eCommerce as you probably know is basically doing business online. It is becoming more and more popular every passing year. Its popularity can be authenticated by the fact that in 2019, it grossed a whopping amount of $3.5 trillion in sales. Moreover, it is just going to grow and keep growing as people become more and more aware of the opportunities that it brings. As well as the immense potential that it has.
According to another stat, by the year 2040, around 95% of all purchases will be done through eCommerce. That’s shocking! right? at least, it was to me. But it doesn’t mean that there will be no more traditional retail stores. As they, themselves also provide some unique value that eCommerce cannot as of now. If you want to know if eCommerce will actually annihilate traditional retail stores, then we have an article written on just that “Will eCommerce replace physical stores?” so check it out if you are interested. Now, without further ado lets dive into some of the reasons that are the biggest cause of ecommerce’s rising popularity.
Can make anyone an Entrepreneur
e-commerce has the power to literally everyone to become an entrepreneur. Which is a great thing and as it allows people to make money doing what they love. Lets elaborate. for instance, you are a stay at home who just loves to make homemade jewelry. You make a website post a few articles about how you go through with what you do and put whatever you make for sale anyone who actually likes it. And there you go, you are entrepreneurs sitting at your home. This isn’t just the case with jewelry, it is literally the case with everything as you can start doing this part-time, whenever you get the free time unless you are ready to fully commit.
Moreover, eCommerce has helped many people to actually leave their jobs that they hated and were stuck in. To do something that actually does keep them on edge and makes them happy. I have heard countless stories where a person begins to start a website as a part-time hobby to see how it goes. And when he/she sees actual results, they leave their jobs in an instant and fully commit. As the potential in commerce is more than just immense. You can literally make millions promoting other people’s products/services. But, spoiler alert, it isn’t as easy as it sounds. But it’s not like anything worthwhile in life easy to achieve so that’s to be expected.
Not capital intensive
Huge investments are the biggest reason that stops many brilliant ideas from ever becoming true. But, this is where eCommerce comes through as commerce doesn’t in itself any sort of big investment. People can set up a good passive income whilst sitting at home and even compete with some of the biggest names in their fields if they are good enough.
Big businesses in the eCommerce space don’t have as much of a headstart as they do in the real world. And small businesses can also hope of competing with them in the online space. As the online space is not that capital intensive as the real world. Which takes care of the biggest barrier to small businesses to achieve the state they want. The online space being less capital intensive helps in a lot of ways. It helps people to focus more on customer service and actually innovate and make products that matter.
This is by far the biggest reason of the recent popularity of eCommerce. Its just so convenient. You can shop 24/7, 365 days a week any time you want. You can go through what you like at 1 A.M in the morning and add whatever you like in your cart. And book it for a delivery whenever you feel like it. This is one of the many things of eCommerce that makes eCommerce more convenient than the usual shopping experience. Which is another reason for its increasing popularity. Moreover, many times people just don’t feel like going out but are forced to because they have to buy something. But, eCommerce deals with that problem once it for all.
Not only this, but it is way easier to compare different brands, their sites, products online as there is a lot of information and reviews that you can conveniently go through. Not only this, but there are also sites like Rakuten that let you earn money whilst you shop. Rakuten gives up to 40 % cash back at over 2500 stores
Ecommerce also gives businesses to target literally any market of the world they want as long as they have a good delivery system. Ecommerce has completely changed the game as you can book literally anything from any part of the world that you like. Which was nearly a dream a few decades back.
As businesses don’t have to incur many of the costs like traveling costs, maintenance costs and hire fewer employees. stores have started offering special offers at lower prices. Businesses online are also now focusing more on providing more value as they know the amount of impact positive reviews and good worth of mouth can have on the online market place. Ecommerce businesses are also quite environment friendly when compared to our conventional retail stores.
Hopefully, this article was helpful in answering your question in depth. If you have any related questions feel free to use the comment section below. And stay tuned for more interesting articles about the online market place, we publish every day.