For anyone who has looked at the surface of retail trends, it would seem like e-commerce is dominating the future. Many industry experts are pushing merchants to deploy a quality online shopping experience. However, when you dig deeper, it becomes clear that the brick-and-mortar is not dead.
A recent article from Street Fight Magazine stated that only 5 to 10 percent of total retail sales in the United States are made through e-commerce solutions. This means consumers still like the experience of entering a physical store.
The piece also recapped the recent Local Data Summit that the company ran. One panel featured several executives including Closely CEO Perry Evans, Retailigence CEO Jeremy Geiger, Goodzer CEO Mike Wilson and Krillion/Local Corp Shopping VP Sherry Thomas-Zon.
The group spoke about challenges as well as opportunities when it comes to bringing local inventory online. The group also makes the case that organizations can take advantage of this platform through data mining, but they need to have an online presence in order to be successful.
“A majority of online traffic is driven by urgency and impulse, and businesses that offer their inventory through a website in addition to a storefront can count on a large amount of volume stemming from those purchase patterns. However, certain products are best considered by potential buyers in an in-person context,” said Thomas-Zon during the panel.
By harnessing this data, organizations can better understand what drives online traffic against what brings customers into the store. With the use of a POS with fully integrated e-commerce solution, any company can easily improve reporting, sales numbers and increase customer satisfaction to create repeat business.