| RETAILERS LURE
ONLINE CONSUMERS WITH PERKS AND DISCOUNTS
There
may be no free rides in life, but when it comes
to online purchases there are some things to celebrate.
One of those is free shipping and special discounts.
The goal is to get shoppers to spend more time
and money shopping online.
Two weeks ago Gap launched Piperlime. The site
offers fashion advice from celebrity stylist Rachel
Zoe and year-round free shipping and returns.
There are more than 100 brands of shoes as well
(this consumer wants choices).
''That is a classic example of taking advantage
of your existing customer base and trying to up-sell
them,'' said Sucharita Mulpuru, an analyst at
the technology consulting firm Forrester Research.
The reason for this retail courting is due to
the fact that the number of new online shoppers
is leveling off. Therefore retailers are looking
for new ways to ensure their existing customers
stay loyal to their brand and their site.
Online sales have slowed in recent years, though
it is still outperforming traditional retail stores.
In 2002 online retail sales were up 43.8 percent,
to $53.5 billion, according to the trade group
Shop.org. This year, online sales are predicted
to increase 21.5 percent.
A report by Forrester Research showed that ten
percent of online shoppers spent $500 or more
in the past three months. These loyal Web shoppers
have an average household income of $91,296, and
more than half have a college degree, Forrester
said.
Getting them to spend more on the Web is important,
but Erika Serow, a partner at management consulting
firm Bain & Co., said online retailers also
need to focus on convenience, easy navigation,
checkout and providing detailed information about
merchandise. By contrast, new shoppers are most
concerned that their transactions are secure.
''You don't need to fancy up the Web experience,''
Serow said. “You just need to make sure
it’s as consistent and pleasant as an in-store
experience.''
Wal-Mart has the same goal. Their revamped website
now features simplified designs and pop-up boxes
with product details. A link to items with price
reductions is in a column on the left side of
the page to make way for rotating
Shop.org estimates that online sales will make
up only 5.5 percent of total retail sales this
year. But according to Forrester, the market share
for online retailers could rise as much as 15
percent. |