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Opportunity Knocks for eCommerce and Mobile

Year-over-year consumer dependence on face-to-face interaction for buying life insurance has been declining. In 1996 eighty percent of consumers met with an agent to buy insurance. By 2013 the number of people seeking face time with an agent dropped to 50 percent, according to the Life Insurance and Market Research Association (LIMRA).

We share this data with you because it is an important  indicator of consumer behavior. They are spending more time on the internet purchasing products and services.

In fact, the trend is generational. Of elderly using the internet, 50 percent are buying things online, and nearly three-quarters of Boomers are shopping online too. Of course Millennials are online. Fifty percent of those surveyed by the Pew Research Center reported going online multiple times a day, and 36 percent of them reported being online “almost constantly.” Incidentally, this group represents the largest share of the nation’s workforce.

Surprisingly, not all internet activity is the same. Most of the web traffic recorded in 2014 came from people using smartphones and tablets, and the bulk of eCommerce transactions are completed through a mobile device, according to reports from Gartner, the world's leading information technology researcher.

In the future, people will rely on personal assistants such as Siri, Cortana, and Google to complete their online transactions, and the future is now. Gartner and ITxpo, estimate this behavior to increase dramatically in the next three to five years.

Clearly consumers are relying on the internet, their mobile devices, and will be interacting with personal assistants online to make their purchasing decisions. What does this mean for you? The time is now to make your company website mobile-friendly, embrace online eCommerce tools. And get ready to embrace online personal assistants as sales tools in the future. 

 

 

Apr 06, 2016


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