The future of E-commerce
Since the past years, we saw an important growth in the number of e-commerce and the sales made by those. Indeed, the sales made by the global e-commerce retail sales is expected to hit 4.9 trillion $ by 2021. If this number is exact, this will be a growth of about 265% from 2014 when the global sales were 1.3 billion $. As we can see, e-commerce is becoming the new trend and many big businesses are turning to the internet to sell their products. There are many reasons that can explain why online stores will continue to grow in the next years and even far beyond that.
Giving access to products from all over the world
The e-commerce industry takes down all the barriers. Indeed, now it's possible to buy products from other countries and they will arrive directly at our places. As we can see, this gives the opportunity to the costumer to choose between hundreds of different products and stores.
By offering a worldwide competition, e-commerce will make product price lower. But, not only the product prices will decrease the competition in the shipping sector will also reduce the prices of shipping. Also, online shopping is less consuming that having to go to the store look for a product, buy it and get back home that is also why it becomes more and more popular .
It's a lot easier for store owners to scale their store if they have an online store than if they have a physical store. Indeed, owning an online store has almost no expenses, this means that they can generate more profit by being way more competitive since they have no other expenses beside the expenses of the products that they bought for reselling. This means that it's a lot easier for those stores to scale from one niche to a lot of others.
In now days, it's possible to create and own a brand directly from our home. It's possible to have access to multiple suppliers and products all over the world. Not only we can create a brand but it can become a really huge brand without even having a single real store. Indeed, all sales can come directly from the online store and even with no live store the online brand can become a leader in their field.
As it's possible to see, the online business model is the future and all the business that will not adapt to it will simply go out of business. All this is due to the fact that the internet is taking a huge place in our lives especially in our shopping habits.