Retailers Combine Online and Brick & Mortar for Holiday Season

The countdown to Christmas has begun and according to British internet entrepreneur Ben Hatton “brands are upping their game to grab a slice of the online consumer spend”.

His article in the Liverpool Daily Post states that consumers are expected to spend £7.75bn (That’s almost $12 billion) in the next three weeks, according to the online retail trade association IMRG. Last week’s cyber Monday saw online sales skyrocket in comparison to the past three years.

Visa estimates that £303m ($476 million) was spent online on their cards last Monday. In spite of the seemingly global recession, this figure is 12% higher than sales recorded last year.  To what do retailers attribute this increase? Maybe it’s the abundance of deals because of increased competition, or maybe it’s the fact that consumers are more comfortable with shopping online because of increased security. (Either way, I’m doing some of my shopping online this year too!)

What problems are retailers facing this season? Mainly the lack of consumer confidence in the economy, resulting in the internet savvy buyer looking for the best deals they can find, whether it be online or in a brick-and-mortar store. Online retailing continues to be a profitable domain for brands with sales up 14% on this time last year, according to IMRG.

Another online-buying tool that makes it easier for consumers; Mobile technology. Over 25% of smart phone users use their mobile phones to assist in their holiday gift buying (I know I have!)

A survey by Gumtree has found that online daily deals and voucher websites are being used by 70% of consumers to help fund Christmas this year. (Don’t we know!)

The customer experience doesn’t end when you leave the website. If the retailer has a strong “real-life” presence, they need to streamline that with their online presence. IMRG anticipates that 90% of transactions this season will be either over the internet or strongly influenced by it, consumers having done research or getting suggestions or ideas online.

Read the entire article here: Liverpool Daily Post