How and Why ECommerce is taking over?

Tim Berners Lee created the first World Wide Web server and browser in 1990, after that this platform grew enormously marking strong impressions worldwide. Internet has become the medium to buy and sell items and many corporations are taking the interest in online marketing and e-commerce business. Today more than 80% of the online population uses internet to purchase something.

E-commerce sales are growing by more than 19% a year. This percentage shows how this new trend may take over the traditional market. Now online marketing and shopping is the new generation trend.

Why Consumer Prefers Shopping Online?

  –  Saves time.

   –  No Crowd.

   –  More Variety on a single screen.

   –  Spend less on fuel.

   –  Less prices as compared to the traditional market.

    – It is easier to compare price and specifications.

An estimate of $259 billion was recorded sale online in 2014 in US which grew to a mammoth of $279 Billion before the end of 2015. Globally, Europe leads the race to E-commerce with 34% of online population purchasing online, followed by US with 29% and Asia’s 27%.

Payment Preferences by Customers

40% of the consumers prefer to pay using their credit card or bank transfer, 35% use Debit cards and EWallets such as PayPal or cash on delivery.   

You have an Opportunity reach a Wider Market

Having a physical store in a physical area bounds you to cater a specific audience within that area or may be areas closest to your shop. With ecommerce websites you are able to cater a much wider market that makes your shop globally accessible merchandise.

Every Possible Information About the Product

You can provide all information about the product or your services; this helps your customers to understand what actually the product is all about. This increases productivity and sales. Unlike a traditional retail store where you are supposed to repeat spec a million times to customers.

Helps Engaging More Customers

Online, you have a dozen of platforms where you can promote your product or services. In addition, you also have a solid SEO strategy that helps your product reach wider audiences. With social media techniques your reach can spread into masses globally. E-Commerce business also enables you to transform yourself to e-word mouth advertising from traditional word of mouth advertising.

This eventually does not mean that traditional market or retailer doesn’t have a future, but it rather emphasizes how enormously e-commerce market is grown. We are witnessing a successful amalgamation of physical retail with eCommerce platforms. We now should be pretty much aware of the fact that this hybrid approach is taking over.