By Jennifer Sherman, SVP, Product and Strategy, Kibo
Have you heard the true story about today’s online shopper? It’s a tale about a retail milestone with a crazy plot twist that has recently earned countless headlines: online shoppers make more than half of all their retail purchases on the web. But, as the plot thickens, the story continues on to tell us that eCommerce revenues still trail the number of orders by a significant margin.
What critical lesson can we take away from this true tale?
Merchants must do more to drive purchase volume and boost order value no matter the purchase channel, end of story.
According to a report from comScore and UPS, among regular shoppers, 51% of their purchases were made online. For this audience, the number of non-grocery transactions occurring solely in-store dropped to 20% of the total, while more than 4 in 10 purchases were made solely online and 38% were triggered by a combination of online and in-store experiences. But the dollar value of these purchases lags the volume. In fact, online purchasing is forecasted by Forrester to comprise just 11 percent of all retail revenues this year.