Shopping and Ecommerce

Declining prices of internet connectivity and growing confidence in online web stores have sent online sales figures soaring over the past few years. Each year, online sales figures hit a new high. This can only mean one thing,online shopping is not going away.

The US Census Bureau states that retail sales online accounted for 1.9% of the total sales at the end of 2003. This represents more than $17.2 billion in total revenues. This was up to 25% by 2004. It doesn't stop there. According to Forrester Research online Christmas shopping alone accounted for $13.8 billion in revenues in 2006. Around the world, online sales contributed revenues of $747.6 billion for the year 2006, this is a 14.8 percent increase over 2005 and 23.1 percent of the total retail sales for the year.

It has long been thought that consumers want to actually see, touch and feel something before making a major purchase. However, with the growing availability of comparison shopping sites or services that host product reviews, consumers are relying on online research to ensure that they buy the right item for the best possible price. In a survey by Pricegrabbers.com 81% of the respondents used the internet as their primary source of research for both products and retailers when it came to shopping for home furniture and appliances. In fact, there was a significant rise in the confidence level of consumers while making large purchases online as compared to a similar survey conducted in 2006.

Of course, the comfort levels for shopping online has been boosted by the discounts offered by retailers, including improving after-sales service and offers on home delivery of products. Also, as major high street companies launch online versions of their brick and mortar stores, where people can find the same quality and pricing without the problem and expense of driving all the way to the store and fighting through the masses shopping for the same products.

If you still need proof that the world is moving towards online retail in a big way, consider this:

The UK Office for National Statistics predicts that online shopping in the nation is likely to continue to grow upwards, accounting for £162 billion in revenues by 2020 and representing 40% of total retail sales.

In short, the online shopping train has taken off and there is no stopping it now. If you want to get on board, feel free to give us a call on 0845 0574320

Andy Calloway is a director at Calloway Green Ltd. He is a specialist in search engine optimisation and website development.

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