As anticipated, the retail industry continued to evolve in 2018, with overall sales jumping close to 5%, online marketplaces grabbing a larger slice of the pie, and legacy brick-and- mortar retailers shifting more resources online.
The industry is ripe for even more change in 2019. With eCommerce sales projected to reach $530.6 billion by 2020, retailers must continue to evolve to meet customer’s expectations.
Not only are more consumers purchasing goods online, they’re spending more per transaction. According to our research, in 2018, the number of Americans and Canadians who reported purchasing at least $100 of goods per month online jumped from 57.8 to 59.8 percent and from 56 to 62.9 percent respectively. Based on the estimated populations of both countries, this represents a bare minimum of $220 million spent online on a monthly basis.
Does your business have what it takes to tap into this growing market? How are you responding to market trends – the growth of marketplaces, the proliferation of free shipping, and demand for frictionless returns - that will affect the distribution of these dollars?
In this eBook, Radial examines the online shopping priorities of more than 2,000 consumers across the United States and Canada. We explore where opportunities exist, where retailers have room for improvement, and how they can execute strategies that are in line with customer expectations in the ever-changing business of commerce.
Read on to learn what we discovered.