7 reasons why ecommerce is the new commerce
1. The Rise of Online Shopping
Why? More convenience, more choice and less stress.
Although online shopping is nothing new, the last 10 years has reported unforeseen exponential growth.
The availability of bandwidth, acquisition of smartphones and a generation of digitally-native millennials have made online shopping the norm.
2. Profitability of Scaleability
Nobody had heard of Amazon or Ebay in 1996. In China, TaoBao was just a distant dream. Everyone saw retail as localised and self-executed. In fact, Amazon started off as a bookseller and Ebay as a local, internet-based auction site.
However, they both had one thing in common: Scaleability.
The internet has the power to transcend local habits and give people choices beyond their vicinity.
And as a result, Amazon and Ebay are now both multi-billion dollar companies, and have not only seen off competition from the high-street, but spawned an entire new industry and paved the way for thousands of online retailers.
3. Better Distribution = No Shop Required
Most start-out retailers now reject the high-street altogether.
Stores with no permanent physical presence on the high street or out of town shopping parks, such as Asos and Amazon, took nearly 50p in every £1 spent with online retailers in 2015, according to figures from the Office for National Statistics.
This is up by nearly a quarter since 2010, when 41p of every £1 via the internet was spent in “online only” shops.
4. Supermarkets Made Convenient
Tesco, Sainsburys, Asda and Waitrose now deliver shopping for next to nothing. They even give you a designated hourly time-slot. All four of these supermarkets have mobile apps for iOS and Android. Morrisons sell through Amazon’s ‘Prime Now’ service. Groceries. Within the hour.
5. Startups Accessible to All
It’s now easier than ever to sell online.
Companies like Shopify, Magento and Stripe have made it possible for non-technical people to build an e-commerce website and take payments quickly, easily, and automatically.
6. The Sharers Economy
Airbnb. Uber. Schpock. Gumtree.
Now you don’t even need a shop, or an office. You can buy and sell your goods, space and time through an app in seconds. Could this be the future of retail?
The household name so frequently used that the Oxford English Dictionary now allows it as a verb.
Google Merchant and Adwords are like matchmaking services, bringing retailers and customers together, allowing the seller to bid for search terms and easily create product listing ads (PLAs).
Not only can everyone now start selling online, but the rise of ecommerce makes it un undeniable reason for all businesses to start selling online.
You can download the infographic here.
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