We watch trends to share them with our members and help them capture orders. Forbes shares 35 helpful e-commerce statistics and we picked out a few highlights for you below:
Key Statistics:
20.1% of retail purchases are expected to take place online in 2024.
By 2027, 23% of retail purchases are expected to take place online.
E-commerce sales are expected to grow 8.8% in 2024.
52% of online shoppers report shopping internationally.
Many years ago, as a new assistant at Lord & Taylor, the buyer cautioned me to not get too attached to people or merchandise. His wisdom was not cold-hearted, but a cautionary tale to keep emotional attachments in check. I was there to deliver strong financial results and if something wasn’t selling, I shouldn’t harp on it, but mark it down and move on. And, as far as work relationships were concerned, I should be a good coworker but not get attached to colleagues.
Seasons greetings from the PNW everyone! I was out shopping today and came across a sign in the wild promoting Shop Local, a concept near and dear to us and something we have believed in from the inception of the company..helping support local businesses in a way that's beneficial to all. So much so that we began transitioning Bridge to ShopLocal earlier this year.
This particular sign was in a mall similar to one that you may have near you. Having been decimated by big name brands pulling up...
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Reports suggest that 50% of purchases start on Amazon.com, and Amazon wants to keep it this way. Yet, businesses and merchants increasingly want to sell their products via their own DTC (direct to consumer) site, retailers' websites, Facebook, Instagram, and more. Due to this, Shopify, which powers many DTC and retailer websites, is a growing thorn in Amazon's dominance of retail. Shopify reportedly helps power more than 30% of online U.S. retail sales.
Good news: Bridge is helping your business make more sales and stop Amazon's growth. The reason: your Bridge team has gone to great lengths to ensure your Bridge software loads very quickly for your shoppers. A report shares that 41% of shoppers jump to Amazon when a site is slow. The report shares that the fastest site tested loaded in 2.2 seconds and the slowest was 43.9 seconds. Bridge's sites often load within 2 to 3 seconds, which places your Bridge Store at the front of the pack in ...
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March 2, 2020
March 2, 2020
Walmart follows Shopify and other players in to third-party fulfillment, shares RetailDive.
Other important metric tools: + Customer Conversion Rate (CCR) + Average Order Value (AOV) + Online CRR (Customer Retention Rate) +Online Order Frequency + Average Order Processing Time + Net Promoter Score (NPS)
I developed Bridge Network, an e-commerce platform, that is not included in this article. Here are some things I have learned over the last 20 years of e-commerce development:
1. The articleβs ranking criteria includes themes and templates. I believe you don't need an assortment of templates to have a functioning (or successful) e-commerce site. Just look at ...
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March 26, 2019
March 26, 2019
Great news: your Bridge is getting an upgrade in April. Our team has rebuilt the Bridge software from the ground up.
We're upgrading your business for free. This free upgrade is especially valuable because a new retail website costs $11,000 - $29,000 on average to setup. (Source: Atlantic Business Technologies.)
Juliska Partners with Bridge Catalog
Bridge Catalog supports indie retailers
March 26, 2018, Jaclyn Turner
NEW YORK— Premium tableware and home décor designer Juliska will partner with Bridge, an ecommerce platform, beginning May 1 to help authorized retailers increase their sales.
Bridge considers itself as Dropbox meeting Amazon meeting Facebook.
Cash-rich shoppers want their shopping to be quick and easy via their mobile phones, reports todayβs Times. Aka: they are increasingly likely to not want to spend time in a physical store.
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August 22, 2017
August 22, 2017
Amazon is competing against mom-and-pop hardware stores selling kitchen sinks and screws, report today's WSJ.
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August 9, 2017
August 9, 2017
David Hernandez shares some marketing tips in this week's HFN, including using influencers, reviews, and SEO. I'd add that David didn't mention an important feature: choice. Choice, also know as selection or inventory, is a major underlying factor for all other marketing tools. If there is no selection or a lack of online, then no matter how good ur marketing is--a customer can't buy online because the item does NOT exist online. Fundamentally your store has to have all items online in order to...
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August 5, 2017
August 5, 2017
How does your profit compare when selling an item online vs. in store? Today's WSJ shows that for brands (labels) that have physical stores, the profit online is greater. For retailers, the math shown would be different. The overall exercise in breaking down profit via different mediums is a good one and I encourage your business to do it. Ask: what are the costs associated with each channel that we sell thru.
Note: I think that this article's estimated marketing costs are too low. Marketing an ...
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July 9, 2017
July 9, 2017
Imagine you worked for 3 days straight and made $56? That's what happened to this business owner. This article on Shopify shows you hard it is for other online store owners to operate an online store and make a profile.
While the headline suggests success, any business person will see that that this article speaks more to the challenges than the opportunities.
I did like how Richard used his iPhone to do the photography, explored social media, and hit up his friends and family to make sales. He ...
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June 30, 2017
June 30, 2017
Each small business is unique...but most have the same problem: 75% donβt sell online
75% of the worldβs small businesses have yet to sell online. Meanwhile, 80% of consumers shop online. We are facing a drastic gap between what small businesses offer and what their customers expect.
This is resulting in 1,000βs of small businesses closing and Amazon.com growing in strength.
What if there was a way to help these indie stores open their doors to online business?
Bridge is the quickest way to open an ...
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May 13, 2017
May 13, 2017
Shopify has a nice read about 7 e-commerce mistakes. Here's a summary:
1. Don't assume having a website means you'll get traffic and orders. It takes WORK.
2. Be sure to add a logo.
3. Only show comment and reviews results if there are results. e.g.: don't show "0 comments" or "0 reviews".
4. Be sure to add an 'about us' section.
5. Take time work on your SEO. Skipping this is just laziness.
6. Focus on one or two key things--not six.
7. Point seven is really a repeat of point #6. Give what you ...
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April 10, 2017
April 10, 2017
How much effort are you putting into ecommerce? Cristina Fernandez notes that BBB is just ramping up while Williams-Sonoma is well under way to the ecommece future.
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