Dont be left behind in the ecommerce world

This article is brought to you by Retail Technology Review: Dont be left behind in the ecommerce world.

Online merchants need to stay ahead of the game to take advantage of increasing ecommerce acceptance, says Digital River.

Retail researchers Verdict have announced that online growth opportunities for retailers are set to dramatically increase with online spending predicted to triple by 2020. In real terms, British online retail spending will be boosted from 21 billion in 2009 to 67 billion in 2020, with online sales of electronics and books to overtake in-store purchases of the same items for the first time by 2020.

Digital River, an ecommerce specialist, argues that while the majority of consumers are ready for the future of retail, there are still a number of retailers who are not. Today the world of ecommerce is moving very quickly and those that have not already tested the waters may be left behind, said John Strosahl, senior vice president of Europe. For companies planning to enter the ecommerce environment, there is a whole host of issues that need to be considered for a successful transition. The market is primed for merchants to make their move. Merchants that solidify their online presence before the boom can access their share of new business and hang on to existing customers.

Key issues to consider include the array of regulations which govern the online sale of different items in different countries. For example, consumer electronics (CE) manufacturers selling products online in Europe and North America must administer, collect and remit fees in compliance with copyright, electronic equipment end-of-life recycling (WEEE) and battery recycling regulations. Companies failing to meet these regulations, which vary by country, can be subject to fines and prosecution, as well as prohibited from selling online.

Strosahl continued, Other issues include keeping up-to-date with different channels used to access ecommerce services. Mobile commerce (m-commerce) is still in its infancy but the increasing proliferation of smartphones and consumers willingness to pay for media plans suggest that sometime in the not-so-distant future, mobile shopping is going to be as mainstream as its online counterpart. Additionally, in-game commerce is likely to make a big impact over the next decade as PC-game publishers look for new ways to boost revenue. In fact, some are already embedding commerce portals into titles, enabling consumers to purchase items without leaving the game environment. Merchants will need to consider these issues and more to be successful over the next 10 years.