In 2018, Cyber Monday online sales hit a new record… and, for the first time ever, surpassed Black Friday sales. Fast forward a year and U.S. shoppers broke another eCommerce record by racking up $9.4 billion in online sales. And, yet again, Cyber Monday beat out Black Friday. At its peak, consumers spent $12 million per minute!
The last year has proven unequivocally that eCommerce is well on its way to being the king of shopping. So, what does that mean for your business? You better be prepared.
The Rise of Online Sales
eCommerce has been growing steadily over the last two decades. 2019 saw worldwide revenue coming in over $3.5 trillion. And by 2040, some predict that 95% of purchases will be facilitated by eCommerce. With those kinds of your numbers, in order to be successful, your business needs to be ready for the eCommerce wave.
You may be thinking, “But I’m a brick and mortar store. Why does eCommerce matter to me?”
It matters because 87% of all shoppers begin product searches on digital channels and 88% of consumers who do a local search on their phone then visit or call a store within a day. The shopping experience starts online. And if you don’t have a strong online presence or aren’t selling online, you’re falling behind your competitors.
Follow these 5 steps to get your business more into the eCommerce game.