E-Commerce Prognosis: No Limits
E-commerce growth shows no sign of slowing down. The year over year growth trajectory is gaining speed with digital (online) retail sales predicted to reach $632 billion by 2020. Online sales will continue to eat into in-store purchasing, placing pressure on brick-and-mortars to remain profitable.
Digital is moving to the core of retailers’ strategies, and existing real estate can be leveraged to support a digital business. Large retailers’ stores are densely distributed, providing an opportunity for them to serve multiple purposes.
The remainder of 2017 e-commerce will dramatically expand from social media networks. The integration of Facebook Dynamic Ads on Instagram, and Facebook’s launch of product tags are just a couple of examples of how social media platforms took the industry forward to continued rapid growth.
Social media trends are fluid, liquid, and mercurial. The social media scene changes daily.
Robert Allen of Smart insights says that customers will be harder to win, easier to lose and fussier on price and user experience in 2017. He also notes that to avoid falling behind the ever-fiercer competition, e-commerce enterprises must be aware of the latest trends in e-commerce. These megatrends are global, have huge implications, and are not going to go away anytime soon. E-commerce marketers are integrating these elements into planning for the remainder of 2017.
Getting ready for Q4: NOW!
Data released by comScore showed once again that Cyber Monday is the highest spending day amongst shoppers for the second year running. Interestingly, the day following Cyber Monday came in as the second highest shopping day. Just over 10 days before Christmas, December 13th, ranked last in the list of top 10 e-commerce shopping days.
The top 10 e-commerce shopping days of 2016
As an example of ecommerce growth, CampSaver is an online destination for outdoor enthusiasts to find the best gear at the right price quickly and easily. Today, CampSaver employs over 75 people and has grown into a leading online retailer of fine outdoor merchandise.
On the heels of a great 2016 holiday season, CampSaver needed to become more efficient. Tyler Shurtleff, CampSaver Director of Operations, explained, “Our biggest issue was bin utilization and not having the multi-bin functionality. Our previous problem was having one SKU per bin and that was it. With WarehouseOS we were able to do multi-bin and now we are able to scan and item in to multiple bins anywhere in the warehouse. The system will tell us where to pick it and it has increased our efficiency from a put-away stand point and it has increased our bin utilization.”
A truly good customer experience begins in the warehouse. WarehouseOS helped streamline CampSaver order fulfillment, improve customer satisfaction, making the company poised for the best holiday season in 2017 by rigorous scalable preparation in Q2 and Q3.