The Power of an E-Commerce Platform and What It Can Mean For an Organization
Learn how E-Commerce can benefit your business
In the 4th quarter of 2016, Multichannel Merchant reported there was an 18% increase in E-Commerce spending. E-Commerce spending increased from $92.5 billion in the 4th quarter of 2015 to $109.3 billion of 2016. The majority of the online spending was done through desktop computers where consumers spent $86.6 billion, while consumers spent $22.6 billion on mobile (Smartphones, Tablets, and other mobile devices).
The competition between brick-and-mortar retail stores and E-Commerce is growing. According to the National Retail Federation, there was an estimated $655.8 billion dollars in sales between the two combine. In 2015, E-Commerce sales had 14.6% of the market, this year that number increased to 18%. Integrating with E-Commerce is an integral part of any modern retail operation and a must for 2017.
A fully integrated E-Commerce platform should bring together retailers brick-and-mortar stores and their online operations. Retailers want to make their customers E-Commerce shopping experience as similar to their in-store experience as possible. A well put together E-Commerce platform should include: real-time transactions, shared inventory with brick-and-mortar locations, the ability to post and manage products to the website from any terminal, integrations with all credit card processors, and much more.
One key aspect to remember about E-Commerce is, it is not something retailers can create and forget about. The set it and forget it method will never be successful- not in the ever-changing world of E-Commerce. After the go-live of a retailer’s E-Commerce platform, it is equally important to continue with SEO efforts, create automated and personalized email marketing workflows to increase and promote traffic to their site and more.
When both brick-and-mortar retail stores and E-Commerce come together it creates a seamless omnichannel experience which is crucial for organizations in 2017. As the numbers illustrate, E-Commerce is beginning to challenge brick-and-mortar stores, but still has a long way to go. To get a full comparison of both channels check out this infographic provided by Retail Touch Points.
