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2010 Increase in Internet Sales Outpace Traditional Brick and Mortar Store Sales Increases
Today I find myself sitting on an airplane bound for Denver with a bag full of magazines to read. The first one out of my bag is the December 27 Furniture Today Planning Guide. In it was a recap of the 2010 furniture and bedding sales for retailers and suppliers. Retail sales increased 2.9% in 2010 from 2009. But 2009 was down 8.1% from 2008 which was down 6.2% from 2007. If my math is right, we as an industry are still down over 11% since 2007.
The next magazine out of my bag was the January 2011 issue of Intenet Retailer. In the feature commentary they wrote that overal retail sales in the 4th quarter were up 3% but online sales were up 13.5% and mobile commerce more than doubled.
These trends are not disappearing. Internet specialists like HayNeedle and CSN are growing. But so are the online offerings of Top 100 retailers.
If you are a rep selling to furniture stores you better helpmthem figure out how to sell your stuff online. If you are a traditional retailer that has not embraced the Internet or mobile sales yet, you are giving up the strongest new channel of retail sales.
Don't get left behind! Make 2011 be the year you embrace E-commerce sales.
As always, feel free to comment.