But for the absence of wands, broomsticks and stuffed owls, you’d be forgiven for thinking they were advanced copies of the latest Harry Potter installment. In reality, this is June in Boston, the final day of the Internet Retailer Conference, and the coveted publication in the mountain of closely guarded cardboard boxes is the 2009 Edition of the Top 500 Guide – Profiles and Strategies of America’s Largest Retail Web Sites, Ranked by Web Sales.
So, is there anything here for the smaller online merchant? Is there anything we can possibly learn from the billion dollar mega-brands? Well – the answer is a resounding “yes”!
The harsh economic conditions have fundamentally changed the nature of online retailing over the last year. For the first time since records began, online retailing grew at less than 10%, even though it was credited with propping up the rest of the retail sector. But only when you look behind the headline numbers do you understand the real situation. Much of the growth in online retail was driven by Amazon and the top 100 retailers that trail in its wake. According to the US Department of Commerce, online sales from retailers outside the Top 500 have actually fallen for the first time ever.
The retailers that grew the fastest were those that continued to diversify their product lines or develop niches that appeal to a certain online audience. Additionally, these merchants offer consumers the best experience, competitive pricing and superior merchandise. In short, they all have a good story, a good strategy, and they execute it well. For the smaller online retailer with limited resources, this sounds like a tall order – but it’s exactly the reason Frank Learning was conceived.
Scott Wingo is an eBay analysit, author, and president & CEO of Channel Advisor Corp. He is quoted in the closing paragraph or the Top 500 introduction as saying this:
“The recession has put a lot of web retailers just in survival mode. The successful merchants that will make it through the tough times and grow are the ones that execute on every part of their business plan and do whatever must be done to maximize their performance”.
The Frank Learning approach to eCommerce is focussed on developing an integrated, holistic, long-term strategy based on your brand’s products, personality and story. For the niche merchant with a tight budget, it’s a sustainable strategy for survival, growth, and success.
The Top 500 Guide can be purchased at www.internetretailer.com