Today e-commerce reshapes the future of the trade and shopping experience for both the customer and the seller. While the penetration rate is more than 60% in developing countries (except China which has a penetration rate of over 80%), in most developed countries, it reaches 90%. That means most of the world's population that has internet access has been shopping online. Yet, do you think e-commerce has reached its peak already?
Obviously, there is still a gap for e-commerce to grow when the whole world population is regarded. Likewise, offline retail still has a more significant share than e-retail in the overall calculation. However, e-commerce is going to continue to grow, and it is still in its baby steps. We believe cross-border e-commerce will dominate foreign trade.
In this blog, we will list several reasons that will contribute to the growth of e-commerce globally. Offline retail does not possess the options that e-commerce can offer to people. If you are not convinced whether you should be setting your online shop already, then this is for you.
When you go to a store in your local mall, you have to walk in the same area as everyone else and check the same products as everyone else. But the virtual shops offer personalized experiences for their customers. That is, the experience in the store is different for every other person. In today's e-commerce environment, you even have the option to customize the online shops' visuals to an extend. Likewise, every product is designed to serve your exact interest. Personal space in the virtual shops lets the customers have much more personalized experiences.
E-commerce stores offer much more options for the customers when compared with offline retail stores. Imagine you want to have all the items in your city available to you, you would have to visit each store, drive from mall to mall. You may literally need months to do that. However, now as the online shops are set on different platforms, you could just go to a website and have all the options available to you in a matter of seconds.
For many, social media means much more than just checking your aunt's summer vacation photos. Today people use social media to follow the latest news, trends, catch up with their circle…everything could possibly think of. The power of social media empowers e-commerce. With the digital marketing integration technologies, people can buy everything that is advertised or exhibited online. For example, do you like the shirt your favorite band singer is wearing during an online event? Just click on the link and buy it online even before the event is over.
The e-commerce platforms are designed to give the customers the most plausible experience in the store. Most online shops have effortless and straightforward designs so that people don't get overwhelmed with the complicity and focus on the shopping. So you won't have to deal with calling your kid's name when he/she gets lost while you are shopping.
Another aspect that makes online shops so much desirable is that you can access e-commerce platforms without a sweat. As long as you have internet, you could just open an app and order whenever you are. This might not make so much sense for someone who lives in a metropolis, but a quick order may save hours of drive in the countryside.
Many factors lead the customers to shop from online stores instead of going to the local stores. Virtual shops offer numerous advantages to the customers and let them have a customized experience contrary to offline retails. However, regarding e-commerce, the most essential feature is that it will continue to grow. 20 years ago, hardly anyone could imagine the e-commerce experiences' evolution. It's much harder to foresee future technologies and habits in even 5 years. Therefore, it's crucial to take your place in the e-commerce environment before it's too late.
Of course, delving into the world of e-commerce is not easy. You need to understand digital technologies, customer preferences, and new supply chain orders. Precisely for that, the GlocLink Consultancy is here for you.
Contact GlocLink Consultancy today to start your online shop and learn more about online shopping platforms' opportunities.