If you have a business that’s in the traditional model of buying and selling, it’s time to bring your company to the forefront of the 21st century by setting up e-commerce capability.
It’s been proven that e-commerce has been exponentially on the rise since it’s conception in 2006, and for very good reason: as more and more shopping habits change because of societal changes and new generations, so do the companies that sell to them.
Lots of work goes into these numbers. With these thought points in mind, here are a few reasons as to why it’s a good time to invest in e-commerce, and why your business could benefit from an online marketplace bringing in billions annually.
The ease of use
If you have something to sell, there’s always going to be someone out there who is interested in it. Finding your niche can take a little bit of time, but the amount of exposure you garner just from being online means they will always come to you.
The ease of setting up and cultivating an e-commerce website has always astounded people. Think of auction sites like eBay, and their personal portals for each user to build a base for themselves. It’s from these kinds of launching platforms that people can get a headstart. Find yourself a trusted distributor, of which there are many ways to do, such as drop shipping, and you can build yourself a good reputation.
Advertising is also easier online, due to tools such as SEO and affiliate programs. Even though it’s an untraditional medium, and a lot of people are still being reached through the TV screen, it’s very much a stable up and coming technique.
There’s an expected 25 per cent growth
E-commerce is popular, and that shows every day with sales reaching the billions across the world. However, the guess on the number of new sales that are going to crop up is an increased quarter of the original amount worldwide.
Within the next year alone, the e-commerce market is expected to have about anything up to 25 per cent in terms of growth, with a past 5 per cent growth from 2013 in the USA alone. This is mind-blowing to consider and shows the future of the marketplace is online.
That makes it an excellent market to move into, whatever the type of business model you have. With sales often making themselves based on good web layout and the ability to shop day and night, you’re going to make more off of a mobile app than a physical location.
Bigger and better target populations
The attractiveness of the internet gets shinier every day when we consider that anyone can reach you from any location across the globe. Unless your site has blocks on certain regional areas, you’re going to be able to make money off of customers you would never have reached in a business lifetime just being on the ground.
It’s become a lot easier to buy domains and design websites with conversions and pay per click customers in mind; of course, it’s its own niche market. With developers like that of Forix Commerce on the horizon, more mobile conversions to loyal shoppers and online retail sales than ever are coming through company websites, opening up a huge avenue for any business that’s trailing in the dust in terms of their target market.
A lot of the work in the e-commerce world is already done for you, thanks to sites such as Facebook and Twitter. Social media platforms allow you to advertise on a person’s own level and mean your ads are always going to be seen.
Businesses always benefit
Once again, in the US alone, e-commerce is worth about $220 billion, with the rest of the world not far behind. Considering big companies like Google were worth $110 billion in 2009, and now have reached $375 billion, this is a momentous drive up in such a short period of about five to 10 years.
That means that you can be secure in any option you opt for when it comes to setting up your own e-commerce marketplace. The main way: setting up a website to reach these target populations, which you can now seriously account for when you decide to do international shipping, meaning you can get more features for your initial technological investment money. Mailing lists and member’s clubs are always a popular business option to keep people loyal to your brand, as discounts can often be made back double at the cost of a subscription.
It keeps startups on their feet
It’s so much easier for someone to build themselves a big business without any of the real estate and running costs when they’re online. That means more people can create and sell and build rapport with customers and investors without having the extraneous worry of physical security. It’s no wonder that the majority of sellers turn to it, including 80 per cent of the customer population.
Without this physical hindrance, more and more gaps in the market are being filled, and more and more people are being serviced as a result. It’s an incredible complementary move to those who are in retail on the shop floor, due to the number of customer needs that are wiped away that would be otherwise unserviceable based on time and effort. Using stationery shopping online, clients have their own space to make the perfect shop for them.
Of course, not everything is peaches and cream in the e-commerce world, and customer traffic and website load times are always going to be a bit of a hindrance. It can take time to get on your feet online, as you have to carve out your own customer base in the possible millions, and people can’t take a physical look at the products they are buying.
However, this goes hand in hand with easier returns policies and customer feedback, and you’re always going to be able to find a little interest. It’s the best next logical step for any business that provides a service.