, which reflects consistent and uninterrupted growth. That trend should continue: Forrester Research reported that U.S. online retail sales are projected to rise to $156 billion in 2009, an increase of 11% over 2008.
The nearly universal appeal of online shopping is intuitive. Convenience, easy product comparison, and even the high cost of gasoline have all played a role in driving consumers to shop online. For most multi-channel retailers, their e-commerce site has been their top-performing 'store' for years, often generating more than ten times the revenue of their brick-and-mortar stores.