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Making Friends With Your Customers
Business and friendship are generally considered incompatible. It’s hard to take the dispassionate, profits-first mindset that traditionally governs business transactions with a person you think of as a friend. However, in this burgeoning age of social media and social commerce, retailers need to make friends with their customers to maximize engagement, loyalty and profits.
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Report: Global online sales to increase 17.5% in 2013
Santa Monica, Calif. -- Global e-commerce sales are expected to rise 17.5% this year to $963 billion, up from $820.5 billion last year, according to a study by Siemer & Associates.
Currently, online accounts for just 6.5% of all retail sales worldwide but is growing four times faster than traditional retail. E-commerce sales are expected to account for 9.3% of retail sales by 2016.