“You are going to go out of business if you do not have a strategy to sell online”. That is 100% the truth as it relates to where the world is moving.
Take these numbers into perspective:
- In 2002, there we’re only $72 billion worth of retail goods sold as a result of an online purchase. In 2011, there were $256 billion worth of retail goods sold as a result of an online purchase. That is an increase of 355%.
- According to Forrester research projects, over 192 million people will buy online in 2016, which is a 15% increase from 168 million in 2012 (projected).
- Also, according to Forrester research, the average online consumer is projected to spend $1,738 in 2016, which is a 44% increase from $1,207 in 2012 (projected).
You would expect a young gun in the retail marketing industry to tell you that you are nuts to not sell online if you want to stay in business. That is true if you want to stay in business long term.
However, if you have no intentions of continuing your business then we suggest not investing the time, energy and resources into selling online because you will fail.
Online selling is not an overnight solution. It only accounts for 7% of all retail sales across the country. It takes patience, problem solving and planning to be able to turn it into a profit engine.
With that statement right there I am sure there are some rolling of the eyes because patience, problem solving and planning when sales are dropping are not ideal solutions. But, let’s spin it this way: Where do you want to be in 5 years? 10 years? 20 years? If the answer is still in business, making money and bringing in new (and younger) consumers then you best be figuring out a strategy.
But don’t worry we are here to help equip you with some solid ideas to help move your ecommerce solution forward and not have it monopolize your life. You will have to work and develop a sound retail strategy. However, we feel our expertise and knowledge of the tools out there will equip you to be able to excel.