Navigating the Latest Trends in Electronic Commerce

Businesses all over America, from the largest mega-chains to the most humble mom-and-pop stores, anxiously look forward each year to the frenzy of consumer purchasing that we all know as Black Friday.  But according to Reuters, early data seems to indicate that Black Friday shopping numbers came up short for a lot of major stores this year, including traditionally excellent performers like Best Buy and Walmart.  Some have suggested that this lag may be the result of gradual extending of the holiday events, which now seem to run from Thanksgiving evening all the way into Cyber Monday.  Others believe that many customers remained home rather than brave the teeming crowds.  However, most with an eye towards marketing strategy agree that one of the biggest reasons for the decrease in general foot traffic is the surging popularity of online sales.

A look at the general statistics over the past few years paints a fairly clear picture.  In-store spending on Black Friday peaked at nearly $60 billion in 2012, but has since lagged to just over $50 billion in 2014, a number comparable with the earlier 2010 total.  However, on-line spending has continued to increase every year, and reached $1.5 billion in 2014, more than double the amount spent on-line in 2010.  Since spending on Thanksgiving Day itself has more than doubled since 2010 and the amount spent from November 1st thru 26th has increased by more than 55%, it is clear that the overall sales trend has been consistently positive.  Clearly, as technology continues to advance and online opportunities increase, online shopping will no doubt come to dominate the Black Friday landscape, and Cyber Monday will continue to drive more revenue for eCommerce brands and online retailers.

So what can we, as marketing specialists, do to best take advantage of this trend?  First, it is absolutely essential that your web site is user-friendly and equipped to handle electronic commerce on a variety of platforms.  Responsive website design (RWD) allows you to provide an optimal viewing and interaction experience across a wide range of devices ranging from desktop computer monitors to mobile phones.  This may prove to be particularly important in the years to come, as some experts estimate that, by the end of 2016, 25.0% of all retail ecommerce sales in the US will take place via mobile devices.  Finally, use your social media contacts by taking advantage of the latest innovations from Facebook that incorporate new “shop” and “services” sections, allowing you to add a significant amount of information about the products and services that you offer in a concise and easily accessible way.  Both Facebook and Pinterest are also planning to implement “buy button” offerings that will allow people to purchase a particular item in a few clicks within the platform.  These features can potentially make on-site conversions easier and more trackable, which will in turn make their advertising more valuable to retailers.

In the constantly changing landscape of marketing and customer relations it is vital to keep abreast of the latest trends and innovations.  If you are interested in discussing how McCauley Marketing Services can help you stay ahead of the curve and keep your brand optimized, contact us to schedule a meeting.  For all the latest marketing and advertising tips, follow us on Facebook, Twitter, and Google+.