Ecommerce business is growing faster than we think! And it creates a great place for buyers and seller to get more information about the each other. There are many reasons why ecommerce is great for everyone, but today we have three good ones for you
Increasing Growth in Ecommerce
In China the online retail sales have grown by 33.3%. In US this rate is expected to hit $5 Trillion this year. Asia-Pacific online retail sales have increased 35.7% in 2015 alone. This shows that Asia-Pacific area has the largest online retail market in the world. It is also expected to hit $28.300 Trillion by 2018. This is a rapidly growing business.
Ecommerce brings many advantages to every seller and customer all around the world. It is easier to sell things without having to pay for the stores rent, utilities and other expenses. You only have to have a website for this job. Also it is easier for the customers to find you as well. They can just look at your website without having to travel to the store.
As the ecommerce business is growing, many solution tools for ecommerce companies are being created as well. There are many tools for creating webshops, marketing, keeping track of your competitors, traffic analysis, ads and many more. These details make ecommerce even more attractive and easier.
Not Restricted to Local Customers
Internet is a global place for everyone in the world to present their businesses. Unlike a brick-and-mortar store you can have customers from all around the world at any time.
As people get more price sensitive since they can find everything for cheaper prices somehow somewhere online, having an ecommerce business becomes crucial to catch those customers as well. And these customers are not just around your neighborhood. They are everywhere! You will need to use the internet to get them.
While you’re out with your family enjoying your weekend or while you are sleeping in your bed you can earn money from customers all over the world. As you don’t need to sit in front of your computer for your online store to remain open you can actually do other things such as marketing while your customers are doing business with you online.
If you have placed your marketing efforts in the right strategies (social media marketing, email marketing etc.) you will increase your visitor rate and depending on your web store and products or services you offer they will become your customers. Continuing with a good customer service or after purchase followups you could get a loyal customer as well. And these are just few emails away.
So with less efforts compared to a physical store you can earn money from global customers at any time!
Increase in Use of Mobile Device
Relaxing at home after a busy day is great. But when you have to buy groceries or find someone to paint your walls, you get more tired and you can’t just sit and relax. However, we can now find whatever we need while sitting on the couch watching television thanks to our smart phones and tablets. We can buy our clothes, furniture, toilet paper, food etc. with just one touch. As the number of active mobile device users are increasing the growth in mobile commerce is trending the same way. It is getting easier with the retail apps for customers to shop or learn about products.
Let alone visiting physical stores, we are mostly too tired to open our laptops after work. So to get tired customers who want to do shopping having an online shop for both PCs and mobile devices happen to be a great means of business.
Summing things up,
There are too many opportunities for companies in ecommerce business. It is still growing. The number of potential customers is very large. And the technological advancements in mobile and computers are creating more ways of sales for business. With this many desirable aspects ecommerce becomes one of the best businesses available.
Ecommerce is continueing to grow big. It is a promising business. And many people and companies are starting to create their own ecommerce businesses. This means the number of your competitors are increasing as well.
It becomes crucial to track competitors’ prices to understand where you are in the market and what you can do to improve your business. See how Prisync might help you as it already does for ecommerce companies from more than 30 countries.
NOTE: You can now share your voice in our blog. Prisync Blog now accepts guest blog posts and you can see the guidelines here. If you are already writing on ecommerce, or thinking of it, just reach us out!