Companies that do not have an ecommerce operation are losing money, according to a new retail study by consulting firm Deloitte that shows a heavy user reliance on mobile devices in making in-store purchases.
The report, entitled The New Digital Divide and available for download in PDF form here, says that the explosion in the growth and use of digital devices for shopping is happening faster than anyone thought. Research carried out by the global financial advisory firm shows that digital technology now accounts for 36 percent of in-store sales, worth around $1.1 trillion.
That figure is forecast to rise to half of in-store sales by the end of this year, according to Deloitte’s projections. We have reached, says the company, “a tipping point in retail”, where digital has become the foundation for companies, helping to drive their bricks-and-mortar operations forward. Simply put, companies that do not have a sufficient digital presence are losing out, and badly.
Setting up an ecommerce operation doesn’t have to be taxing for companies, or break the bank. Magneto is one of the best ecommerce content management systems available today, providing companies with a state-of-the-art online store where visitors can browse products and services before either buying online or using it as a guide to in-store buys.
A Magento developer will ensure when setting up a new site that it’s configured for the range of digital devices that people use today, particularly smartphones and tablets, which are increasingly being used to make online purchases. It’s no longer an option for firms to just have a site available for PCs and laptops; it must be responsive to whatever device is accessing it and display properly and with full functionality – otherwise, people will quickly go elsewhere and you will lose out.
Among the other findings of the Deloitte research are that many companies are still not either placing enough emphasis on digital operations or that there’s a lack of understanding in how it impacts on the fundamentals of doing business, such as the size of orders, conversion rates, customer loyalty and actual traffic itself. It shows there’s a long way to go in reaping big benefits from ecommerce.