Premium Essay

Online Shopping Market

In: Business and Management

Submitted By schro160
Words 540
Pages 3
Online Shopping Market

With the economy down shoppers have less time and or money to browse around your typical brick and mortal retail stores. According to Retail Traffic Magazine in 2009 online sales accounted for 6 percent of all retail sales. They estimate that by 2014 online sales will account for approximately $250 billion; 8% of retail sales.

As cell phone technology and online marketing keeps getting more and more advanced more retailers are adding applications or shortcuts for consumers to access their online retail stores. Retailers put coupons, deals, and other marketing tools to use to try and entice the consumer to enter the store weather it is online or in the actual store. According to Market Wire, 83 percent of consumers are shopping online at least weekly. That is a very high number of consumers that are actually purchasing something. Many shoppers are thought to do their research online but they purchase in the store. But now, we have 83 percent of consumers shopping online at least once a week. That is a major trend. Along with shopping online many consumers are using social media like Facebook, Twitter and applications like FourSquare to share ideas, reviews, coupons and other shopping information with other online consumers.

Market Wire states that the reasons consumers shop in stores are to avoid shipping costs, to try the product on, to touch or feel an item and immidiecy. According to Market Wire some the ways companies like CanGo can combat consumer’s negative issues with buying online is by offering incentives that are targeted at their issues. “Some of the top ways to encourage consumers to buy more products online are free shipping (87 percent), free returns (63 percent), and fast shipping (42 percent). In addition, the ability to use in-store coupons online is increasingly valued among consumers -- 51 percent indicated it...

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