Five years ago, online shopping was on the cusp of booming, e-commerce for local stores was almost non-existent, websites weren’t as advanced and social media was just up-and-coming.
Now, online shopping is a go-to for consumers, websites and e-commerce are important parts of a business and social media is not only being used to advertise and market, it’s also being used to conduct e-commerce.
Here’s a glimpse of what the industry looked like five years ago.
Where We Were
In 2013, the average annual gross sales per store stood at $1.2 million. The average size of each store was 4,670 square feet, while selling space was at an average of 3,573 square feet. Additionally, 10 employees was the average number each store kept on staff.
Where We Advertised
While the landscape of event and store advertising slightly evolved, there have been some noticeable changes in where stores have chosen to spend marketing dollars. Internet ads have taken share away from magazines and advertising in major newspapers dropped by 76.3% during the last five years. In addition, direct mail has dropped off the list while text message notifications made an appearance for the first time this year.
We Got Social
While Facebook is still the top preferred online marketing method, both Twitter and Pinterest have lost ground to Instagram (see page 28). Now, social media sites act as e-commerce tools, a marketing platform to reach potential customers and a place to share content with current customers.