As retailers explore new international markets, they are increasingly looking for quantifiable proof points of success through online channels. Internet retailing enables companies in their efforts to build their brand beyond domestic borders with a natural testing ground for products, while also allowing them to initially reduce the risks of opening a physical store in uncharted territory.
It is no secret that the retail world is becoming significantly more and more digital. Internet and mobile retailing are forecast to continue their strong growth over the next five years. In 2013 Internet retailing recorded a 15% value growth, which was the strongest rate across all retail channels, and also generated $6.5 billion in revenue. The increased consumer demand for online goods and services along with the convenience of online shopping have been driven by continued growth in computer literacy, accessibility, internet speeds and security. Consumers are able to enjoy the convenience of online shopping while retailers reduce costs associated with owning a physical store.