Let’s face it, consumers have cut back tremendously on their spending. Profits are down for many companies, and it doesn’t look like things are improving swiftly.
Unemployment is expected to keep increasing, even after the overall economy improves. We shouldn’t expect people to make a whole lot of purchases when they’re not sure if they’ll have enough income to pay for them.
Now is a good time to change our thinking on how to market to our customers.
I read an article on ZDNet, entitled “Forrester: e-commerce ‘better suited to withstand economic downturn’,” which gives some exciting information about the growth in the ecommerce industry, thanks, in part, to the economic downturn.
Ecommerce is a less-expensive way to do business because it doesn’t involve most of the usual costs of doing business in a mall or other shopping center. Plus, it’s cheaper to advertise online than in traditional media, as newspapers have painfully learned.
Most of their online spending is on email campaigns. Social media is also becoming a popular avenue for businesses, although search engine optimization is another way to reach targeted audiences. We had a seven-part series on search engine optimization that might be helpful in successfully implementing it on your website.
This topic is building on ideas I introduced back in March when I wrote back-to-back blog entries on the ecommerce industry: one about how retailers are investing in ecommerce and Web advertising, and the other on how consumers are spending more online.
In the second blog post, I pointed out that ecommerce sales will likely dip slightly in 2009 before increasing again in 2010. However, in the ZDNet article, the author says they might grow by 11 percent to $156.1 billion. Whichever study you look at, it appears ecommerce is outperforming nearly every other retail industry.
Profit attracts competition, so be mindful of how you enter into this market. Be sure to put your best foot forward by using eHarbor, Inc.’s affiliates to guide you through your website design and other important steps.
The photo of the water drop is from Flickr, and it is the copyright of Gaetan Lee.
Tags: article, consumer, Ecommerce, economy, eHarbor, Forrester, humor, Media, news, positive, research, retail, search engine optimization, SEO
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Didn’t know about it. Very nice information. Submitted this post to Google News Reader.