NPR Radio Talks About Growth in Online Shopping!

Well, it is always nice to know that a business, namely ecommerce, that I believe is going to continue to grow and change the way people shop is finally being recognized by the mainstream press more and more everyday. This is good news for all online merchants and those of us who love ecommerce.

Also, for my sake, it is nice to know that I am not living in a bubble and I am the only one that thinks that Wall Street analysts are too conservative about the growth of online shopping over the next decade. I have stated over and over again that Wall Street analysts’ predictions that online shopping will represent 5-7% of total retail by 2015 is off by about 100%.  I think it will be 15% of total retail and here is why. 

Behavior patterns meet technologies that take online shopping to a new level.

As reported on NPR Radio this morning :

“For the first time online shoppers bought more clothes than computer hardware and software, demonstrating consumers have reached a new level of comfort buying merchandise over the Internet. Merchants have made it easier for consumers by installing features such as a virtual dressing room, and also offering free returns. Technology writer Mario Armstrong talks with Renee Montagne about new trends in online shopping.”

Okay so what does this all mean. 

1. It means that consumers have no problem with shopping online and are willing to do it as long as etailers make it exciting and fun and interactive  (even though they remain concerned about other people getting their billing information)
2. It means that, as in any business, consumers expect more from companies that what they got last year, especially in the online world… and those companies that make it fun and exciting to shop will win
3. It means that old technologies are just that…old, boring, and stade…and that online retailers must invest in new technologies that make shopping online unique and more fun than actually shopping in a stores to stay ahead and leverage existing behavior patterns.

The part of the NPR story that really caught my ear was when they spoke to etailers using technologies that make an online shopping experience more fun and interesting than actually going into a store.  Is this possible? Yes.

When I attended the 2007 National Retailer Federation trade show in New York City, I tried out a technology that put me in front of a mirror and then clicked on clothes that came up as reflections in the mirror on my body. It was amazing!  The problem I thought was that while very cool, how many of these “new mirrors” could you fit in a store and how long would I have to wait in line to test it out if I was in a store?  All it takes is one “fab diva” to spend an hour or more trying on clothes.  LOL

In comes, etail.  Well lo and behold, I can do the similar thing today online via a “virtual dressing room” (as referred to on NPR Radio) and for those etailers selling furniture, how about a “virtual show room” and “point and click features” that place a couch in a room that looks just like your room at home?  You can ONLY do this on a computer and why race down to the store to do it on your computer when you can do it online from the comfort of your own home?

What’s is even better is once you have decided what “dress” or “couch” you like best you can immediately email that “image” to your friends for approval and voila, the instant gratification communication feedback that we all love today in the form of text messages, IM’s, phone pictures and videos is now leveraged to the hilt. Get it? 

Online shopping is here not only to stay but grow. 

The sooner etailers get on top of how to better engage and interact with their customers in a fun way that leverages our “known behavior pattern” of using wireless PDAs, Blackberry/Trio type of devices, video, mobile commerce coupons, and yes even music downloads as incentives to buy products the better chance you of have of staying of ahead of your competition, saving thousands of dollars on ineffective offline marketing campaigns and interacting with a customer base that you can market to over and over and over again once you have their email address!

HELPFUL TIPS FOR THE DAY:

1. Shopping online is growing faster than so-called experts predict = because new technologies are leveraging new behaviour patterns.

2. Etailers would do well to see that simply clicking and buying a product on your storefront is getting stade, old and boring = leads to losing customers.

3. Embracing new online technologies to reach customers can be more cost-effective than off line marketing efforts, especially when you have ANALYTICS to see how it is all working.

4. Online shopping can actually be MORE fun, entertaining, and unique than an in-store experience = businesses that are creative online really do well!