They are tripling their profits. Why not you?
Today I would like to talk about a particularly interesting subject: e-Commerce or called Electronic Commerce. Have you heard of it? Are you already enjoying it? Otherwise, what are you waiting for?
Let's start with some statistics. >(Ref: https://www.oberlo.ca/blog/what-is-ecommerce)
- By 2020, global e-commerce sales are estimated to reach $4.058 billion, making e-commerce a growing and profitable industry.
- By 2019, the United States expects to have 224 million online shoppers, which will make the United States a large audience base for the distribution of your online store.
- In 2019, there are an estimated 162.8 million mobile buyers in the United States. Therefore, store owners must ensure that their websites and ads are optimized for mobiles to reach their target audience. According to Business Insider, men (22%) are also considered more likely to buy a product via a mobile device than women (18%).
- Women tend to shop online more often than men. For every $10 spent online, women spend $6, while men spend $4.
- The Millennium, aged 18 to 34, tend to spend about $2,000 online each year, making them the generation that does the most shopping online.
With these figures, if you have a business or sell products, you understand that the survival of your business necessarily requires an optimized online presence to reach an unlimited potential customer base.
Now that we have factually determined the volumes of revenue generated and projected for the e-Commerce sector, let's take the time to understand the basics and benefits, because in addition to improving your visibility, an e-Commerce site or online store brings many benefits to your business such as:
- The ease of doing transactions since the buyer no longer has to travel and the company can offer the same and comfortable service.
- Product prices can be reduced by removing intermediaries from the supply chain.
- The company has access to a wealth of valuable information on consumer habits and customer needs.
- Finally, it improves its brand image and allows the company to reach market segments that would otherwise have been difficult to acquire.
There are several types of electronic commerce.
- B2B or business to business, which consists for a company to sell to other companies. A good example is Ali baba who offers suppliers the opportunity to sell directly.
- B2C or business to consumerli it consists of companies that sell to consumers. That's exactly what you'll do when you decide to open your own online store. Amazon, Walmart and Apple are excellent examples of B2C companies.
- C2C or "Consumer to Consumer" allows consumers to sell to other consumers. Good examples are: eBay, Craigslist and Kijijiji. On these sites, sellers are often not companies but consumers who sell certain products they own, whether new or second-hand.
In any case, the e-commerce industry will certainly continue to grow. In the United States, for example, while retailers generate $3.9 billion in sales per year, e-commerce generates $294 billion.
We are therefore confident that e-commerce will continue to take market share from many retailers if they do not seek to create their online store.
If you are a merchant, contact us for a free consultation.