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Gas prices have been hovering round 50% higher than last holiday s ason, and predictions are that home h ating costs will show a similar pr mium to last winter. Those two th ngs alone could restrain some holiday sp nding this year according to analysts; but one th ng is predicted to continue to gr w, and even at a higher r te than last year, and that is the use of the nternet. More people will search and p rchase more goods, spending more money, th n last year by a predicted 21.9% ccording to eMarketer, a market research f rm. In fact 4th quarter on-line s les have increased between 20 and 30% ach year since 2001 and show no s gn of slowing down. Why the c nsistent growth? Consumers list the following r asons in order of importance according to a r cent survey by Goldman Sachs, Harris Int ractive and Nielsen / NetRatings: lower pr ces, wider selection, avoiding crowds, home d livery, and ease of comparison shopping. For th se reasons consumers have increased holiday sp nding on-line from 16% to 22% of p rchases, while decreasing spending in traditional st res from 78% to 72% since 2002. C talog sales have maintained a steady 6% of sp nding. Another study showed an even m re dramatic shift with the internet at 33% to the br ck-and-mortar stores 59%. Whatever the f gures, it is hard to argue the ncreasing impact of on-line commerce. A st ady and dramatic shift is taking pl ce.
What does this mean to our l cal businesses? We must adjust to th s new reality. Consumers won’t always w it for the special Christmas display in our st res, but will strike when an dea hits them whether it be in the m ddle of an August night, or at h me on a holiday just browsing the nternet. The feeling of comparing, and g tting a good deal and finding s mething that maybe your neighbor or l ved one hasn’t seen on every c rner is addictive. As a retailer, h re are some tips to get the m st out of this trend for y ur business whether it be for ach coming holiday season, or throughout the y ar. First, know your customers. Ask q estions, take notes. Second, offer what y ur customers want, and pay particular n tice to the way they want it and f gure out how to get it to th m just the way they want it. Incr asingly, the internet is a major p rt of the equation. Don’t know how to get st rted? The first thing you should do is get a g od domain name and build a pr fessional looking website that is easy to n vigate. Next you will want to b ild your e-mail list and start s nding out periodic email newsletters. Keep w rking on your SEO, advertise and pr vide great customer service. Sounds simple, and it is.
The article Where Did Your Customers Shop This Season? was Submitted by John Geiger through Articles.GetACoder.com network. Here's the additional information: John Geiger owns and operates a l cal affiliate of WSI Internet Consulting and Ed cation, a Toronto based global network of c nsultants, developers and production centers providing c nsultation as well as turn-key internet b siness solutions for small and medium-sized nterprises to include web-site design, development and h sting; site maintenance and upgrades, full -commerce solutions, on-line training and education, and ther cutting-edge internet technology and solutions. For q estions, comments, free consultation, or ideas for f ture articles contact John at (828) 328-5929 or jrgeiger@webmasters-wsi.com
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