Feb 04, 2013 Dave King
Many traditional retailers were initially worried that electronic payments would damage their business, but recent reports indicate that ecommerce is boosting sales for online and brick-and-mortar companies alike.
"Retailers who understand the online landscape know it is constantly changing as a result of consumer trends and technology," said Maria Haggerty, president of Dotcom Distribution. "These retailers flourish because they stay on top of these trends and are dedicated to continually improving the online buying experience."
Both e-retailers and brick-and-mortar stores achieved increases in ecommerce sales, according to a recent Dotcom Distribution report, with some companies achieving growth rates of 335 and 484 percent.
The study also predicted that these sales will continue to rise, as retailers develop more sophisticated online strategies. Haggerty suggested that "personalization will be key in 2013," as consumers increasingly expect electronic payments to be faster and more individualized.
Meanwhile, another recent study by Morgan Stanley projected that ecommerce sales could top the $1 trillion plateau as early as 2016, according to Business Insider.
Mobile commerce on the rise
The Dotcom study predicted that one of the top ecommerce trends in 2013 will include implementing quality cross-channel shopping experiences, from in-store to the internet to mobile devices.
Mobile commerce experienced a breakout year in 2012, according to a separate report by eMarketer. Americans purchased $25 billion worth of products via their mobile devices, an 81 percent jump compared to 2011, to account for 11 percent of of all ecommerce sales.
In addition, the study predicted that mobile ecommerce will garner nearly $40 billion - or 15 percent of all electronic sales - in 2013, before making up 27.2 percent of the ecommerce market in 2016.
Americans are expected to make a substantial portion of mobile ecommerce purchases on tablets. Smartphones sales will also grow, albeit at a slower rate.