US eCommerce Sales Growth Driven by Retail Industry
05 Nov. 2014 e-Commerce Development
Retail and e-commerce business in the United States is considered to be the second largest industry contributing both to sales and employment in the USA. The Census Bureau of the Department of Commerce announced that the estimate of U.S. retail e-commerce sales for the third quarter of 2014 was $78.1 billion. This article explains how e-commerce in USA is driving sales for the retail industry.
Not only in the US, but retail industry is one of the biggest business sectors across the world. Wal-Mart is the biggest retail giant and the highest contributor of the US e-commerce growth across the globe with a total sales generation of $312 billion (USD).
Retail eCommerce Industry
The US e-commerce industry has contributed to its economy in terms of robust growth by providing personalized and relaxed online shopping experience to its consumers. Since the year 2007, this growth has been like a beacon that has helped in enhancing the business of retail industry and making them global.
The increased penetration of Internet and ease of making secure payments online has contributed to the tremendous growth in the development of on-line retail businesses.
US E-Commerce Trend
The emerging class of tech-savvy US citizens has found a new, convenient way of making purchases from the comfort of their homes. They have contributed to the e-commerce industry in a highly prolific manner boosting the overall e-commerce sales. For in-depth result, have a look at the recently published Quarterly Retail E-Commerce Sales Report Q3-2014.
The new M-commerce trend marks increasing utilization of tablets and smart phones among more than half of the American population. This has increased the online sales of products and services through mobile devices. Consumers have started using these devices for market research, searching stores, comparing prices and making payments.
E-retailers’ are aggressively marketing their products with attractive pricing strategy to improve customer acquisition. Various retail giants are now building multiple-channel retail experiences by providing real-time merchandising stock system on their websites and providing the facility of back-ordering out-of-stock merchandise.
This provides a pleasant shopping experience to customers and in turn helps retailers improve their stock management. This is another factor that has contributed to the growth of traditional retailers in the US market.
US E-Commerce Forecast
It is believed that the growth of the US e-commerce industry will also increase investment opportunities in online retailing distributions as well, thus helping small time business owners. The forecast studies also reveal that the e-commerce sales have improved to generate $262.3 billion in sales, an increase of 16.4% year over year and slightly higher than the 16.2% increase last year.
These products include merchandise such as apparel and fashion accessories, books, music, movies, mobile phones and other electronics. Travel and vacation packages are sold online as well. Most of the online retail stores offer discount coupons and seasonal offers to increase the sales and profits online. The biggest online shopping customers across the globe are confirmed to be from North America, particularly from Canada and the United States.
If the current US retail e-commerce trends were anything to go by, a company without an e-commerce solution by 2014 would be like a sitting duck. We help retail organizations to establish a presence on the internet and mobilize their business with innovative e-commerce solutions.
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