Technology

Retail Forecast For 2017: Digital Commerce Is The New Black

Alexandre Soncini
Alexandre Soncini February 9, 2017
Retail Forecast For 2017: Digital Commerce Is The New Black

It’s no secret that the retail industry, both online and in-store continue to grow, however predictions from the National Retail Federation are anticipating an exceptional amount of growth for 2017.

From a report that was just released, they are predicting an average of 3.7 – 4.2% growth over 2016’s numbers. including a combination of digital/online and brick and mortar sales. Nonstore sales alone are expected to see advancement at rates between 8-12%, which includes online retail, mail order catalog sales, phone sales, and additional direct-to-consumer options, and this is a very positive sign for the year ahead regarding business projections and as an overview of the American economy.

The fourth quarter in 2016 reported sales of $145.49 billion for all nonstore sales, which was a 12.5% increase of 2015’s numbers, according to the US Commerce Department. Judging by this report from Q4, predictions for digital commerce are expected, on their own, to increase at a rate of 16% during the same Q4 period this year; indicative of expansion that has not been seen since 2013.

This is very positive news for the digital commerce industry, as well as the overall economy as it signals positive action in all areas. Additionally, it makes it clear that having the best services in place, along with the most advanced website platform and technology to handle the incoming shift in growth would be in the best interest of retailers aiming to get their stores ready for the impending gains ahead.

“It is clear that online sales will continue to expand in 2017 and provide growth for the retail industry,” NRF Chief Economist Jack Kleinhenz said. “But it is important to realize that virtually every major retailer sells online and many of those sales will be made by discount stores, department stores and other traditional retailers. Retailers sell to consumers however they want to buy, whether it’s in-store, online or mobile.” Clearly, this is evidence that those prepared, and willing to go the extra mile to serve the needs of their customers are going to experience the greatest cut of the opportunities.

In the US, retail still remains the largest private sector employing entity, supplying one in four jobs; or 24 million Americans. Growth in this sector influences so many others, and because retail is growing faster than it ever has, it is presenting excellent opportunities for many companies to grow right along with it. More than ever, it is clear that having the best technology available to capitalize on these trends is necessary if you are operating in this business.

VTEX offers one of the most scalable options as a platform, and is ready to service the needs of those gearing up for a higher level of unified commerce in the months and years to come. Our platform is designed to auto-scale to the demands of traffic, is accessible through a variety of channels including mobile and marketplace, and is known for its ability to outperform its competitors through its elastic-cloud infrastructure that can function without crashing during the most critical points of traffic, such as Black Friday. Suffice it to say, as far as a 16% growth goes for Q4 in 2017, here at VTEX we are ready for everything!

Keep Reading: Related Stories
Strategy

Unified Commerce: algorithms are central to the consumer journey and to results

Omnichannel and Unified Commerce became part of strategic discussions and are present in the day to day reality…

Felipe Mattos
Felipe Mattos
Product

Store Framework: How VTEX optimized store performance with React

The challenge of improving e-commerce performance is not simple. Losing sales due to a slow website is one…

Rodrigo Affonso
Rodrigo Affonso
Product

What we learned from Data Indexing System here at VTEX

The science and technology of working with data are now one of the main drivers of success in…

Rodrigo Abinader
Rodrigo Abinader
Technology

What are Progressive Web Apps (PWAs) and its benefits?

Users are impatient. If a page doesn’t load within a couple of seconds, a lot of them will…

Rafael Esberard
Rafael Esberard
Strategy

The next generation marketplaces: Challenges and Opportunities

By definition, a marketplace is where a group of people gather to purchase and sell a large number…

VTEX
VTEX
Technology

How is Voice Commerce Changing the e-Commerce Purchase Experience?

Customers have always used their voices to ask for more information or to purchase a product or service,…

Gabriel Villa
Gabriel Villa
Technology

The future of e-Commerce using Blockchain Technology

Current Data-Challenge for Retailers Due to the boom in data breaches and the latest issue of Facebook’s privacy…

VTEX
VTEX
Technology

Artificial Intelligent E-Commerce Experience NOW!

There is a question, right now, pesting the mind of all E-Commerce leaders: How will the Artificial Intelligence…

Rafael Esberard
Rafael Esberard
Marketing

Chatbots are Boosting Sales in E-Commerce

What You Don’t Know About Chatbots Could be Costing You Sales & Customer Satisfaction Think communication streamlined, automated,…

Alexandre Soncini
Alexandre Soncini
See More