The media these days continues to pound out large amounts of bad economic data. However, even in the mist of all the turmoil there are positive signs that need to be acknowledged. Of course, this is not to say that all is well and that we simply throw caution to the wind. Rather let’s take a moment and see where the opportunities are developing in this economy.
Recently, eMarketer forecasts that US retail e-commerce sales (excluding travel) will total nearly $132 billion in 2009, down 0.4% from 2008.
So what this means is that as the economy begin to rebound, as many economist are prediciting, online sales will strengthen into 2010 and start growing in 2011.
Some reported changes in online sales have more to do with the growth factor in this sector than falling sales. In other words as online sales increase in volume it becomes harder to maintain the same levels of growth year in and year out.
In fact according to PriceGrabber.com, the tough economy is driving consumers online to compare prices, look for retailers that do not charge sales tax or shipping fees, seek discounts and avoid impulse buying.
As this research shows many consurmers are looking to the internet to research and understand what they are buying. It would then make sense to ensure that any website provide these visitors with the information they need. At the same time begin to build realtionships with customers through the various services now available for online merchants.
At Bay Area Mastermind we are constantly reviewing what is working and what is not in online marketing and offline marketing. For more information about an upcoming meeting contact our offices.