CNN recently reported that Online Black Friday sales topped $1 Billion last week, the most ever. That is a 26% increase from 2011. All signs point to 1 thing- the time to sell online is now.
Bricks and Mortar stores only account for 45% of online sales, companies like Walmart, BestBuy, and Apple seeing a 32% combined increase from a year before. That data tells a very revealing story… 55% of online shopping came from 2nd tier websites, or small business or niche eCommerce companies. The data is telling- the time to sell online is now.
With the ability to create a powerful e-commerce website using 3rd party platforms like OpenCart, Magento, and WordPress, it is only logical that every small business in the retail industry needs to be online. 55% of local business search is mobile now. Online Advertising is more affordable than ever using tools like Google Adwords and Yelp Ads, and deal makers like Groupon and Living Social.
The good part about this new trend is that there is so much room to grow. Other than electronics, consumer polls show that there is no #1 site in many other retail categories like Womens Clothing, Sporting Goods, and others. A new e-commerce company can lay claim to a niche locally and even nationally. With the increase of social media marketing and peer ratings, high budget advertising is really a thing of the past. Peer-to-peer marketing is now more vital than ever. Having high reviews, social media exposure, and competitive pricing go a long way today. Get in on it now!
