Ecommerce is awesome. We love it; you love it. It’s truly changed how consumers shop, research, and even live. But what most people fail to understand is how much of our daily lives revolve around our online purchase activities. Below, we’ll examine a few reasons why ecommerce does run the world – and not just the world of retail.
When it comes to the impact of ecommerce, nothing speaks stronger than the numbers involved:
- New data from comScore shows that desktop computer-based ecommerce spending in the first quarter of 2014 rose by 12 percent in the US, crossing $56 billion.
- During that time, mobile-based ecommerce spending increased by 23 percent, reaching $7.3 billion. Commonly-purchased items included sport and fitness products, consumer packaged goods, and apparel and accessories.
- In the UK, online purchases account for 20 percent of credit and debit card purchases, with consumers spending 107 billion pounds in 2014. Statistics from credit card issuer Barclaycard shows that 80 percent of all airline tickets are purchased online, followed by music and movie tickets. So it’s clear: consumers are spending more online, and retailers are offering more diverse products and services.
The Impact on B2B
When people hear the term ‘ecommerce,’ they think about online consumer shopping. But recent studies have shown that B2B retailers and service providers are taking advantage of e-commerce’s convenience factor and low barrier to entry, too. When it comes to digital platforms, web services, and search and marketing tools like Hubspot & SEOMoz, you are already indulging in some ecommerce yourself, even while running your online business.
B2C Retail Has Evolved
In the past, business-to-consumer ecommerce focused solely on those retailers who sold items online and shipped them to customers’ doorsteps. But that’s changed, as it doesn’t always mean you’re buying tangible products. Think about it: many personal or business transactions today start online. Searching for a new property or rental? Check on Zillow.com. Looking for the top-recommended preschool in your town? Find some reviews online. Are you looking for the closest Whole Foods location? Google it! For the consumer, online shopping brings accessibility and convenience, often coupled with great prices. It’s not just about the ‘buy’ but also about the search – for products, information, and more.
Ecommerce Uncomplicates Life
Buying things online isn’t just fun and makes life much easier, faster, and more organized. Consider this: why do you think the subscription box market is the fastest-growing online retail sector? Match the convenience of ecommerce with the incredible opportunity to get a month’s worth of stuff without lifting a finger, and you’ve got a recipe for success! Still not convinced that ecommerce is slowly taking over your life? Think of all those other bills you pay online:
- Credit card bills
- Home and car loans
- Hotels and flights
- Movie tickets
- Delivery food (a personal fave of mine)
- News and magazine subscriptions- both print and digital
- Health products, such as contact lenses, eyeglasses, and even pet medications