“Ecommerce sales have continued to rise despite the economic slowdown. “

The growth witnessed by the online market is far greater than the growth in traditional retail market.  We  are shopping online as never before . The economy in general is also showing signs of recovery. Growing competition will be one of the main factors to consider.  Ecommerce is fast becoming the key to long term growth and sustainability of a business. As more retailers venture online for the first time, the competition set to increase further.

Trends favour those into ecommerce.

Despite economic slowdown and recession hitting the UK, 2008 ecommerce sales were recorded to be over 50 billion, which was an increase of over 25% from 2007. 2009 also showed an improvement although the rate of growth was slightly lower than expected.

The ecommerce market is far from saturated.  The recession in some ways has only contributed to an improved sophistication in the online market. Online marketing experts predict a steady rise in both total online sales and the number of new retailers  venturing into e-commerce.  More and more people are shopping online and creating new opportunities for retailers on the internet.

New Retailers Venturing Into E-Commerce – Key Factors to consider

New retailers venturing into e-commerce for the first time need to consider a number of factors. A well thought out strategy along with well defined goals and objectives are essential to ensure long term growth and success of  any business on the internet.  A sophisticated e-commerce platform will be helpful to meet the growing needs and expectations of customers. However an effective marketing strategy is equally important.  To attract more customers e-commerce retailers also need to pay more attention to elements like usability, visual appeal and quality of content or information that is offered. Search engine optimisation and social media strategy are other areas to consider.

Top 5 E-Commerce Trends for 2010

1. M-commerce

Mobile commerce will witness one of the highest growths in the coming year. Launch of innovative tools and third party applications will provide consumers with an even greater choice and features. The number of mobile internet users will continue to grow exponentially. Use of hand-held and mobile devices for shopping will continue to increase. Major brands will invest heavily to offer new and improved services over mobile platform.

2. Social commerce

Social networking will be integrated further into e-commerce. Research into consumer behaviour patterns in 2009 has already shown the positive impact of peer reviews on purchase decision of customers. Peer reviews, ratings and other forms of user generated content will continue to influence conversions. E-commerce websites will take steps to integrate social networking with customers shopping experience. The use of social networking tools such as tweet this’ or ‘post link to Facebook’  has been widespread in 2009 and will be further improved in the coming year. User-generated content will play an increasingly important role in e-commerce. Brands will work on integrating social media into the online shopping experience as a tool to increase customer loyalty.

3. Videos and Streaming Media

2010 will continue to see an increase in the use of video. Video commerce will be integrated further into the online shopping experience. Customer expectations will increase and brads will respond accordingly. Internet TV as well as use of general multimedia content will continue to grow rapidly. The use of interactive videos to promote product as well as offer general information will offer an engaging online experience to users.

4. Personalisation

Personalised services will remain popular. Due to the ever increasing role of e-commerce in the day to day lives of consumers, businesses will focus on delivering personalised service to customers. Websites will offer a more personalised user experience to shoppers. Websites and portals will deliver tailored content and options to customers in order to offer a more enriching and faster shopping experience.

5. Increased online presence for small business

2010 will see a rapid increase in online presence of SME’s and small businesses. The last couple of years have clearly shown that businesses with a strong online presence in their market have continued to do well in spite of volatile economic conditions. An increasing number of smaller businesses will invest time and effort to build a strong online profile on search engines and social media networks.

E-Commerce Future – Related reports

Nearly 40% of marketers plan to boost budgets

With the economy showing signs of recovery, almost 40% of b-to-b marketers say they plan to boost their marketing budgets next year, according to a survey of 376 businesses conducted by BtoB. Read the full article titled “2010 Outlook: Marketing Priorities and Plans”.……Read the full report.

Top 2010 Online Marketing Trends for UK & Europe

Europeans are shopping online as never before. According to a report by eMarketer, the recession in Europe has helped improve the sophistication of Internet marketing. Read the full insight from eMarketer.……Read the full report

The Top 500 Guide 2010 published by Internet Retailer

Web retailers took market share from stores during the Great Recession, and the biggest mass merchants were the biggest winners online…….Read the report

Case Study – How a stronger e-commerce platform enabled web sales at QVC.Com to grow by over 18% in 2009.

Find out how, in spite of the recession, QVC.Com managed to grow steadily during 2009 mainly due to an exceptional growth driven largely by their strong e-commerce presence.……Read the full post

Additional Resources:

Bespoke E-Commerce Web Design in UK

Web Design in London

Joomla Development

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