Online shopping is a force to be reckoned with. Brick and mortar (traditional) stores cannot continue to ignore the trend that has been taking shape over these past few years. They ignore this trend at their own peril to the demise of their businesses.
Retailers own data clearly shows that online sales has been rising year over year.
Below report from Internet Retailer
Retail chains react to web retail’s growth
E-retailing's momentum and consumers' changing habits have chains rethinking how they invest and the role stores can play in e-commerce. Many retailers are closing or downsizing stores, as the web’s share of sales steadily grows, according to Top500Guide.com.
Consumers are spending less time shopping in stores and shifting more of their retail dollars to the web. It’s a trend that has steadily played out over the last few years, as store-based merchants continue to bring in a higher percentage of their sales from the web. The importance of the online channel to major retail chains’ was particularly evident in recent weeks during year-end earnings calls for retailers like Gap Inc., Abercrombie & Fitch Co., Target Corp. and Best Buy Co. Inc. In many of those discussions with analysts, the retail executives spent a lot of time talking about multichannel strategies and the reshaping of real estate investment plans, not surprising since most also reported double-digit gains in online sales while store sales faltered.
Last week, for example, Abercrombie disclosed that the $777 million it generated in sales online in 2013 comprised 18.9% of total sales in 2013—up from 15.5% in 2012. Abercrombie is No. 45 in the Top 500 Guide. Target, No. 18, meanwhile, said online sales increased more than 20% year over year in 2013 while comparable-store sales dropped 0.4%, with both figures depressed by an embarrassing data breach that the retailer disclosed just before Christmas.
Store-based merchants has been reporting this kind of growth in the share of their sales coming from the web for years, as documented by data compiled from Top500Guide.com and retailers’ annual reports. Toys ‘R’ Us, for example, derived 13.5% of its total sales from the web in 2012, up from 9.1% in 2010. Wal-Mart Stores Inc. brought in 2.9% of total revenue from online shoppers in 2012, up from 1.6% in 2010. Updated figures for 2013 will be released on Top500Guide.com in late April.
Read more from Internet Retailer >>
Retailers own data clearly shows that online sales has been rising year over year.
Below report from Internet Retailer
Retail chains react to web retail’s growth
E-retailing's momentum and consumers' changing habits have chains rethinking how they invest and the role stores can play in e-commerce. Many retailers are closing or downsizing stores, as the web’s share of sales steadily grows, according to Top500Guide.com.
Consumers are spending less time shopping in stores and shifting more of their retail dollars to the web. It’s a trend that has steadily played out over the last few years, as store-based merchants continue to bring in a higher percentage of their sales from the web. The importance of the online channel to major retail chains’ was particularly evident in recent weeks during year-end earnings calls for retailers like Gap Inc., Abercrombie & Fitch Co., Target Corp. and Best Buy Co. Inc. In many of those discussions with analysts, the retail executives spent a lot of time talking about multichannel strategies and the reshaping of real estate investment plans, not surprising since most also reported double-digit gains in online sales while store sales faltered.
Last week, for example, Abercrombie disclosed that the $777 million it generated in sales online in 2013 comprised 18.9% of total sales in 2013—up from 15.5% in 2012. Abercrombie is No. 45 in the Top 500 Guide. Target, No. 18, meanwhile, said online sales increased more than 20% year over year in 2013 while comparable-store sales dropped 0.4%, with both figures depressed by an embarrassing data breach that the retailer disclosed just before Christmas.
Store-based merchants has been reporting this kind of growth in the share of their sales coming from the web for years, as documented by data compiled from Top500Guide.com and retailers’ annual reports. Toys ‘R’ Us, for example, derived 13.5% of its total sales from the web in 2012, up from 9.1% in 2010. Wal-Mart Stores Inc. brought in 2.9% of total revenue from online shoppers in 2012, up from 1.6% in 2010. Updated figures for 2013 will be released on Top500Guide.com in late April.
Read more from Internet Retailer >>
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