Retail is moving closer to an omnichannel world where some shopping trips can be achieved with a few clicks and others require a trip to see and touch the product before purchase. In response, traditional retailers are making online moves, online retailers are starting to gain a physical presence and things are changing constantly as merchants on both sides figure out how to meet the new demands, writes marketer Lisa Arthur.
DailyJocks men's fashion blogger Nicholas Egonidis launched a subscription website six months ago that sells a monthly selection of underwear, an enterprise that's drawn about 5,000 subscribers. Subscription online shopping seems to be gaining more fans, especially when it comes to clothing and cosmetics. However, the model is likely to remain a niche in the larger online-retail picture, experts say.
Whether it uses an algorithm such as Etsy's gift finder or the collective taste of the community at sites such as Modcloth or Threadless, online retail sites are finding increasing value in offering curated shopping experiences. These sites add value by helping consumers wade through the sea of options and improving the likelihood that a purchase will live up to expectations, writes Spreadshirt CEO Philip Rourke.
U.S. online retail sales are on track to rise 13% to $262 billion this year and hit $370 billion by 2017, according to Forrester Research. By then, e-commerce will account for about 10% of all U.S. retail sales, up from about 8% now, the report says.
A mobile-payment solution designed particularly for regions with little banking access is being offered by a partnership between payment solution provider Alaric and Mistral Mobile. Financial institutions can integrate the platform with their cards and other payment options.