Joe Craparotta, on March 8, 2017
The average value for an online purchase in the U.S. is just over $85. Would you leave $85 lying out in the open for anyone to take? Probably not. Yet we do this on an almost daily basis with packages that have equal and sometimes greater value, as they are left unattended on porches and front steps.
Recent studies show that people enjoy making their purchases online, but going in store to pick up their item. Reasons range from convenience, to cost savings, to security.
Joe Craparotta, on March 2, 2017
Joe Craparotta, on February 22, 2017
Take a look at the latest trends in retail, and one fact becomes abundantly clear: e-commerce is the only place where substantial growth is occurring. With double-digit growth annually over the past few years, e-commerce is the future of retail.
But not all e-commerce is created equal. By that I mean not every e-commerce business knows what it takes to be successful in the current customer-centered climate.
Joe Craparotta, on February 15, 2017
The United States is the biggest consumer market in the world. But the demographic makeup of our nation's consumers is changing — and fast.
Six years ago, for the first time in U.S. history, the majority of children under age 1 were non-white. Three years from now, statisticians say a majority of all children in the United States will be non-white. And by 2050, it’s estimated that whites will be a minority of the United States population for the first time.
Joe Craparotta, on February 8, 2017
Here in the United States, we seem to have a real soft spot for things that are trending across the
pond in the United Kingdom.
Just think about some of the most popular shows on American TV — “The Office,” “Antiques Roadshow,” “House of Cards,” “American Idol,” “Hell’s Kitchen,” “Dancing With the Stars,” “Undercover Boss,” “Who Wants to Be A Millionaire,” and “Wife Swap.” Every one of them was copied from a popular TV show in the UK.
And now we Americans have commandeered an emerging e-commerce phenomenon first identified by our neighbors abroad called “Click and Collect.” You may have heard the concept under another moniker — such as in-store pickup. Either way, if you're an e-commerce business owner, it's a concept you should know and embrace.
Joe Craparotta, on February 1, 2017
The word "omnichannel" has become omnipresent in the lives of e-commerce business owners. The customer-driven demand for multiple shopping methods is forcing companies to transform their logistics and inventory strategies.
Joe Craparotta, on January 25, 2017
It’s a tough time of year for most e-commerce businesses. Nationwide, January and February tend to be the slowest months for retailers, according to the U.S. Census Bureau. Most consumers are nursing their holiday-shopping credit-card hangovers, or bracing for tax season, or perhaps spending lots of income on basic commodities like heating and electricity.
Joe Craparotta, on January 11, 2017
The new year inspires all of us to make resolutions and — here’s the hard part — actually achieve them. You know how it
goes: Fitness centers overflow with people who have resolved to lose weight in January. But how many of those people will be there in 3 or 6 months? Just a handful who have the resolve to see through their goals.
Joe Craparotta, on January 4, 2017
The holiday shopping season is over, and, if you are in the e-commerce business, you probably saw a handsome bump in sales. Nationwide, online purchases increased by about 17 percent during the 2016 holiday shopping season.
Now comes the challenge: holiday returns. Items purchased online have a shockingly high return rate — anywhere from 15 percent to 30 percent, depending on the item. (Clothes and electronics tend to have the highest returns). That rate is about three times as high as the return rate of in-store purchases.
Holiday returns create a logistical problem and inflict a very large expense on your bottom line. For businesses that operate purely online, customers are no doubt expecting that you will pay for the full cost of shipping the item back to you. They’ll also expect a full refund. And your resale value of the item is probably greatly diminished, especially if the packaging was opened. Once all the tallying is done, you’ll no doubt lose money on that item.
As e-commerce continues to be the fastest growing segment of the retail market, you can be sure that the amount of returns — and their drag on your bottom line — will grow just as fast. It’s little wonder why CNBC recently called gift returns a “ticking time bomb” that cost retailers $260 billion last year.
Joe Craparotta, on December 28, 2016
With New Year's Day almost upon us, it’s the perfect time to reflect on the past year and start making resolutions for 2017.
If you manage a business, hopefully 2016 was good to you. In general it was a kind year for many e-commerce businesses, with consumers shifting their buying habits heavily toward online retailers. The period between Black Friday and Christmas Eve saw e-commerce sales increase substantially — up 17.2 percent from the prior year. And that shift is predicted to increase again in 2017.
Along with that phenomenal e-commerce growth comes some interesting trends in consumer behavior and expectations. Let’s take a look at three of those trends, and how you can embrace them to make your 2017 more successful and profitable.
