The Growth Of E-Commerce Since Inception
What Can Be Predicted For eCommerce Ahead In 2021?
Ecommerce nowadays plays a pivotal role in our day-to-day lives. It is redefining commercial activities all around the globe. Through the Internet, eCommerce stores are accessible from any part of the world. As a result, eCommerce stores are more globally accessible to the customers and provide vast commercial activities with a passive experience.
Over the years, eCommerce has evolved in significant ways. We will now go ahead and learn about the growth of eCommerce and understand why running an eCommerce business may be the best thing to do now.
What is eCommerce?
To begin with, eCommerce is short for Electronic Commerce. It relates to the activity of purchasing and selling products or services over the internet. People can buy and sell virtually everything, like books, electronics, apparel, software, furniture, with the help of the internet.
E-commerce offers individuals a platform for buying or selling whatever they want, whenever they want.
Before the inception of eCommerce, the most dominant form of commerce was brick-and-mortar. While this Brick-and-Mortar trade still exists, eCommerce is rapidly replacing it nowadays. Most of the brick-and-mortar shops are turning into eCommerce stores in an evolutionary sense. Reason is simple!
It has been found out that 31% of first-time shoppers prefer to buy on online marketplaces. Witnessing such exciting trends and patterns, it is clear that more and more online marketplaces are willing to venture into the once not-so-crowded e-commerce space. Wondering How To Run A Successful Ecommerce Business Despite Of Industry Giants Like Amazon, Flipkart, Myntra?
Well, one such aspect that aided them the most is their presence on each and every customers’ smartphone.
Mobile Apps and eCommerce
Instant access to a plethora of options, looking for mobile phones on a mobile phone, sounds enigmatic, right? Well, that’s what’s happening now, the paradigm shift just needed a small push. And the push came in the form of eCommerce mobile apps.
The eCommerce industry has gained a lot from mobile apps. Better outreach, higher conversion rate, and minimum cart abandonment are the most notable benefits of an eCommerce mobile app.
To enjoy such benefits, you must ensure your mobile app is liked by your audience. It is a 2-stage process:
- Creating an eCommerce mobile app
- Marketing and promoting your mobile app
Know more about ‘How To Launch A Successful eCommerce Mobile App’ here.
The increase in the worldwide use of mobile devices has contributed to the growth of eCommerce. With mobile devices, individuals are more flexible and passive in buying and selling over the Internet. What else remains?
eCommerce and Big Data
Good enterprises know that data is beneficial for their growth. Intelligent businesses make use of that data to define a progressive trajectory in the future. Businesses that pay close attention to data focus on evolving their business models with the changing trends and this very trait separates the sustainable companies from the rest.
Read about 10 Most Important Ecommerce Metrics To Track.
Statistical observations collected by eCommerce companies have significantly contributed to eCommerce’s growth. In the Business to Consumer model, eCommerce companies track and make remarkable observations of consumer preferences. For seamless future purposes, these observations are then integrated into retail models, ensuring that eCommerce sales soar globally.
Remembering the Best in Business
The eCommerce industry has become broad and diverse. Some giants are, however, ruling the world of eCommerce. Amazon, Alibaba, eBay, and Walmart are the most popular e-commerce companies globally. These companies have established their monopoly and immense credibility in the eCommerce sector.
Know about 25 Years of eBay: An eCommerce Success here.
Building a prosperous online business is not an easy thing to do. However, knowing how others made it is the best way to get started. You can learn plenty of things from their achievements, and in some cases, even more from their mistakes. These types of stories can be priceless for any determined eCommerce business.
Featured Blog on Inspiring Ecommerce Success Stories — What You Should Do?
They all used an eCommerce platform to make their businesses overpowering. In general, using an eCommerce platform to run an eCommerce shop helps you to:
- Sell on a Global Scale
- Market your Business
- Manage your Business
The eCommerce industry is rapidly evolving as the Internet becomes more accessible in various parts of the globe. We may witness even greater success stories in eCommerce industry ahead in 2021 and beyond. No reason why traditional retail companies are migrating to the space of eCommerce and thereby extending their reach to customers and staying in the competition as well.
Whether you’re a company or a consumer, eCommerce has many advantages for you. Learn more about powering online stores with Code Brew Labs because they are the best when it comes to kick-starting eCommerce platform for any type of store. Stay tuned for more related content.