Posted by Fred Lizza, CEO, Dydacomp
In 2012 retail shopping websites accounted for $186.2 billion with this number projected to reach $361.9 by 2016. Mobile commerce revenue, defined as customers using their mobile devices for online shopping was estimated at $10 billion in 2012. More than 37.6 million people in the U.S. alone are considered to be mobile shoppers – using their smartphones, tablets or other mobile devices to shop online. eMarketer, a market research firm specializing in digital marketing, media and commerce, estimates the number of digital shoppers to grow from 137 million in 2010 to 175 million in 2016. That’s a lot of dollars and a lot of shoppers. What is hard to estimate is the number of online retail stores as the costs and technical barriers to setting up an online store have been significantly lowered.
So what can you do to set your online store apart from all the others? In a recent Fun Friday posting on ShareASale, Chris Rueckert, Network Launch Manager, provided information on what he considers to be three essentials for an eCommerce site: Differentiation, Shopping Cart and Analytics. According to Chris:
- Differentiation – your differentiation doesn’t need to be a grand innovation. Look for defined differentiators that can set your site apart.
- Shopping Cart – this is the gateway to your online store and need to provide integrated features that range from marketing, inventory management, reporting and business analytics.
- Analytics – without the proper analytics you won’t know how shoppers are interacting with your site. Analytics will enable you to evaluate the success of your overall operation and your individual products.
It is also smart to be sure that you have the right technology to enable your back office to keep up with your online store. This will allow you to grow your online business by being able to better focus on creating targeted marketing efforts, improve customer service and expand market visibility. An online order management system can help you do this.
Dydacomp’s whitepaper “Retail Trends – Is Your Back Office Keeping Up with Your Online Store” addresses the benefits of an order management system for your online store. Click here to access this free special report to learn about the top 5 ½ benefits of automating order management.
You may also be interested in our recent webinar, The Top 5 Insights to Help Prepare for Seasonal & Holiday Rushes. Access the free on-demand recording here.
You can find Chris’ full post, “Building Blocks of an Online Store” at http://blog.shareasale.com/2013/07/12/building-blocks-of-an-online-store/.
 Statistics and Facts about Online Shopping by Jessica Kril. http://www.statista.com/topics/871/online-shopping/.