In a recent online article, CEO of Pricefalls, Elliot Moskow, was quoted as saying, “Online shopping is already big, with e-commerce sales representing 3.7% of total retail sales in 2009. However, it is forecasted to make up 8% of total retail sales by 2014 and the growth will come from young shoppers who are dissatisfied with brick-and-mortar stores.”
He couldn’t be more right and scout’s honor I’m not just saying that because I have to!
In a recent study conducted by educational non-profits the Joan Ganz Cooney Center and the Sesame Workshop they concluded that, “Nearly 80% of children between the ages of 0 and 5 who use the Internet in the United States, do so on at least a weekly basis.” As these 0-5 year olds continue to grow up so will their Internet use and they will truly become Internet natives.
For those not familiar with the term Internet natives, it was one introduced to me by a loyal follower of this blog. It is defined as the generation of individuals who grow up with the Internet intertwined with their lives and grow with it as the Internet does. To foil this term, the opposite of an Internet native is an Internet immigrant, or one who has transitioned into using the Internet in their daily lives.
Leading back to the opening quote, as the years pass those considered Internet natives will begin to decide the fate of the brick-and-mortar stores by continuing to patron their physical location over the arguably simpler online location and passing on that behavior. I to believe by 2014 a percentage of e-commerce shopping will be done by those under 15, however, I also believe 10 years after that there will be a shift away from those physical locations all together.
What do you think? Are you beginning to frequent online stores more than physical locations? Have you stopped going to a store because of its website?
Until next time buyers, sellers and friends!
Josh *theLVD Weaver