The Importance of E-commerce
If you’re in charge of any online business, you must be aware of the influence e-commerce has on your revenue. When English inventor Michael Aldrich set up the foundation of e-commerce in 1979, he couldn’t have imagined the heights e-com would reach almost four decades after.
Today, e-commerce has become a vital part of our lives. To realize the prevalence and importance of e-com, we’ll provide two facts you might already know. First, Amazon is expected to take almost 50% of the US’s e-commerce by the end of 2018. And second, Jeff Bezos, the founder of Amazon, is the wealthiest person alive. Feel free to connect the dots yourself.
Time is Money!
We all know this phrase used by Benjamin Franklin in his Advice to a Young Tradesman. However, do we realize what this phrase means? When it comes to e-commerce, people expect much more convenient service than is the case with “offline” shopping. Consequently, customers are impatient and expect the best and fastest service. Don’t make these e-commerce mistakes.
As shown in the below infographic designed by Subscriptionly, 72% of shoppers would purchase more items and spend more money if same-day delivery was available. Therefore, if you’re in charge of an e-commerce store, you can either complain or adapt. Your business would appreciate it if you adapted.
Can We Predict the Future of E-commerce?
Michael Aldrich probably knew his invention would be groundbreaking, but he probably didn’t have a clue about how much e-commerce would grow in the next 40 years. However, it’s different nowadays. Most marketing and e-commerce trends are predictable, so we can surmise what the e-commerce scene will look like in the near future.
The Main Benefit of E-commerce
The benefits that e-commerce brings to the table is a broad topic, and we would need a separate article to discuss them. However, the main benefit, and a significant reason why e-commerce keeps growing, is the convenience shoppers get when purchasing items online. Shopping from the comfort of your home—heaven for introverts!
If it’s still hard for you to grasp the pros of online shopping, just picture yourself buying a mattress or ordering food 10–15 years ago. Think of all the tools you have at your disposal now that you didn’t have then, and you’ll realize how beneficial e-commerce is for both your mind and your wallet. The best thing about it—it’s still developing!
The Best Is Yet to Come
Of course, shopping online changed the whole global market upside down. However, the development process didn’t end there. The online shopping industry keeps developing with new methods, the latest tech products, and other useful widgets, inventions, and gimmicks.
Since drones are the latest craze in the e-commerce industry, it’s interesting to know that 79% of US customers claimed they’re likely to request drone delivery if it could be done within an hour. Feel free to check the info graphic out since it could provide insight.
Head of Marketing & Content at Subscriptionly
A Toronto, Canada