Retailers have often been reporting that their in-store sales are stagnant or slowing. Yet a number of recent reports suggest that there is one growth area for retail sales – the online sector.
One such company is GameStop. According to a recent Internet Retailer report, sales at the brand grew by 3.8 percent for comparable-stores in 2013, and total sales were only up by 1.7 percent throughout the year. However, the sales at online credit card and debit card payment processing pages told a different story: online sales at GameStop were up by 21 percent throughout 2013, accounting for $724 million in sales.
“Digital sales will see continued growth in 2014 with an ever increasing amount of compelling digital content being developed for the next generation of gaming consoles,” Paul Raines, CEO of the company, said to the news outlet.
Online sales now account for 8 percent of all sales at GameStop, after only accounting for 6.7 percent throughout 2012. These figures illustrate that as in-store sales decrease, online sales can simultaneously increase – helping companies like GameStop avoid major losses.
Another retailer invests in online offerings
Neiman Marcus is another retailer well aware of the way that online sales can help to offset failings in other arenas. Another recent Internet Retailer report noted that the company is currently moving to “better embrace ‘omnichannel’ retailing,” which would entail connecting their offline and online shopping experiences more closely.
“Over the years, the way our customers shop our stores and web sites has changed, and will continue to change with the increasing popularity and convenience of smartphones and tablets,” Karen Katz, CEO and president at Neiman Marcus, told Internet Retailer. “Our customers do not differentiate between channels and now neither will we. These changes allow us to operate as one single Neiman Marcus brand.”Back To Blog