Today’s customers can purchase a variety of items online with minimum effort. Given this scenario, brick and mortar companies are fighting to stay alive with the fierce internet competition. According to a 2017 survey conducted by Square and Mercury Analytics looking at 1,164 U.S. business owners, the following observations were made:
- 96% of Americans with internet access have made an online purchase in their life, 80% in the past month alone.
- 51% of Americans prefer to shop online.
- 67% of Millennials and 56% of Gen Xers prefer to shop online rather than in-store.
- Millennials and Gen Xers spend nearly 50% as much time shopping online each week (six hours) than their older counterparts (four hours).
- 51% of seniors have shopped on marketplaces, 66% at large retailer sites, 30% on web stores or independent boutiques, and 44% at category-specific online stores.
Marketing professionals understand the importance of the internet and how to effectively leverage this power. According to Socialmedia.com, 90% of marketers use social media for their businesses. Sadly, many small businesses do not recognize this fact. Many businesses had opted to bury their heads in the sand in hopes that this ‘internet thing’ will go away. It hadn’t!