High gas prices are pushing more people to shop online rather than driving to the mall. With projections of four to five bucks a gallon by Christmas, now is the time to get your business online. Although, consumer spending is down, Internet sales growth is likely to exceed that of department stores.
17% Growth in 2008
Despite the sluggish economy that has reduced consumer spending, online sales is expected to grow by 17% in 2008 according to an annual survey released last month by Forrester Research, .
Reference Article: Online Sales to Grow 17 Percent in '08
The Hottest Marketing Trend for 2008
The Internet may just be the hottest marketing trend for 2008. Interactive marketing spending will more than triple over the next five years, reaching $61 billion by 2012 according to Forrester Research.
New marketing channels such as e-mail, search marketing, online video, ads and social media like blogging are all helping marketers reach their target audience while providing measureable ROI tools. Mobile marketing is also growing with podcasting and RSS feeds.
These new tools give marketers more control of who and how many times their ads are being shown. Marketers are able to continually improve their ads to fit the current holiday or season in an effort to improve their ROI. The Internet is giving marketers more control over traditional marketing resources like TV and Radio, and is allowing marketers to create direct conversations with their target customers. Only the Internet provides the ability to instantly response to an ad by clicking on the ad to continue reading about the product. Online ads provides marketer the ability to instantly engage in a conversation with interested customer about their needs.
Reference Article: The Hottest Marketing Trends for 2008
More Americans Turning to Web for News
In addition to the new tools marketers have to reach targeted customers, more and more Americans are turning to the web for news. This adds eyeballs to the pool of customers that marketers are targeting, and therefore makes is easier for them to fine turn their specific target customers. The information age is here to stay, as the Internet is the fasted and cheapest way to share information.
Reference Article: More Americans turning to Web for news
The Internet is likely to continue to grow despite the weakness in the economy because the Internet doesn’t run on gas – and almost everything else does.