Explore here the online shopping growth through the years. How does online shopping make a difference each year and what kind of impact it has on the retail business?
The Online Shopping Growth Through The Years
The year 2000 was the first year when online shopping started to grow and beyond years it’s been growing tremendously. In the year 2010, online sales outnumbered sales made in stores by $200 billion according to Internet Retailer. This doesn’t include sales made by companies such as Wal-Mart and those made on mobile devices.
The statistics show that in 2010, online sales accounted for 8.1% of total retail sales, which amounted to $235 billion. The fastest-growing segment of online shopping is mobile commerce. Mobile commerce is expected to grow 300% in 2012 and total $6 billion in sales.
Based on statistics the retail sales will be as follows:
As of 2012, traditional bricks and mortar stores accounted for 95.3% of all sales. This includes sales made in supermarkets, convenience stores, department stores, specialty stores, clothing stores, electronics stores, and gas stations. These sales represent a total of $2.4 trillion in sales each year.
Sales made online through websites and mobile devices accounted for 4.7% of total retail sales. These sales amounted to 145 billion dollars in 2012.
Sales made through kiosks in supermarkets or other retail locations amounted to 0.9% of all retail sales in 2012. The estimates indicate that there were 19 million visitors to kiosks each month and they made a total of $3.7 billion in purchases.
Traditional shopping is still the most popular method of shopping. However, online shopping is making a difference each year. The statistics show that despite the rising popularity of online shopping, it still accounts for only 4.7% of all retail sales. However, this doesn’t include sales made on mobile devices and it also doesn’t take into account the rising popularity of e-commerce.
What Kind of Impact Online Shopping Growth Has on the Retail Business?
Online shopping has made a tremendous impact on retail businesses. The statistics show that online sales grew by 19.5% in 2012, which is higher than the growth rate of traditional retail sales. Online and mobile commerce is growing at a much faster rate than traditional retail stores.
While traditional stores are struggling to grow, online and mobile commerce are thriving. The statistics show that online and mobile commerce accounts for only 4.7% of all retail sales, but the potential of this market is huge and it is growing rapidly.
The future of retail is all about online shopping and mobile commerce. Traditional stores will have to transform themselves to keep up with the new trends and increase sales.
There is still a long way to go before online and mobile commerce surpass traditional retail stores. However, the potential of these new areas is enormous and they will continue to grow at a fast pace. If you want your business to grow and succeed, you must start offering solutions that cater to online and mobile shoppers.