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On Line Marketing set for impovement - Bright Growth Prospects

On line marketing , Internet retailers , web search

Online (retail) marketing set for improvement:

On Line business revolution:
A decade after the start of the online business revolution on retailing , shopping over the Internet have become mainstream activities.

Totally 6% of all retail sales are made thro'online business today, and twice that sales percentage of offline sales are greatly influenced by online marketing or by the research customers perform on the web.

Generally ,in Online business , Internet retailers have mastered the basics of e-commerce, opening the way for them to start investing in improving their online merchandising with more innovative business tools and techniques.

And online business marketing is an area in need of retailers’ attention, notes all Researches, with conversion rates averaging only about 2.6% and some retail verticals averaging even lower.

Survey report:

A survey conducted for a recent report, “The Techniques of Mastering Online business Marketing” found that the need and the penetration of tools and techniques that improve online marketing still is far from the need , among retailers.

The most commonly used online functionality falling under definition of online merchandising tools was Web site search. With 54% of retailers surveyed saying they use site search, that means more than a 30% of the retailers still yet to have a site search function.

Among other online marketing tools now in use among surveyed retailers, 55% said they had used technology to bring better imagery to their sites,

46% use zoom, and
40% use swatching technology.
A total of 40% use buying guides on their site, while
32% use A/B design testing.
Customer ratings and reviews were cited by 25%,
live chat by 25%,
streaming video by 24% and personalized presentations were used by 16% of the retailers.
Gift registries and wish lists were cited by only 16% of retailers surveyed;
8% use 3-D rotation features , and only
6% used virtual model techniques.
“Even though online retail sites have improved and matured, most consumers who come to those sites just don’t purchase,” says analysts.


“By engaging in initiatives and efforts that place products more effectively throughout a web site and present features in a more engaging way,in Online business, retailers can initiate drive the incremental conversion improvements that dramatically affect overall sales an product ‘s market performance.”


Statistics of Online business :

Majority of U.S. online teens have shopped on the net:
84% of U.S. online consumers ages 19 to 21 and 54% of teens under 18 have shopped online, according to a new study from a Research.

Older teens had more spending power—about $183 per month—compared with $86 for younger teens, the study found.

In addition, older teens spend an average of more than 14 hours online each week and have been using the Internet for an average of nearly seven years, according to the study.

Of teens 18 to 21, 86% go online weekly and 14% go online monthly.
The majority of online teens also have access to broadband—85% of younger teens and 92% of older teens, Studies have shown that consumers who use broadband spend more online.

The items teens purchased most often online included

DVDs and books,
computer hardware,
software, music,

“The web captures nearly a 30% of younger- and older-teen-male spending on computer hardware, and the percentage of spending online increased most between age groups in categories like Programme tickets, computer software, music, DVDs/videos, and books,”
Only a small percentage of teens shopped online for apparel and accessories, linens/home decorations , and foot wear, according to the study.

Experts predict that in only five years Internet purchases could account for as much as 15% of retail sales in America, and even then the enormous growth gap between online and offline retailing may still exist, propelling the web's share of retail sales even higher by the end of the second full decade of Internet retailing.

Yet, this growth will not happen without innovation and competition driving it, and not all e-retailers will fully benefit from it.

The novelty of online shopping has worn off and today's web buyers are more discriminating and demanding.

Not enough:

Just merely having an adequate retail web site will not be enough to guarantee success.

The First Decade:

If the first decade of web retailing was characterized by early adopters with a general enthusiasm for all online retailers.

Future:

The second decade will more likely be characterized by retail web sites that are far more advanced than their first-generation predecessors.

As e-retailing goes mainstream, its growth will be driven increasingly by highly skilled e-retailers who are committed to expanding their online market presence and share.

Future conferences:

The future conferences in Internet Retailing should examine the factors that are laying the groundwork for this expected growth in e-retailing and highlight the strategies, technologies and practices that are being developed by leading e-retailers who even now are beginning to take online retailing to the next level of performance.

Second Decade of Boom:

Those attending such conferences learn what they need to do to take their e-retailing business to the next level and thereby claim their share of e-retailing's second decade of booming market growth.

C.EASHWER - SINGAPORE


Published: 2006-05-14
Author: Chockalingam Eswaramurthi

About the author or the publisher
Iam a Professional writer dedicated to sharing the knowledge on topics of Public interest, be it Management , Leadership , Social service , World Politics , Personalities , Industries , Health , Computers , Policy making , Governments , Book review etc., Iam from Singapore . My e mail id is : eashwer@pacific.net.sg

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