I am out in Palm Springs, CA this week for eTail (this link is actually for their next event). There is a really strong mix here of retailers selling online and companies built to strengthen their efforts (including ChannelAdvisor - one of our companies).
Interesting talk this morning by Carrie Johnson from Forrester. Some interesting highlights:
- As prices of technology are falling, number of users online are increasing, but avg household income is falling.
- #1 reason that prevents some people from shopping online is they don't want to enter in personal information. #2 is that they actually want to touch the product.
- Online sales should reach 200 billion this year (40 billion of that is travel related).
- But as the growth of the number above slows, companies selling online need to realize that it will be about stealing away market share from competitors.
- And something I was surprised to hear: cart abandonment is pretty high, over 50%.
There are probably 75+ vendors here and it is interesting seeing all the new technology and how they are impacting online purchases. But for some of the companies here (like in the e-mail marketing space) it seems they may have a hard time differentiating themselves from the guys at the booth next to them.
One company that seems to be gaining a lot of traction over the last 9 to 12 months is I4 Commerce and their Bill Me Later payment system. I know David Limp and the guys at Azure Capital Partners are investors in the company. They should be pretty excited.
More good eTail notes from Brian Smith at ComparisonEngines.com.