Got to thinking about this since recently ….
Amazon Prime is pushing hard for sign-ups and online activity.
Conter-indicator: Recently, I’ve done more store-shopping than I have for a while.
Bought a TV from Best Buy online and satisfied my need for instant gratification by picking it up at a local store.
Glad I did, because the TV had an “issue” and needed to be replaced … a quick 2nd trip to the store got me up & running with virtually no hassle.
Bought a new boat motor at West Marine.
Shopped for one online, wanted to touch the real thing.
Glad that I did because I ended up having a seasoned pro salesman introduce me to a motor technology that I didn’t even knew existed – eco-friendly propane powered outboards.
That said, my 30-something kids scoff that they by everything online.
OK, so what’s the answer?
What percentage of retail sales are now being done online?
According to Strategy + Business, “Brick & Mortar is alive and Well”.
Industry data published in the Robin Report shows that the annual growth rate of e-commerce is slowing: from 30 percent in 2004 to roughly 16 percent in 2014, and is projected to be less than 10 percent in 2018.
The Robin Report also says that in 2014, about 80 percent of $4.5 trillion U.S. retail sales took place in stores, whereas e-commerce represented only 6 percent
And, half of the e-commerce sales actually took place in a brick-and-mortar shop, for example, through emailed offers collected by shoppers in-store or online pick-ups.
Of course, the numbers are a bit skewed since a large portion of retail sales are groceries and gas … stuff not easily bought online.
Still I expected the online percentage to be a lot higher ,,, and thought the growth would be increasing, not decreasing.
Maybe stores will still be around for a while.