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10 Trends in Online Shopping

  

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Lots of interesting data coming out about trends in online shopping, behavior and eCommerce growth.  Here are some of the key points that attracted our interest:

• Shoppers spent just over $165 billion online in 2010, a 15% increase over 2009.  Online sales, $165 billion in 2010, represented 4.2% of total retail spending. Source:  U.S. Department of Commerce

• eCommerce sales for Q4 2010 reached $43.4B, up 11 percent over the same quarter 1 year ago.  Key growth categories were computer software excluding games, consumer electronics, books and magazines (exluding downloads), computers/peripherals/PDAs and toys and hobbies. Source:  comScore

• 75% of consumers asked to register on a website will immediately alter their behavior:  54% will leave and not return; 55% are more likely to return when a site recognizes them and 48% are more likely to purchase from a site with automatic recognition.  Source:  Janrain and Blue Research

• Retailers' efforts are focused on the customer experience. 65% cite their top priority as web page organization; 56% focused on cleaner page navigation; 50% on speedier and more intuitive site search; 49% on building faster checkout and 38% on implementing bigger and cleaner images. Source:  Internet Retailer February 2011 Survey Report

• For CPG companies, investment in shopper marketing has roughly doubled in the past 5 years to $35 billion, outpacing investment in digital media and consumer promotion.  Source:  Booz & Company

• A recent study reported that 40% of shoppers visiting a site with intent to purchase ran into some obstacle during the process.  Those shoppers in the final phase of the process cited inability to find the product they were looking for (39%), lack of product availability (33%), inadequate product information (8%) or technical barriers (4%) as the main reason.  Source:  iPerceptions

• In 2009, eCommerce represented only 6% of all retail sales.  By 2014, that percentage will increase to 8.  Source:  Forrester Research

• Technology-savvy consumers want to bring the best of the website in-store, or mashops ("mash ups" of the virtual and physical worlds to create a new way to shop).  Over half of shoppers surveyed were interested in trying a mashop service, 73% preferred the idea to a touchscreen on a store shelf.  For touchscreens, 54% want to see product and price comparisons along with reviews, and 44% wanted a virtual video adviser on a large screen or tablet.  Source:  Cisco

• Online coupon savings reach more than $1 billion in 2010.   The growth of digital coupons outpaced print coupons 6 to 1, and surprisingly, those whose household incomes topped $100,000 were twice as likely to redeem digital coupons.  Source:  Coupons.com Trend Report

• Interesting purchase patterns emerging:  Ten percent of online shoppers have purchased electronics on an eCommerce site; of these, 15% research on their mobile device and 6% have purchased via their mobile device. Thirty-four percent of  online shoppers purchased apparel online; of these 8% researched on their mobile device and 3% have purchased via their mobile device.  Five percent of online shoppers have purchased home goods online; of these, 9% have researched and 5% have made purchases via mobile device.   Source:  Forrester Research

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