When the going gets tough; the tough go shopping (Online).

Switch on the news and read any newspaper and you’ll hear about fears of an economic downturn/slow down, at least I know this to be the case in both the US and the UK. My crafts e-commerce business is my sole source of income so I’m particularly mindful of what’s going on economy-wise. So amidst fears of a global economic slow down I went hunting around for articles online to see if there is still a good prognosis for folks like you and me who sell their craft products online, and this is what I found:

Article dated: Jan 18th, 08: In the UK internet sales were up (54%) on last December’s figures. Sales figures for bricks & mortar shops were virtually unchanged in the same period. The growth in internet sales is said to be at the expense of bricks & mortar shops… “There is no growth anywhere else. Internet has become the dynamo of retail”. To see a larger version of this cheery article click here. I have stuck this newspaper snippet on my office wall!

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And in other UK & USA articles I found:

• Christmas shoppers choose web over High St (UK)
• 15% of retail spend was online in 2007 (UK)
• Online surge rescues UK retail sales (UK)
  
• More good news for web retailers (UK)
• Online retail growth robust (USA)
• Online holiday sales peak in afternoon, sales up 19% (USA)
• Online retail sales continue to surge (USA)

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So what might be the reasons that internet sales figures are bucking the trend? As an e-comm business owner I can make some informed guesses;

• Lower cost of goods - setting up and running an e-comm business is sooo much cheaper than a bricks and mortar shop, and those savings can be passed onto customers. This makes the price of e-comm goods cheaper and obviously more attractive to the consumer.
• Convenience to the consumer - e-comm shops are (normally) open 24/7, there’s no stressful queuing at packed tills, there is often better choice and more units per product available, it’s quick and easy, and you don’t have to carry the stuff home (even the post & packaging usually costs less than the bus/train fare, petrol & parking).
• The lack of stress - (this is why I did 90% of my Christmas shopping online last year). I could choose unique gifts, get fun suggestions for presents on various blogs, browse loads of different products in loads of different e-comm shops without moving my bum and all the comfort of my pajamas, slippers, and a mug of hot choccie; how civilized!
• The internet LOVES the indie store keeper - Look at your local shopping street, doesn’t the predominance of High St stores get right on your nerves? It’s true they definitely do have a place and most of us do shop in them, but it’s such a pity the small indie shopper just can’t compete. This means that local, friendly and specialist indie shops are fast disappearing and this means lack of TRUE choice for the consumer. Not so on the internet, the beautiful thing about the web is that it makes the gaming ground even so (with consistent marketing efforts) indie folks like you and me can open up and run our specialist shops.

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Do you prefer to shop online? How do you feel about the reported economic down turn (in terms or running /setting up your own craft business?)

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