Many businesses, including many countries, are yet to capitalize on the e-commerce boom. They are yet to even figure on the e-commerce radar. As sales numbers are close to crossing $370 billion by 2017, and as the reach of the Internet increases, so will a rise in patron base happen.

1. HOW RESISTING THE
E-COMMERCE
BOOM CAN PROVE COSTLY
FOR BUSINESSES
THOSE WHO KEEP AWAY MISS OUT
ON POTENTIAL BENEFITS:
THOSE WHO KEEP AWAY MAY BE
OUT OF BUSINESS
28%
2014
of large media companies
believed an online store
was unimportant, and another 18% did not
consider it worthwhile to provide
“curated digital content,”
as late as 2012
survey reveals that only 20%
of small and medium-sized businesses provided
online payment options to their customers.
E-commerce is a win-win proposition
Many big names in the retail
industry underestimated e-commerce
and have regretted it big time
It benefits the
customers by:
Convenience of not having to make a physical trip to the store
Ability to compare unmatched offerings
Make in-depth research and make informed buying decisions
Buy at time of choice
Reducing expensive overheads of store real estate, store interiors, inventory,
processing costs, and more
Creating a level playing field where core competencies related to the product or
offering rather than extrinsic factors such as store location makes a difference
between success and failure
Eliminating physical store pain points such as theft, stock damage, breakages
Allowing merchants greater control of their business by streamlining accounts,
inventory, and other factors.
E-COMMERCE COMPANIES
ARE GROWING
E-COMMERCE COMPANIES
ARE GROWING
Worldwide e-commerce sales
grew by about 20% in 2014,
with transactions touching
$1.3 trillion.
THE TOTAL ONLINE SALES
IN US IN 2007 WAS
$175 BILLION.
IT IS ESTIMATED TO TOUCH
$370 BILLION BY 2017.
E-commerce accounts for just 5.9% of the total retail
market worldwide (2014). Brick and mortar is still the
grand daddy of retail, clocking more than $20 trillion
in sales during 2014. The corresponding figure for
e-commerce is $1.3 trillion. But e-commerce is
slowly nibbling away a larger share of the pie, which
is a portent for things to come. Businesses that
remain complacent and ignore e-commerce do so at
their own peril, and may not be around to regret it.
E-commerce is in its
sunrise phase. The whole
day still remains
$
References:
Source: http://www.adweek.com/socialtimes/wp-content/uploads/sites/2/2015/10/Digital-Exits.jpg
http://www.entrepreneur.com/article/239690
http://dynamicweb.com/company/blog/maximize-the-benefits-from-ecommerce
http://prettygoodplan.com/2011/06/benefits-of-ecommerce-for-your-company/
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https://www.internetretailer.com/2014/05/05/b2b-buyers-are-going-web-more-buy-industrial-products
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https://www.internetretailer.com/2014/05/05/b2b-buyers-are-going-web-more-buy-industrial-products
http://dynamicweb.com/company/blog/maximize-the-benefits-from-ecommerce
http://www.entrepreneur.com/article/239690
http://www.emarketer.com/Article/Worldwide-Ecommerce-Sales-Increase-Nearly-20-2014/1011039
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http://www.emarketer.com/Article/Retail-Sales-Worldwide-Will-Top-22-Trillion-This-Year/1011765
http://www.fierceretail.com/story/88-consumers-prefer-brands-e-commerce-site-third-party-retailer/2015-09-18
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