Online Retail Sales will see a decline in e-commerce sales growth by 3.8% this year, according to eMarketer’s latest forecast. That said, these sales are not lost; consumers are simply shifting where they purchase.
Key Insights from article:
- Consumers who were once going directly to the retailer’s site to make a purchase, are now finding that they can make these same purchases on Amazon
- With fast—and sometimes free—shipping, it’s not surprising that more of these sales are happening on Amazon
- Studies have shown that digital buyers like marketplaces for competitive pricing and free shipping. Additionally, repeat buyers favor marketplaces over online retailers
- As for brand marketers—according to a Q2 2018 survey by the CMO Council and eBay—half are concerned most with conflict or cannibalization of traditional retail channels due to consumers’ growing preference for online marketplaces. But that also leaves the other half that aren’t concerned with the competition. Additionally, 56% of brand marketers worldwide thought online marketplaces were reinventing and revolutionizing global retail.
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