E-commerce business accounts for a small part of the retail industry. However, there is no one who can question the potential of e-commerce in the current market. The global B2C e-commerce sales are increasing rapidly and this growth is not going to slow down any time soon.
When combined with product innovation and technology, e-commerce has managed to transform consumer behaviour. It has been able to provide virtually tailored experiences so that brands can redefine their relationships with the consumers through social media. Over the next few years, the rise of e-commerce business is inevitable. Read on to learn about the factors that are driving the growth of e-commerce industry.
For e-commerce entrepreneurs, Instagram is a very effective platform offering a lot of potential for conversions and marketing. The truth is that if the e-commerce store owners have the right strategy, they can transform their sales into sales machines. The e-commerce business on Instagram will continue to increase in the coming years. All you have to do is implement a clever Internet marketing strategy through which you can scale your online store.
Since it was bought by Facebook in 2012, Instagram has come a long way. At that time, it had only 50 million active users per month. But, according to Statista, Instagram currently has over a billion active users every month. If you consider these numbers, its safe to say that this platform can help increase your revenue and outgrow your business.
There are about 2.5 billion active users on Facebook in 2021. There is no doubt about whether your e-commerce audience will be there or not. Whoever your potential customer is, they are certainly on this platform, regardless of your business size, budget, goals, and industry. Even though Facebook has been through its fair share of rising costs, targeting changes, and bad publicity, the tech giant is still the least expensive online advertising channel. The robust targeting options it offers are incomparable to others. The right Facebook Ad can drive sales and propel your marketing efforts.
Marketplaces like eBay, Amazon, Flipkart, Walmart Marketplace, and Etsy are great sales channels, but they do have certain limitations. When customers will be able to browse, research, shop and purchase on different platforms and different devices, having a marketplace won’t be enough. But, if you have your own website, you will be able to market directly to your visitors and customers. Since you will be selling to consumers directly, you will have their contact information. You can use their email addresses and send them offers and discounts, new product launches, and email marketing promotions. Also, with your website, you will have more opportunities for repeat buyers.
When it comes to conducting a product search, Amazon is the first consumer channel that surpassed Google. Almost 38% of all eCommerce sales in the US are generated on Amazon and the website has over 200 million monthly visitors. Regardless of the size, these are impressive statistics for any business. Most of the brands that sell on Amazon do this because of customer acquisition. After all, you want to serve your customers where they are.
Easy Website Template Options
If you are a blogger, a small business, sole entrepreneur, or a startup that is cost-conscious, or in a hurry, template websites can be a great option. Between designing the website, coding it, and pulling together enough content, building an e-commerce website can take months. But with a template, the whole process is streamlined. There is no need for an extensive design process or coding. The only thing you have to do is add the content and you will be able to publish your website. Also, using a template option like Zoho Commerce or Shopify will cost you a lot less than building a custom website.
Easy Shipping Options
Online shoppers care a lot about delivery options and shipping costs. In fact, it is a pet peeve for so many customers and the major reason for cart abandonment. Our shipping options can be the reason why your e-commerce business is a success or a failure. Customers often abandon their cart when their order value doesn’t qualify for free shipping. Many consumers even add items to the cart hoping that this will make them qualify for free shopping. Shoppers usually pay for shipping only when their orders’ total cost is a good bargain, even with the shipping charges.
So, these were some of the factors that have been responsible for the rise of e-commerce business all over the world. All these have the potential to improve your sales as well. However, it is important to note that just because something worked for one store doesn’t mean that it will work for you. So, don’t be afraid to experiment with different strategies and you will soon find the one that works best for you.