A surge is coming in online sales, and it's quickly becoming a reality that online sales could, and most likely will, surpass in-store sales for first time in history. According to Adobe's holiday retail report, online sales are expected to rise 13.8% this holiday season. Are you ready?
Surveys conducted show this projected increase in online sales is a result of better customer satisfaction in ease of searching, product quality, availability and delivery among others. Retailers should refine their online strategies in these areas and offer the best experience to take advantage of increased online traffic to close the deal. For companies built for e-commerce this is great news, but could be a hurdle for established stores still working to build their online presence and for companies not prepared with the infrastructure and distribution bandwidth the online surge will bring.
While retailers should continue to hone their online strategies, bringing in foot traffic remains a large percentage of holiday sales and should not be forgotten. Walmart recently released plans to triple their online assortment in addition to announcing plans to throw 20,000 holiday parties to bring in foot traffic into store and conduct product demos. Are you planning for increased in-store sales or are you ready to handle the surge of online shoppers? Or both?