In the midst of the U.S. economic crisis, cautious spending and downsizing have left the retail industry in dire straits. The Commerce department recently reported that retail sales in the U.S. only rose marginally for the year 2010.

Even as retail numbers show minimal growth, online shopping and total online sales continue to show steady growth in the face of adverse economic conditions. Forty-six percent of the 117 online retailers that participated in a recent Forrester survey claimed they intended to spend as planned on their Web businesses. A quarter of respondents expected to spend more than they had originally planned. The holiday online shopping season reached $32.6 billion in the U.S., marking a 12% increase versus the prior year and an all-time record for the season.

Given cautious consumer spending and tight credit, why is online retailing continuing to surge while overall retail numbers drop? Retailers need look no further than the tremendous benefits and savings of selling via a multi-channel Internet retailing platform. As in-store retailers that haven't embraced online shopping go out of business, orphaned shoppers are turning to the retailers that have.

Cross-Channel Strategies Increase Sales Conversion

The Internet has a distinct advantage over in-store retail: the presence of countless online sales channels. Internet retailing technology solutions offer new sales channels seamlessly and cost-effectively.

Very few in-store retailers with e-commerce platforms already utilize multiple channels and consolidate them through cross-channel retailing. Cross-channel retailing presents customers with the ultimate convenience in shopping, facilitating uniform and consistent purchasing options across all sales channels.

A cross-channel strategy gives customers the ability to order online and pick up in-store,or it could be as simple as honoring gift cards through all sales channels. By implementing a cross-channel strategy, retailers benefit in several ways: recapturing lost sales opportunities; improving customer satisfaction through convenient services and fulfillment of customer requests; taking advantage of cross-sell and up-sell opportunities.

On-Demand, Self-Servicing Storefront
Online retailers are able to leverage on-demand purchasing capabilities to increase sales conversion. A fully integrated Internet retailing solution can provide real-time information to enhance online shopping. Online retailers are catering to all of their customers, no matter what their shopping habits might reflect.

Better Efficiency and Immediate Cost Savings 
From a business perspective, retailers can save significant costs by eliminating traditional retail and distribution methods. Retailers previously spent hundreds of thousands of dollars on printing paper catalogs and inefficient marketing materials. Today, retailers cut expenses through email marketing, easily updatable online catalogs, and multiple distribution channels.

A seamless Internet retailing and distribution solution should provide best-in-class direct online sales, as well as, real-time inventory, back order procurement, real-time reporting and other features that include sales on Yahoo, Amazon, eBay, and other online retail sites.

Reports and Analysis 
A fully integrated Internet retailing and distribution technology solution simplifies and aggregates sales data, as well as data for customer profiling and order-processing -- any data that is necessary to provide a greater understanding of the retailer's business.

Multi-channel systems can also capture data on lost sales due to inventory shortages. This valuable information enables merchandisers to sharpen their merchandise plans, assuring that the proper merchandise and quantities are available for sale at the right time and place.

Advancements in Web analytics technology have made it simpler for online retailers to improve marketing efforts and conversion rates while bolstering customer retention.

Testing Products Before Stocking Them
As any retailer knows, launching a new product can return extremely unpredictable results. By testing product acceptance before booking large orders, online retailers are able to gauge product order quantities much more precisely.

Especially in a fragile economic environment, understanding your audience -- getting a handle on what will sell and what won't sell before you order inventory -- can help immeasurably. A best-in-class Internet retailing solution can facilitate that process; gaining insight to make an informed decision can cut costs that amass from product surpluses.

Contact Innov Corp. today to increase your top-line sales, increase the quality of your customer service, save on costs and help you to respond quickly to changing market conditions. Call today at (714) 259-8009, email us at info@InnovNow.com or visit us at www.InnovationSolutions.com.