According to a Forrester eCommerce research, growth in online retail sales will continue to outpace growth in offline retail sales, as low prices, convenience, and selection drive more shoppers to the Web. Amid a global financial crisis, U.S.A. online retail (excluding auto, travel, and prescription drugs) managed to grow 11% in 2009 to reach $155.2 billion. With a 10% compound annual growth rate. Total U.S.A. online retail sales alone are forecast to reach $248.7 billion by 2014.
This makes me wonder how much of online shopping will shift to mobile platforms in that time. With tablets being all the rage and new App experiences dominating the mobile landscape much of eCommerce shopping is changing right before our eyes. To me that means the next frontier for conversion rate optimization is in the mobile app experience. Add on to that a layer of social along with open data and we are likely to see persuasion in the form of personalization gain new ground. But let’s not forget that the context of a sale online is vital to the experience a shopper has and even more so when it comes to converting more visitors into buyers. With social shopping on sites like Groupon and new emerging experiences to come as a result of our social graphs and the tipping point of data, there are clearly very interesting times ahead. It’s a great time for Internet Marketing and experimentation.
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