Online Retail Trends & Tools

588 views

Published on

If you’re like many global brands, you’re missing an opportunity to turbo-charge your brand at your retail partners’ sites. The stats don’t lie: emerging trends and tools in the online retail space can transform your sales. The online retail world will continue to evolve rapidly, as will the opportunities they offer. You need an agency that specializes in those opportunities. That’s Iron Creative. www.ironcreative.com

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
588
On SlideShare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
13
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Online Retail Trends & Tools

  1. 1. Online Retail Trends 2012 A Historic Opportunity
  2. 2. IntroductionA new landscapeThe digital retail landscape is evolving at a tremendouspace, offering massive potential for increased sales.Now, more than ever, it is time for global brands to focustheir attention on what is increasingly the final stage oftheir consumer’s journey: the online retail interaction.Digital Retail Trends & Tools: A Historic Opportunity By Iron Creative 1 Pg.
  3. 3. IntroductionA new landscapeWhat follows is a brief overview of the impactbeing made by some of the trends and tools we’reseeing in the online retail world. The statisticsare very hard to ignore.Digital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 2
  4. 4. The Power of VideoWhere product videos are available, they are making a dramatic difference.144% more cart addsVideo viewers were almost 150% more likely to add a product to cart after viewing a product video on stacksandstacks.com.85% more likely to buyVideo viewers are far more likely to make a purchase than those who do not watch videos.Up to 700% increase in engagementClicks and response rates increase by up to 7X when products are showcased through video instead of static content.90% of web traffic video-basedBy 2013 nearly 90% of web traffic will be video-based (source: YouTube VP of Global Content, CES keynote address).Digital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 3
  5. 5. 360-Degree Product Views & Virtual Product TrialsNewer technology is bridging the gap between on-line and in-store.27% increase in conversionsDueMaternity.com reported that providing 360-degree viewsof the product increased conversions by more than 25%.34% decrease in returnsWhile Hurley.com saw an increase in conversions of denim products,it saw 1/3 less returns, after incorporating a technology that allowedshoppers to “try a garment on” through a 3-D model of themselves. + Conversions Increase Augmented Digital Retail Technology - Returns DecreaseDigital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 4
  6. 6. The Numbers on Live ChatOffering Live Chat to your customers is an undeniable priority.57% increase in order valueVisitors using live chat spend over 50% more than those who don’t.29% more likely to purchase With Live Chat Without Live ChatHaving chat as an option on a website made consumers more likelyto make a purchase, regardless of whether they used it. Order ValueDigital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 5
  7. 7. Online Reviews & RatingsImproving and providing access to customer reviewsis a pivotal variable in growing sales.48% read reviews while shoppingAccording to Shop.org, nearly 1/2 of consumers access customerreviews through a mobile device while in stores.up to 40% of all purchasesAccording to JiWire Mobile Audience Insights Report, 31% ofpurchases made in a store and 40% of purchases made onlineare made by those reading customer reviews. Percentage of purchases made online by those reading customer reviewsDigital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 6
  8. 8. Mobile UsageAn increasing majority of consumers are spending dollars through theirphone, or after consulting their phone.59% use phones to shopMore than 1/2 of consumers shop by phone and 28% do so while browsingin stores.73% prefer phones to sales repsAlmost 3/4 of consumers prefer to reference their mobile device whilein-store rather than ask a sales associate for help. Shoppers who prefer mobile device to sales associateDigital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 7
  9. 9. The Age of TabletsTablets are already dominant players in the online shoppingworld, and they are becoming a bigger factor every day.89.5M will have a tablet by 201433% of internet users will shop by tablet within approximately one year.79% of 18-34 year-oldsAlmost 80% of the coveted 18-34 demographic already shops by tablet,as does 50% of the 35-54 demographic and 43% of the 55 or olderdemographic.up to 50% more spentTablet users spent $123 million online, versus $102 million forcomputer shoppers and $80 million for smartphone shoppers. Percentage of 18-34 year-olds who shop by tabletDigital Retail Trends & Tools: A Historic Opportunity By Iron Creative Pg. 8
  10. 10. ConclusionWhere to go from here.The trends and tools of the online retail world willcontinue to evolve rapidly, as will the opportunitiesthey offer. You need an agency that specializes in thoseopportunities. That’s Iron.Digital Retail Trends & Tools: A Historic Opportunity By Iron Creative 9 Pg.

×