It is reported that the impact of online sales on traditional brick and mortar store retailers will be quite significant in the coming year with overseas sales growing at a robust 25 percent a year. In what is seen as some fantastic news for the dropshipping industry, a leading retail analyst of a reputable broking firm has reported that domestic online sales have been growing at five to 10 percent annually while those using overseas sites have contributed to a growth rate in excess of 20 percent to even 25 percent on some portals.
Online retail trading in the US accounts for a major volume of annual sales according to trade statistics. Retail trade online also showed a tremendous leap over the previous year. Online retailing industry reports say that retail revenue generated this year will show a ten percent growth from online sales only.
It is believed that lack of options available locally is what drives online customers to overseas sites. Also, with dropshipping services available for delivery all across the globe, it is easy for overseas suppliers to reach merchandize to their customers in another country. However, this growing trend can spell disaster for local retailers in the US if they do not come out with something special according to industry experts.
Major brick and mortar retailers have realized fast enough which direction the wind is blowing and are making plans for creating sites or have plans in the pipeline to go online in a major way. The research which reveals these figures was based on three independent surveys of internet revenue and traffic attracted by top online retail stores.
Retail giants are aware of the growing influence of online retail stores on today’s customers. By tying up with good dropshipping companies, they hope to stem the trend and get local as well as overseas customers to buy from their online stores.