Thoughts on shop.org

This industry, still skyrocketing with a growth rate of over 20%, has grown up around us…has grown with us. The Shop.org Annual Summit brings us together to relate learnings, to discuss trends, and, most of all, to share the intimate knowledge that has brought us so far in such a short time and will lead us into a very bright future.

This year's Shop.org Annual Summit, taking place at the Mandalay Bay in Las Vegas, NV, is the premier gathering of online and multichannel retailers and Shop.org's most important event. Featuring keynotes from the most exciting speakers in the industry, sessions for intermediate and advanced retailers, and unparalleled networking, this must-attend event will put you in touch with the people in the industry that you need to know.

If you weren’t here this year, and are looking for the biggest event in the multi-chanel retail space, this is the show not to miss.

iPerceptions had (has – the show is still in full swing) a booth at the event, and when I wasn’t being a ‘vendor’ (hate the term – but it is what it is), I had the pleasure of taking in some impressive speakers at this years show. To name a few; Kelly Mooney - Resource Interactive (iCitizen…iConcur), Jeremy Dalnes, Vice President of E-Business at Panasonic North America - Lauren Freedman, President, e-Tailing Group - Susan Gelinger, Divisional Internet Manager, JCPenney - Dylan Lewis, Senior Manager, Web Analytics, Intuit TurboTax (Intuit Inc.) Sean McDonald, Director, Global Online Community, Dell Inc. - Eric Peterson, CEO and Principal Consultant, Web Analytics Demystified and Elaine Wu, Manager, Internet Marketing Victoria's Secret. All have impressive insights into this space and a whole lot of knowledge to share.

Joseph Pratt, Analyst for IC Media Direct has some interesting thoughts on the space (to which I am in complete agreeement). Retailers know better than anyone how much money consumers are spending over the Internet. They are realizing profits in their respective fields. They also recognize a maturation process, and that the net number of new e-commerce customers will tail off to non-growth levels. Some estimates predict this flat lining by 2010.

However, there is still important growth with maturity – and that growth is in the average amount of money spent per online customer. Instead of trying to grab new customers, retailers are bending over backwards to retain existing customers. This is the value play. Existing customers are being cultivated. The retailer, be it Nordstrom’s or Wal-Mart, wants the customer feeling at home and free of anxiety within their website.

Instead of trying to be all things to all people online, online retailing efforts of late are geared towards complementing their “brick and mortar” locations. By complement, I mean soaking up as much nitty-gritty merchandising as possible – and letting store locations double as entertainment or advertising hubs. In order to do this, though, the website must be a comfortable zone for shoppers. There is an overarching value being placed on the online customer today because online loyalty equals retail gold. Profit margins of today remain important as ever, but a future where today’s loyalty means increased spending tomorrow, is truly precious.

Online retailing has evolved. The Internet has gone from a cheap place of doing business to a venue where a premium is placed on customers.