To give retailers a better understanding, here are some of the most important 2016 online retail trends and facts. These are the trends and facts that will make a big impact on the retail industry. Retailers that stay ahead of the curve will have much to gain moving forward.
Consumer shopping behavior is drastically changing and retailers that want to succeed have to stay flexible. Adaptation to what the industry standard is becoming and to what the consumer expects is critical to success. A business that looks dated online can loose customers and sales quickly.
The below trends are a couple of the more important facts and trends retailers should pay attention too. To succeed with online sales, these trends must be considered by any company.
2016 Online Retail Trends And Facts
Cross-Channel retail sales.
Consumers are going to continue to expect retailers to offer their products on multiple platforms. Cross-channel retails sales will continue to be a strong trend for most major online retail industries. Social media platforms are becoming online shopping enabled, which retailers will have to continue to cross-sell. Forrester predicts that cross-channel retails sales will reach over $1.8 trillion in the US by 2017.
Quality over quantity in selection.
Going forward in 2016, it will be very important for retailers to curate items carefully for their desired target audience and customers. Simply stocking more merchandise will not win over customers in the future. Shoppers these days are already overwhelmed with too many choices. Widening selection can do more harm than good with online retailing.
Additional payment options.
The convenience of mobile payments are seen everywhere. Just go to a Starbucks and see people paying with their phones. Mobile payment solutions are on the rise and merchants are updating their payment methods. Offering additional payment options can noticeably increase customer satisfaction, profits, and customer acquisition even.
Retailers that want to ensure that their online stores, e-commerce websites, and operations are producing the desired results can always work with professionals. Experts in marketing services, consulting, design and development can drastically improve the results for retailers.