A study conducted in 2007 clearly shows that online retailers are not capitalizing on the customer experience and are overly focused on innovation while ignoring the basics.
U.S. online retail sales will more than double over the next six years, reaching $316 billion by 2010, according to a new report from Forrester Research — they expect e-commerce will grow to account for 12 percent of total retail sales in 2010, up from nearly 7 percent in 2004.
Industry observers report that, since the advent of the Internet, online sales have increased overall by about 25% annually (“Online Sales Lose Steam,” The New York Times - June 17, 2007). But they also note that sales are leveling off as customers return to brick-and-mortar venues for a more satisfying shopping experience.
A similar Forrester study in April 2006 revealed that only 26% of online consumers were simply satisfied with their shopping experience. This suggests a whopping 74% — three-quarters of online shoppers — weren’t even satisfied. And what of the remaining 26%? They weren’t delighted. They were merely “satisfied.” In other words, the shopping experience was, at best, adequate. Are retailers in a race to see who can be the “most adequate”?
U.S. online retail sales will more than double over the next six years, reaching $316 billion by 2010, according to a new report from Forrester Research — they expect e-commerce will grow to account for 12 percent of total retail sales in 2010, up from nearly 7 percent in 2004.
Industry observers report that, since the advent of the Internet, online sales have increased overall by about 25% annually (“Online Sales Lose Steam,” The New York Times - June 17, 2007). But they also note that sales are leveling off as customers return to brick-and-mortar venues for a more satisfying shopping experience.
A similar Forrester study in April 2006 revealed that only 26% of online consumers were simply satisfied with their shopping experience. This suggests a whopping 74% — three-quarters of online shoppers — weren’t even satisfied. And what of the remaining 26%? They weren’t delighted. They were merely “satisfied.” In other words, the shopping experience was, at best, adequate. Are retailers in a race to see who can be the “most adequate”?
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