Boom22 have been busy working with Ireland’s largest men’s retail provider, building them a brand new, responsive, e-commerce website. Working closely with this project and learning the ins and outs of what’s involved in developing an e-commerce site for a large retail store got me thinking: How important is it for retailers to have an e-commerce website? Rather than just being online and having a website people can browse on, why is it crucial for retailers to have a site where their customers can not only browse online but can also purchase products and get them delivered right to their doorstep? Should all retailers offer their customers the ability to shop online? What are the benefits of this? So, I began to look into it and answer these questions….
The expansion of the internet and the increase of its users has led to a transformation in the way we use the internet today and therefore a change in the way we trade and shop. In the past few years there has been a huge increase in e-commerce with shoppers taking to the web to purchase goods. Statistics from many organisations have highlighted this. According to Statista, B2C (business to consumer) e-commerce sales in 2013 amounted to more than 1.2 trillion US dollars. The statistic below provides information on B2C e-commerce sales worldwide in 2012 and 2013, including a forecast until 2018. According to Statista, Global B2C e-commerce sales are expected to reach 1.9 trillion US dollars next year (2016).
Evidentially e-commerce is growing daily. From the statistics above we can see it’s on the increase – so why are some retailers not taking advantage of this and going online with an e-commerce website? Some businesses fear that customers may use their website solely for browsing and research purposes and are worried that they will not see any conversion rates or an increase in revenue. According to The Nielson Company, however, “When it comes to shopping for clothes…those who browse online also buy online” with 35% and 46% purchase intention rates.
Statistics show that 40% of internet users have bought products online via desktop, mobile, tablet or other online devices. This amounts to more than 1 billion online buyers and it is predicted that this will continue to grow. There are many different ways we as consumers can shop online between desktop, smartphones, tablets and iPads. With the growth of smartphones, mobile e-commerce is certainly on the rise, becoming the favoured online shopping device. According to IBM Online Retail Reports, mobile e-commerce sales rose 31% in the first quarter of 2013. Having a responsive, mobile friendly website is essential for retailers who want to meet online shoppers needs and don’t want to loose out on potential customers.
To answer my own questions, I can confidently say that e-commerce is extremely important for retailers, with a majority of consumers moving away from retail stores to the internet for purchasing products. Those retailers who don’ t give their customers the opportunity to shop online are certainly loosing out on business. According to The Nielson Company Report, 76% say shopping online is convenient, 64% say shopping online is fun and 60% usually get the best price buying products online. Whatever the reason, people are shopping online and will continue to do so with more and more people joining this trend each year.
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