Today marks the 20th anniversary of what is widely regarded as the first secure online purchase.
On August 11, 1994, the “Ten Summoner’s Tales” album by Sting was bought for $12.48 plus shipping on NetMarket. Since then ecommerce has revolutionised the way we shop, how we shop and when we shop - but is changing an increasingly-complex retail environment at an ever-escalating pace.
UK online shopping now worth £100 billion a year
Figures from IMRG, the UK’s industry association for e-retail, predict that in 2014 online shopping will, for the first time, break the £100b a year mark, and recent ONS statistics reveal that to date 74% of all British adults have bought goods or services online.
Roger Brown, CEO for leading personalisation company Peerius, commented: “Ecommerce and mobile technology have empowered consumers as they are no longer restricted to particular goods and services from one retailer or locality as they can shop around different brands and even in different countries at their convenience. A revolution in value, pricing and delivery over two decades means that today we can enjoy the “Ten Summoner’s Tales” album online for free on Spotify and traditional record stores have all but disappeared.
Mobile forcing retailer to adapt rapidly
“But many high street retailers continue to thrive and understand how online shopping can complement in-store shopping and not compete," continued Brown. "Ultimately online is a digital store and is working towards the same business goals – to deliver an engaging shopping experience and drive sales. The mass adoption of mobile devices is forcing retailers to adapt rapidly to changing consumer behaviour and recent stats from IMRG also reveal that multichannel retailers are outperforming online-only retailers on mobile devices.
“Traditionally shopping was a leisure activity and with today’s busy lifestyles it needs to adapt to this pressure. Online shopping enables consumers to browse freely, purchase quickly and find information easily wherever they are and on their preferred device. The rise of geo-location technology will further revolutionise both online and in-store shopping as consumers receive personalised messages in real-time to create an engaging experience however they prefer to purchase goods or services.”
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