Indeed, not only does e-commerce account for 8% of all retail sales in the U.S., online retail is expected to outpace sales growth at physical stores over the next 5 years, reaching an incredible $370 billion by 2017.
And it’s not just e-commerce websites that these numbers are credited to: sales of physical goods through social networks are pegged to grow to $14 billion of U.S. sales by 2015.
Shoppers now have access to a deep pool of information about goods and services. A full 66.9% of consumers turn to Twitter for intel on products, and 62% of shoppers search online for deals before at least half of their shopping trips.
This “online research moment” has been termed the “Zero Moment of Truth,” or ZMOT, of online retail.
For a better grasp of what ZMOT looks like for online shopping in 2013, check out the infographic below:
- A History of Social Media Advertising [INFOGRAPHIC]
- B2B Content Marketing Trends for 2015 [INFOGRAPHIC]
- Twitter vs Facebook: Key Statistics, Facts & Figures [INFOGRAPHIC]
- The Good and the Bad of Social Media Marketing [INFOGRAPHIC]