Are you an ostrich, burying your head in the sand? Is your business still weak or invisible on the internet? As one of the last surviving dinosaurs, are you simply hoping that the e-commerce revolution will go away?
Well, with a nod to the great Fred Flintstone: ‘lemme tellya buddy, it ain’t likely’.
Regular readers of this blog already know that, for many retail majors, the centre of gravity is shifting (or being dragged, kicking and screaming) away from the high street and into the online world.
The list of biggies now betting on e-commerce as the way forward reads like a who’s who of the shopping mall: Tesco, Sainsbury’s, Asda, Dixons, Mothercare, Next, and all of the big banks.
In the UK we spent an estimated £5.75bn online in April alone, compared with £5.23bn in April last year. Thanks to this surge in online spending, the UK is now the European leader in e-commerce. And this gradual transfer towards online shopping and information-gathering is gaining momentum.
Ireland, although a relatively small market compared to the UK, is not that far behind its neighbour: 43% of Irish citizens made an online purchase last year, making e-retail worth €3.5 billion to the Irish economy.
The way we shop online is evolving too. We no longer think of internet shopping as a deskbound thing. We are more mobile as we shop. UK sales via mobile phones and tablets have more than trebled (up 353%!!) in the last year. Time on the train and time over coffee has now become time to browse and time to buy.
Some retail executives have noted that, while they used to view their online store as an extension of in-store, it has now moved centre stage, and is part of core sales. And you need only read this week’s news story about Tesco to see that, in terms of investment plans, they really are putting their money where their mouth is on this.
Online shopping is the modern-day Tyrannosaurus Rex, a predator stalking the high street and carrying off many who still dare to venture downtown.
If you are an ostrich, with your head in the sand and your butt in the air, you should be considerably worried.
from butterCloudHQ
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