eCommerce is driving retail profitability as companies become more innovative and overcome their technology hurdles.
Research firm, L2 presents an impressive report on the pace of eCommerce growth and the best practices making it happen. The 71 Specialty Retailers included in L2′s report have ramped up their digital spend significantly. Challenged by Amazon and understanding the potential of eCommerce, they are making serious investments in digital and mobile channels to drive online and brick and mortar sales.
According to L2′s report, eCommerce now totals 8% of retail sales in the U.S. It is expected to outpace brick and mortar stores over the next five years reaching $370 billion dollars in sale by 2017. Amazon, the leading specialty retailer, reached 14% of eCommerce sales in 2012.
On the Ball – focuses on profitable retail observations and insights observed from my personal experience on both the agency as well as client side of the business.
It has been said that virtually all selling and marketing is ‘retail’ – when measurable results are the imperative.
My tenure as CMO as well as agency principal centered around measurable results at the cash register…. the ultimate measure of any CMO’s job life expectancy.