Do you often contemplate the importance of eCommerce? You might be, hence I have to come up with this blog article to make you realize how significant eCommerce had been both for buyers and sellers.
It’s obvious that the way businesses operate today has been changed. More and more consumers are shifting towards the online platform. The reason for this is the advent of technology. We are living in the era of digitalization, where everything happens online.
As a result, eCommerce has become the most prominent pillar of every country’s revenue. Not only does it offer the gateway to double up your business revenue, but it also provides a wide variety of perks for all the parties involved in it.
Statistically speaking, in 2020, nearly two billion individuals have purchased products online, with global e-commerce sales exceeding 4.2 trillion dollars.
Irrespective of this number, we have witnessed the global pandemic; which certainly shifted the online paradigm which resulted in the increase in average products per order by 60%. The segment which suffered the most in lockdown was brick and mortar stores. The pandemic-induced shutdown and mobility restrictions represented a turning moment for many eCommerce businesses.
The eCommerce industry gained a new fan base in the pandemic. According to Statista, customers visiting traditional stores in the United States have decreased by 62 percent, while internet consumers have climbed by 52 percent.
So if you are confused about the importance of e-commerce in modern business. Then, here I am going to tell you all about it.
But before moving forward, let’s shed light on the question of the hour.
What is eCommerce?
The activity of purchasing and selling products or services through the internet is known as eCommerce. Electronic payments, mobile commerce, online marketing, online payment processing, supply chain, inventory management, electronic data, and automatic data collecting systems are examples of eCommerce technology.
To perform online sales and marketing operations, most organizations utilize an eCommerce shop or an eCommerce platform. Such as Shopify which offers a free 14-day trial for every new user.
Why is e-commerce important?
Gone are those days when people preferred to pay visits to offline stores. This is because paying a visit to offline stores consumes time and puts the unnecessary budget on the consumer’s pocket, such as fuel, parking tickets, and much more. In addition, today people also don’t have that much time on their hands. Considering all this, most homeowners love to shop online, which is why e-commerce businesses are thriving.
Many giant companies like Amazon, Walmart are driving insane amounts of sales per year. E-Commerce has become a significant element of any industry in today’s globe. Almost 50% of the world population prefers to shop online and from the comfort of their homes.
Seeing all this, many physical store owners have also started shifting towards the online platforms and with the availability of eCom business software like Shopify, developing a store became more like a walk in the park.