If you’ve been following the e-commerce sector, you’ll have noticed something: it’s doing rather well. And it’s not just Amazon eating up the market; there are myriad companies all achieving success. The entire sector is growing.
The boom in e-commerce isn’t just something that’s happening in the Western world. Global online retail sales are on the up, with many Asian companies like Alibaba and JD.com leading the charge. People all over the world are beginning to see the benefits that e-commerce brings: lower prices, fast delivery and time-saving.
As the infographic below makes clear, e-commerce is growing at an impressive clip. When you consider that the high street as a whole is on the decline, the fact that retail continues to grow is a testament to the impact on online shopping. It’s big business and a massive opportunity for anybody looking to get into the sector.
Why e-commerce is taking off in the way that it is is still something that experts argue about. But most commentators see it as coming down to three things. The first of these is price. Online retailers just don’t have the same overheads as regular brick-and-mortar stores. Second, shipping costs are going down, and speed of delivery is rising. Many retailers offer same-day delivery. Finally, discount offers propel customers to click “buy” there and then. Unlike brick-and-mortar counterparts, online retailers don’t depend on footfall.
Take a look at the following infographic. It shows just how rapidly the e-commerce sector is growing and it’s value in real terms. Could you make money in this market?
Infographic created by Trade Vitality