Online Shopping Predicted to Continue to Grow.
There is no denying that 2020 has not been the year that we have expected. One thing that it has done is accelerate some of the trends that were already in the water, such as remote working and online shopping. Online shopping has been growing for many years now, but it is clear to see that the COVID-19 pandemic has made Internet shopping even more significant. With that in mind, in this post, we are going to look at online shopping in further detail, looking at the key statistics for the market in the coming years.
E-commerce is expected to almost double by 2023
The growth that we have seen in the e-commerce market is quite astounding. Last year, Shopify revealed that they were $3.5 million e-commerce sales around the world. This represents a significant 18 per cent increase when compared with the year before. However, it seems that the online shopping market is only just heating up, as Statista predicts that e-commerce sales will grow to 6.54 trillion dollars in 2022. Therefore, if you are yet to capitalize on the online shopping boom, there is still plenty of time for you to do so.
Private-label selling and direct-to-consumer selling have accelerated
There are other trends of significant importance when it comes to the online shopping world. One of the most significant is the increase in direct-to-consumer and private-label selling. This means that businesses are opting to bypass the middleman and sell directly to the consumer instead. There are a number of reasons why this is an attractive proposition for companies. The main benefit is that you can own the relationship with the customer. You do not have to count on a retail partner to promote and protect your brand. Instead, you are going to be in control, and by establishing a direct relationship with the end consumer, you are going to be able to keep giving support even once you have completed the sale. There are plenty of other benefits associated with going down this route too. This includes the fact that you can offer personalized products, as well as collecting and using customer data.
Mobile commerce is expected to be more prevalent
This is a statistic that may not come as too much of a shock to you when you consider how dominant mobile Internet use is. However, there have been some hurdles when it comes to shopping via smartphone device. A lot of people can get frustrated with the experience, finding it difficult to complete the shopping process because of the small screen. Nevertheless, as time goes on, we are seeing web design developers come up with more seamless mobile experiences, and this is something that is only going to mean more consumers will make purchases via their mobile phone. If we take a look at the sales for 2019, 67.2 per cent of all retail e-commerce sales around the world were made via mobile. However, we will see this figure increase, as it is expected to reach 72.9 per cent by 2020.
Productivity in online sales is being driven by automation
Last but not least, you may be wondering how brands and businesses are keeping up with the high demand that comes with online shopping at the moment. One of the ways that this is being achieved is through automation. Companies are increasingly putting their operations on autopilot. This is especially advantageous to those brands and businesses that are looking to expand overseas, which demands operating a number of stores, as well as fulfillment networks and a bigger inventory. Handling all of this by yourself, in-house, and manually, would simply be a massive undertaking.
This is why it makes sense to make use of the powerful and intelligent automation tools that are available. Of course, you cannot automate each and every element of your service, yet you will find that you can automate a large chunk of this, which can make a massive difference when it comes to your productivity levels. This will give you the capacity to fulfil a much greater number of orders as well, which is always great news.
So there you have it, as online shopping is predicted to continue to grow and flourish as time goes on, if you are looking for new business opportunities, embracing the Internet and everything that it has to offer is simply a must. The good news is that it is easier to create an online store presence than ever before.