Category: Marketing Trends
Between 2001 and 2005, the growth in ecommerce sales increased annually at a rate of 26%. The online apparel marketplace, in particular, now seems to be changing, with more venues taking steps to expand competitive edge and consumership with online shopping carts stocked with items to meet special needs or buyer interests.
Some believe that ecommerce is maturing, but in some industries, the potential is just beginning to mature. The solutions are not so much brick and mortar, but multi-channel, coordinated outreach programs.
Bolt Media (bolt.com), a user-generated video, photos, and music website that has been around for 10 years, took a survey of its visitors, aged 12 to 34 years old, about their recreational time. Since the media is internet, it’s not surprising that the majority answered that they spend more time on the internet than on tv.
The visitors ranked their pasttimes in this preference order: internet followed by hanging with friends, third, watching movies, and lastly, TV watching.
One could argue that the media influenced the results on this, since the respondents were all Bolt frequenters, so heavily respresented by internet users.
But the question still needs asking, is there basis in this information, and how does this effect television marketing.
www.adage.com/mediaworks
Multi-channel outreach drives both online and in-store sales by accessing many levels of customer touch-points. URLs prominently posted on printed materials includng receipts, tags, catalogs, busness cards, to drive traffic to site along with order histories and channel analysis to optimize sales tools both in the store and online.
Each channel has its own strength and can be built to complement each other, ie online sales will be better at some products than others, and in-store purchases handle other products and services better than online can.
From Forrester Report: Only 10 years old, US online retail continues to be a nascent market, growing at impressive though increasingly tempered rates. As the market matures, it is becoming less of a replacement for brick-and-mortar retailing as it is a complement. Forrester predicts that US online retail sales will grow at a steady 14% CAGR over the next five years, from $172.4 billion in 2005 to $328.6 billion in 2010.
What will fuel sales? Primarily a steady stream of new online shoppers: Approximately 2 million new US households will shop online each of the next five years, creating a total of 55 million US online shopping households in 2010.
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