The year that was in eCommerce
2013 was a busy year for eCommerce, we have seen a profound growth in eCommerce in the last year. With the adoption of responsive web designing techniques to provide excellent mobile and desktop experience Mobile Commerce has grown well too. Marketers focussed on converting their stores into fulfillment centers. Several eCommerce sites got enhanced, some started same day delivery options, and most of the shopping carts were simplified using open source eCommerce platforms like Magento.
We saw Amazon announcing the starting of grocery business. This might drive customer count and frequency of their visits to the site. They also announced same day delivery! Now that some efficiency built into the system. This may be the focus on other retailers in the coming future.
Deriving actionable and intelligent real time and differed time information played a key driving role in the eCommerce domain. There is a lot more to come in 2014 with Google upgrading its universal analytics. Not only this, there was a lot of focus on UI and UX designing, and landing page optimization. Marketers were focusing on bounce rate/click through/visit-to-basket and visit-to-order. Last but not the least a lot of retailers who move above the food chain have realised the importance of having a sound fulfillment and backend management engine and started investing in ERPs and retail business management systems.
Get some numbers straight first. What are we looking into?
Global B2C eCommerce sales will end in the $1.2 to $1.5 Trillion territory this year, making it around 17-18% growth over the last year! Now that’s multiple times of most of the GDPs. On top of that we still have only scratched the surface. eCommerce business is still only around 5% of the overall retail business… SO there is a lot to catchup on.. But the engine rolls on! With internet penetration increasing in the untouched areas of developing countries, there is a whole lot of new set of customers who joined the eCommerce bandwagon this year.
Growth of MCommerce
This Christmas day Mobile Shopping and traffic made around 48% of the all online traffic in the US. Now this number is around 28% higher than last year (2012)! This is some food for thought! Are mobiles going to triumph PCs browsing in next few months/years? With many of the folks in developing countries having their internet baptism (exposure to internet ;)) on a mobile device and considering the penetration of Mobile (>90%!) it might be just a reality in no time! Well wait and watch.. and read on…
Now retailers are focusing on the fact that the users are now a days more driven to their mobiles to check eCommerce sites, rather than using desktops or laptops. 2013 was the start of more mobile existence in the field of eCommerce. Marketers understood the need of enhancing mobile commerce and the issues related to the down scaling of these websites from their desktop version. The main focus of the marketers were on developing native apps and aligning the UX/UI patterns across the devices. Experts states that around 13% of the online shopping is being conducted on mobile devices.
Sites like Pinterest and Vines were started and along with their apps, and were used for promotion. This was the time when many marketers realised that they have started to miss their fundamental opportunities of not having mobile experience. They will have to strive hard to keep pace with digital trends to maximize their overall profitability.
Mobile commerce is a new field and will expand a lot having its backbone as eCommerce itself.
Same Day Delivery
The marketers focused on same day delivery in 2013. There were several attempts, but customers are still found to be less enthusiastic on the option for same day delivery. So, this option was found to be less effective in 2013.
Growth in the Overall Sales Figures
This year, e-commerce sales figures have been grown with a significant rate. We find an overall increase of around 18% in the field of eCommerce as compared to last year. Experts are in a hope that such growth in eCommerce sales will continue at a much faster pace in the years to come. And the fact that this enhanced growth will ride on a bigger base, will prompt the beginning of a next generation for eCommerce businesses.
Impact of Social Networks
2013 has seen the emergence of social networking sites like Facebook, Twitter, LinkedIn etc. as a viable platform for eCommerce. In fact many of the marketers have taken initiatives in utilizing the power of social media to promote their brands. Facebook has expanded its scope and reach in E-commerce applications.
Google with the help of Google+, Google Product Listing Ads, and Google Wallet, will out-perform Amazon in the eCommerce space within few months. The problems related to payroll taxes had made customers more price sensitive and caused cut back in the overall online shopping though.
With a lot of things continue to happen in the eCommerce, look out for our next blog post on what will rule to roost in eCommerce in 2014.