eCommerce is Accelerating! Two news items today...are your 2015 plans ready for it?
These items caught our eye today:
1. W.W. Grainger's Q3 results and commentary are available here - in summary eCommerce is an accelerating part of their business that accounted for 35% of total sales (compared with 33% in 2013 Q3) as revenue overall grew 7%.
Because eCommerce is becoming a bigger share of total revenue, eCommerce revenue is growing faster than overall revenue. For more suggestions on growing industrial B2B sales online see this blog post, B2B Industrial Selling in 2014 - A 4 Step Epiphany.
2. Half of Automotive advertising is about to be digital. The 2014-2015 Automotive Advertising Outlook from Borrell says that, this year, for the first time, more than half of Automotive advertising dollars will be spent on digital media. At $35.5 billion, Automotive is the second-largest advertising category, behind General Merchandise Stores. Car sales are up 5% this year and ad budgets are up 17%. Online media accounts for 95% of this year’s increase.
Our take is that online marketing spend is accelerating because that's the channel with the greatest revenue growth potential. For more suggestions on growing your own eCommerce revenue see this blog post, Is your website as good as Amazon Grainger or McMaster
Are your 2015 plans ready for eCommerce acceleration? If not we can probably help you.
Let us know what you think - comments welcome below...