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Online SMBs show 'strong' performance finds report
Big retail brands might make more headlines for their online performance, but new data out from Volusion shows that small businesses are holding their own - and growing - in the online retail space. Across the Volusion platform (January - June 2013) more than 11 transactions were finalized totaling $1.59 billion dollars.
That is an increase of nearly 20% compared to the first half of 2012, and that is before the big back to school or holiday shopping rushes hit online retailers. The top performing categories included:
• Sporting Goods - 35.60% increase YoY
• Industrial Equipment - 34.18% increase YoY
• Food/Beverage - 22.09% increase YoY
• Automotive - 17.77% increase YoY
A few categories shows declining online sales. Both Jewelry and Computer verticals showed sales slumps between 3% and 16%.
"As this information demonstrates, SMBs continue to play a pivotal role in the growth of the ecommerce space, and is only expected to see increased gains moving forward, especially during the upcoming holiday season," said Clay Olivier, CEO, Volusion.
Looking ahead to the holiday shopping season, Volusion predicts smaller etailers will see online sales increases of at least 20% (YoY).
As for how smaller retailers can create more engagement with shoppers, sales are always popular. Looking at one back to school trend, the National Retail Federation (NRF) found early promotions pushed sales in late July and early August. They note that by August 20 most back to school families had finished at least half of their pre-school shopping.
NRF President and CEO Matthew Shay said, "Shopping early and often has become a sign of the times as budget-conscious consumers aim to ease the brunt of large spending events."
That trend can be used by retailers during the holiday shopping season. While many shoppers wait for the traditional sales days - like Cyber Monday, Green Monday and Black Friday - retailers can choose to advertise their sales early or offer early sales with price matching if a competitor happens to mark a product lower during the shopping season.
Image via Shutterstock
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