RIP Brick & Mortar. Ecommerce Comes Out on Top.

@Jezzicasmith

Retail companies are turning away from traditional store locations and plunging everything they’ve got  into online retail. Companies such as Urban Outfitters are seeing a dramatic increase in online revenues causing them to be like, ‘Wow, screw this Mortgage on that storefront.’ Urban Outfitters is a perfect example of this as they are cutting down all their brick + mortar stores. With 1/4 of their $2.5 billion in revenue coming from online sales, the company has decided they will never buy a cash register again!

With growing internet usage, e-commerce has become one of the most popular shopping channels worldwide. In 2013, sales reached $47.5 Billion just in Q3 (comScore), up 13% from last year. That explains why new online retail companies are popping up all over the place. Not to mention, mobile sales online are growing at an exponential rate as well – I mean, who doesn’t…

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