Online retail has become the go to for consumers. And with the world at their fingertips, voucher codes, free delivery, returns and reward points on offer who can blame them?
With reported declining footfall on the high street what does this mean for the future of online retail?
Figures from The Centre for Retail Research state that the number of shop premises declined from 600,000 in 1950 to 290,000 in 2012 and is predicting that this will fall to 220,000 by 2020, with a further decline of 100,000 by 2030. While according to the IMRG Capgemini eRetail Sales Index £133bn was spent online with UK retailers in 2016. This was £18bn more than the amount spent online in 2015 and meant that the Index registered growth of 16% in 2016.
Companies are discovering innovative and new ways to meet consumer demands and finding new ways to outsmart their competitors. The way we shop is clearly changing dramatically, for example – in December 2016 sales made via smartphones were up 47% YoY from 2015.
Online reviews have become the new word of mouth, with 88% of consumers treating these like a recommendation from a friend, your reputation online can now be detrimental to your business if quality customer service is not delivered.
And, with the rise of bloggers and vloggers driving a new online platform for advertising and promotion, consumers are getting their information from alternative sources they deem trustworthy.
Our latest Purple Paper – To Buy or Not to Buy – That is the Online Question, looks into the changing face of retail from a marketing perspective. It provides insight into consumer behaviour online –why, when, how much and how they spend, and how you can ensure your business offers a strong online presence. What really influences digital shoppers to head towards the ‘Buy Now’ button? And perhaps more importantly how do they arrive at that point in the first place?
To find out more and view our latest ‘Purple Paper’ contact: Rhianon, Lynne or Naomi on 0118 920 7675 or firstname.lastname@example.org.
Our consumer lifestyle digital PR team specialise in connecting everyday brands with everyday people across four core sectors; Consumer Lifestyle PR, Food & Drink PR, Online Retail PR and Sport, Health & Wellbeing PR. More information on these areas of knowledge can be found at www.escapadepr.com/about-us.