Shopping online has become the norm for many people around the world. For some, it is the best way of shopping as they can take all the time they want to think about what they want to buy. For others, they enjoy it mainly because they can buy any product from the comfort of their homes.
In this article, we will go over different benefits of using ecommerce and some statistics related to it. Without further ado, here is what you need to know.
Some Benefits of Ecommerce
The implementation of ecommerce in business models has increased sales of many companies. Here are some advantages of using it.
- It makes global transactions between buyers and sellers possible. It also improves the market reach by reducing or eliminating geographical location restrictions between a seller and a buyer.
- Ecommerce saves energy and time, which means that, with minimal effort, a lot more transactions can be carried out at the same time.
- It gives new businesses with limited capital a chance to step into the business world. Even without a physical store, a seller can utilize ecommerce for sales on ecommerce platforms.
- Ecommerce allows for quick analytics and the gathering of customer data. That is possible because customers purchase items from different catalogs presented to them. Hence, you can easily compile data and use such information to improve your marketing strategy and increase revenue.
What the Statistics Say
Recent ecommerce statistics show that the adoption rate of ecommerce is increasing, as more people are moving with this trend. The more businesses take advantage of it and expand their reach via ecommerce, the more sales they will close. Let us take a look at some ecommerce statistics that prove that ecommerce can help businesses gain more substantial ground.
In 2007, ecommerce accounted for 3.4% of total sales. Barely 12 years after this, it accounted for 16% of total retail sales in the US alone. The world is rapidly becoming one big global village thanks to all technological advancements. A lot of people are taking advantage of this to conduct businesses daily or to shop online.
For example, the number of consumers who shop via smartphones is reportedly higher than the number of people who shop via laptops or desktop computers. This smartphone shopping preference increased from 14% in 2016 to 29% in 2018.
Ecommerce does not benefit businesses alone. Individuals who are looking to sell different items or products online are also leveraging ecommerce to do so without leaving their houses.
To gain a better understanding of how ecommerce is affecting the market and how it can change the business landscape, take a look at the infographic below.
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