Big Data in a Small Space
Some interesting stats from the graphic include:
- 90% of shoppers use their smartphone for pre-shopping tasks
- One in three people prefer social media over telephone customer service
- By 2010, iTunes had sold more than 25 billion songs
In discussing the future of how we shop, the report says that by 2016 global ecommerce retail sales will reach $1,321.4 Trillion, a 67% increase from 2011 This exceeds the 2012 GDPS by $878.4 BN in Indonesia, $789.26 BN in Turkey, $772.23 BN in the Netherlands, and $632.2 in Switzerland.
In the UK, 59% of shoppers refuse to wait in queue. 32% would opt to buy online if faced with a queue, and another 18% would go to another shop. Each year, says the report, queues result in an estimated $20.65 MM in sales.
And with regard to M-Shoppers, 21% of all consumers use mobile devices while in retail stores to improve the shopping experience. 74% are over 29 years old and 20% are over 50 years old. 52% of M-shoppers do price checking and 50% search for information or reviews.
M-shoppers are more likely to purchase in store if these conditions are met:
- 73% want free home delivery
- 63% say extended warranty
- 20% want checkout via mobile wallet
- 60% say if they find online reviews
- 55% with advice from friend of family
- 52% want additional product information
About online retail, the data shows that in 2012 Ecommerce accounts accounted for 10.4% of UK retail sales, while in 2013 global Ecommerce sales will increase 18.3% to reach $1,298 Trillion. 84% of shoppers use their Smart phone in stores, and 90% for pre-shopping tasks.
Shopping with social media says that 40% of consumers have purchased an item after posting about it; 70% obtain information about other consumers experience; 53% positively reviews brands that they like; 17% feel connected to brands they see on social sites. By 2017 there will be about 9 billion mobile devices in circulation.
Each time someone shares a product, says the report, businesses make an estimated $2.04. One in three consumers prefer social media over telephone customer service, and 86% of US online retailers have a social site, while 58% of users expect exclusive offers.
Odds and ends:
- In 2012 there were 111.7 million digital albums sold, 37.3% of all albums sold. 93.1 million them were department store sales. Individual track sales grew 51% between 2011 and 2012
- iTunes debuted in 2003 and has 435 million registered users in 119 countries. By 2010, iTunes was the world’s largest music retailer and has sold 25+ billion songs
- 68% of the population had desktop computers in 2006, dropping to 58 in 2013, while tablet ownership spiked 292% between 2011 and 2013
Finally, the data includes some Brick and Mortar store Suggestions
- Make store location easy to find on mobile device
- Ensure that reviews and detailed product information are easily discoverable
- List business hours in clear mobile-compatible format
- Embrace showrooming (provide store maps), but drive customers to site
- Anticipate and address price comparisons
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