Ecommerce Websites Will Prosper, Despite Economic Uncertainties
From high gas prices to the value of the dollar, economic uncertainties in the US are being discussed and felt all over the world. However, despite the steady decline in retail sales, many people still have hope for online retail.
A survey by investment firm Piper Jaffray of 200 consumers brought some startling numbers to my attention:
- 33% of those surveyed plan to reduce spending on discretionary goods, 12% expect to spend more and 55% foresee no change
- 36% of those surveyed say they are worse off financially today than a year ago, 23% are better off and 41% are the same
- 40% of those surveyed plan to spend less than $500 per purchase
However,
the survey found that 21% of those surveyed say that a recession or weaker
economy will lead them to shop online more for reasons that include convenience
(68%) and saving money on gas (64%). Luckily for online retailers, it
seems ecommerce will not suffer as dramatically as traditional retail
outlets.
Forrester
Research also released
a survey on internet ecommerce that focused on retailers. The study
found that online retail will increase by 17% this year to $204 billion.
Both surveys give us reason to believe that ecommerce is going to be at the forefront of how retailers make money, despite the economic climate. Now, more than ever, it is crucial that ecommerce solutions meet and exceed consumer expectations to drive business.