Online sales remain strong
Online sales in November continued to be a bright spot in the current retail wasteland. According to the British Retail Consortium’s latest gloomy figures, retail sales in November were down for the second month in a row. This marks the start of a worrying trend: it is the first time that figures have fallen since the UK Retail Sales Monitor survey began in 1995. However, in the midst of this bleak landscape, online retail continued to increase, growing almost 10% year on year in November.
There are a number of valid reasons for this growth, not least a marked increase in consumer confidence online. People are not browsing on the high-street and making impulse purchases - they haven’t got the time or the money. According to recent figures from Google, over 85% of all procurement starts on line, and with increased domestic and PC uptake rates there are more shoppers out there.
So consumers habits have changed and this now-established connectivity has emancipated consumers. They have already researched the options online, found the cheapest deals on price comparison sites, read user-reviews on forums, and gathered recommendations from contacts on social networking sites. In addition retailers have played their part too in improving consumer confidence: security issues have been sharpened up, consumers’ rights have been established and clarified, and website usability improved. And online real-estate prices knock the price tags of expensive locations needed by bricks and mortar establishments into a cocked-hat.
The current economic climate, plus the dramatic online evolution is the perfect storm for retail – but instead of being seen as a destructive threat to the high-street, retailers should embrace this opportunity, diversify and embrace the world-wide online market-place.
Labels: british retail consortium, ecommerce, retail
posted by thebluedoor at
14:38
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