E-commerce is an electronic medium where people do business. It includes selling and buying of products or transmission of data or payments. There is no concept of the physical marketplace in e-commerce. Marketing and selling of developments take place online or electronically. The Internet plays a key role in E-commerce sales.
E-COMMERCE AS A FUTURE OF SHOPPING?
Following are the main reason that why e-commerce is important;
- Through e-commerce, you can broaden your brand.
- It is more convenient.
- Through e-commerce, you can raise your reach.
- It gives you new marketing opportunities.
- Business through e-commerce is scalable.
The future of e-commerce is bright as e-commerce sale is increasing day by day. Customers are giving priority to online orders instead of going to the retail shops. Social media further boosts e-commerce globally.
Following are the main domains that show why e-commerce is the future of shopping.
THE RISE IN E-COMMERCE SALES GLOBALLY
According to recent studies, global e-commerce retail sales are on the rise in 2021. By the end of 2021, international e-commerce sales will account for 17.5% of total retail sales. Global e-commerce is a threat to physical stores. New trends show that online sales future is much bright. The owner of physical stores must adopt new strategies. They should start online services for their customer to secure the future.
As physical sales are about to be replaced by digital sales, it gives space for online channels. About 70% of the customers are using multiple channels during their shopping journey.
You should know the following points about your customer;
- What your customer buys.
- Which marketing channels do they engage with?
- Their motivations and their main drivers to purchase.
It means deciding what, where, when, why, and how people purchase products you sell on different channels.
RISE OF SOCIAL MEDIA SHOPPING
The social media selling capabilities are very improved. It now allows customers to easily and quickly purchase products. Facebook, Instagram, YouTube, and Twitter are among the social media channels that introduced the buy button. For instance, Instagram introduced its “shoppable post” feature. It allows sellers to enable product tags in their posts and product stickers in stories. This trend in e-commerce facilitates the shopper with one-click shopping to shop productively and easily.
REVOLUTION IN MOBILE SHOPPING
Mobile has changed the business world dramatically. With mobile, you can purchase everything on a social media platform like amazon, Alibaba.com, and Daraz. People like to buy products at their fingertips instead of going outside. Mobile business apps are introduced to sell your products like amazon apps, Daraz apps, etc. The customer can now research the products on their mobile screen. It enables the customer to purchase wherever and whenever they want.
In short, e-commerce is an ever-growing world. With the advancement in technology and the revolution of social media, e-commerce is growing very quickly. All these advancements in technology and the improvement of social media make the future of e-commerce very vibrant. It would be best to change your strategy from physical selling to digital selling to secure your future.