E-commerce companies in the U.S. should invest more in advertising and marketing strategies for this year and in the near future, as a new study predicted the continual growth of the online retail sector.
If your business focuses in Utah, an ad agency like Red Rider Creative will help you gain more exposure online among your target customers.
Forrester Research’s study showed that e-commerce sales would reach more than $506 billion in 2018, mostly because 98% of adult Americans are online at least once every day. By the end of this year, the study noted that online retail transactions would account for more than half of the $3.7 trillion retail industry. The sales figure would further increase to more than $712 billion in 2022.
While this is good news, companies should expect that competition would become even greater. Most people now shop online since they find it more convenient to look for product information, as opposed to buying items in-store.
Overall retail sales rebounded in March after a lackluster performance in the first two months of the year. The slowdown between January and February occurred as Americans held back on their spending after the holidays. Economists expect sales to remain stable in the coming months, due to positive consumer confidence, job growth and the effects of corporate tax cuts.
Amazon will continue to be a major player in the industry, although there are ways to divert some of their customer traffic to your network. Some ways to do this involve investing in web optimization for mobile phones. The Forrester study revealed that smartphones would drive more than $1.3 trillion in sales for 2018.
As online retail expands its footprint in the U.S., e-commerce companies can no longer ignore a substantial impact of a poor advertising and marketing strategy. What is your business plan for this year?