Losses, Mergers & Closures
Recently K-Mart announced that it is shutting down another 28 stores across the US and K-Mart isn’t the only retail giant shutting down brick and mortar stores. Are big retailers finally feeling the online shopping pinch? It looks like mobile search is keeping more customers out of stores than ever.
Big Box Store Examples
According to news reports, K-Mart planned to close 150 stores in 2017, having already closed 180 so far this year, and with another 28 on the way, it seems things are not going well for the Sears-owned retail giant.
Although they still have more than 1,000 active stores it is clear that they, and other retailers, are being pressured by the shift towards online purchases.
Is online shopping finally taking a big enough bite out of big box stores? It seems that the small screen is now a mighty force and retailers are now on notice.
eCommerce Stats for 2017
eCommerce continues to grow at an indicated 23% (year-over-year growth) in 2017. No surprise they also document an increase in mobile eCommerce with 52% of users now using mobile banking and 20% of Americans claiming to have made an online purchase while sat on the toilet.
The most telling statistic is that now 51% of Americans say they prefer to shop online, rather than in a brick and mortar store. This shows that the tide is slowly turning against physical retail stores.
Hungry for more online shopping stats? Check out the full report which includes more double-digit growth numbers.
Online Shopping Lessons for the Average Biz
So what are the important online shopping lessons to be learned from K-Mart’s retreat from towns?
- If you’re a retailer, make sure your online sales funnel is geared for desktop and mobile users.
- Mobile friendly websites are a must. We don’t recommend a separate mobile site; mobile friendliness should be built into your main online presence.
- Coordinate your organic SEO and Search Engine Marketing (aka AdWords or PPC) efforts. You’ll get a 30% organic lift while chasing market-share.
Did any of these online shopping stats surprise you?
How can we help?
Is your website mobile friendly? Not sure how to dig into your Analytics to find nuggets about your readers’ behavior?
We are the spectrum group, and we offer strategic and tactical consulting so you can monetize your online presence. Call us for a complimentary 30-minute consultation to discuss how to leverage customer testimonials.