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Surveys: Ecommerce tightening though shoppers spending more
While more shoppers are spending more online, they aren't necessarily shopping all the same places. According to new data out from both Custora and the e-tailing group, while shoppers continue to shop online, the plethora of merchants in the space is making it harder for brands to keep revenue and conversion numbers high.
According to the latest Custora Pulse report ecommerce revenue for Q1 2014 was up 11% YoY with mobile pushing more sales. Mobile increased its share of ecommerce by 35%; mobile devices now account for nearly 20% of all online purchases.
"Amazon is nipping at the heels of every retailer. Mobile has materialized as a revenue producing force and customer expectations have peaked, once again altering retailer investment strategies. Choice and prioritization are paramount in the context of this chaotic environment for survival and growth," said Lauren Freedman, President, the e-tailing group, a Chicago-based consultancy.
Over the past year, according to a new survey from the e-tailing group, both revenue and site traffic have been trending slightly lower than in 2013. The survey shows:
• 76% of retailers reported increased revenue over the past year
• 68% report site traffic has increased
• 64% report conversion increases
As for what merchants will focus on in 2014 - mobile and marketing top the list, along with better personalization for their customers and becoming more omni-channel so that they can reach consumers in a variety of places.
Image via Shutterstock
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