A Few Facts that Jerked my Mind:
Fact A: US online apparel sales
According to one estimate, US online apparel sales (including accessories and footwear) reached $18.3 billion in 2006 and replaced computer hardware/software as the largest online retail category i.e a 31% increase over the previous year. However, US online apparel sales constitutes only 8% of the total transactions, many optimist online marketing experts expects the figure to grow in future.
Fact B: US consumer package goods (CPG)
The food and beverage category now leads the US consumer package goods (CPG) industry in online advertising, but in 2006 it still spent only a little over 2% of its total $8.6 billion advertising spending budget online. The CPG Online report analyzes the online spending trends of one of the largest and most influential advertising categories. Representing a large part of the category, food and beverage advertisers cut spending in every major media last year—except the Internet, and eMarketer estimates they will spend $288 million advertising online in 2007, a 36.6% increase over last year.
eMarketer estimates that “US retail e-commerce sales (excluding travel) will reach $131 billion this year. As the online channel matures, from now to 2011, the annual average growth rate will slow to 17.5% (contrasting 24.7% reported in the period 2003-05), and increased spending by existing online buyers–rather than new buyers coming online–will be the driving factor.”
However, if you see the report as a whole there are still great day ahead for the online marketers.
According to another report on total online population countrywide US Online User penetration is only 63%, Germany 47.8%, followed by other emerging markets like China- 10.2% , India-2.3%. In my country India, where total Credit Card penetration is not more than 2% on the date, but the percentage hopefully to increase by 10% in next course of 5-7 years, followed by extensive Micro-Credit Financing by NBFCs. Increased issue of Credit Cards, more research and implementation of internet security provisions will definitely boost the online transactions in developing countries like India and China, worldwide in overall…
India bears great potentiality into the future, where the real consuming class/ the middle class people is to hit 63% of the total population by 2011. Luxury, Consumer Durable, Electronics, and Jewelry are among the hot favorites in the online tray of these burgeoning Middle-Class Consumers. These class of people bears large propensity to consumption. Specially, in the metropolies (where retail markets like Pentaloon & BigBazar is available) the middle-class spending lavishly on luxury and household goods. The giant retail chains like Petnaloon has even camouflaged recently on Cyber Media by introducing FutureBazar.com. In the next 3-5 years I guess, FutureBazar.com will even bit eBay.in on total volume of online transactions.
So I think, there is every possibility for a small retailer or whole-seller to nab the market from the clutches of the Big Retail Chains, by implementing technology driven sales, adding value addition in services. By the word technology driven sales, I beg your notice to the Online Marts like- US-Canadian Gift & Flower Site Sendluv.com . Sebdluve.com provide need-based sales to its customers, shipping and typically provide concessions on costlier gift items too.
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And many more on….
