/// E-Commerce Accelerating Due to Personalization, Pinterest and iPad
A sputtering economy isn’t slowing the growth of e-commerce. In fact, new data from comScore shows $44 billion in business now moving through U.S. e-commerce channels, up 17 percent from a year ago. More, the last three quarters show accelerating year-over-year growth. Of course, e-commerce is a beneficiary of economic belt tightening, but there are much bigger factors at play. Economic pressures are combining with technology-driven disruptions to create a perfect storm of online opportunity. These disruptions are nothing new; what is new is the pace at which they are happening. Big, established retail players are having trouble adapting to this accelerating pace of change, while nimble startups feed and thrive on it. I see three megatrends driving e-commerce change that I call the “Three P’s:” Personalization, Pinterest and iPad (well, iPad almost starts with a “P”). Together they ensure that U.S. e-commerce will continue to experience double-digit growth and pass the $100 billion mark in less than five years. I recently attended the AllThingsD D10 conference, and the message from leaders like New York Mayor Michael Bloomberg, Tim Cook, Reid Hoffman, and Larry Ellison confirmed enthusiasm on the future of ecommerce. A lot of the private discussions I had at D10 also focused on the magnitude of this re-invention. Most agree that these three drivers are fundamental, and that the pace of change has never been this aggressive.
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E-Commerce Accelerating Due to Personalization, Pinterest and iPad