E-commerce sales skyrocketed worldwide in 2020 amounting to 4.28 trillion US dollars with over two billion people purchasing products online. It is forecasted to grow by 5.4 trillion US dollars in 2022.
As per Britannica records, the history of e-commerce can be traced back to 1948-49 where the Berlin blockade and airlift ordered goods via Telex. With the introduction of the world, wide web in 1991 and the first browser surfaced in 1993 a lot of businesses shifted online.
By the mid-1990’s Amazon and Alibaba set up their strong foothold in the market and today, they are the world’s leading e-commerce giants.
Now, with the easy accessibility of smartphones, laptops, personal computers, and faster broadband connections one can easily initiate transactions or buy anything in minutes.
What is e-commerce?
E-commerce is also known as electronic commerce is an integral part of the economy that helps you buy and sell your products online. The e-commerce category is vast and is growing rapidly. Retail, banking transactions, online payments, ticketing, auction come under e-commerce now.
Why is e-commerce necessary during the pandemic?
Before the pandemic hit, customers were already buying products online. The percentage of customers shopping online was quite less as compared to the brick-and-mortar stores. While e-commerce stores show their product online, a certain number of customers still preferred traditional methods of buying products from brick and mortar stores. The reason being that they could physically check the product, browse through a variety of products, and get it exchanged then and there.
The scenario changed drastically after the pandemic and online shopping gained momentum due to lockdowns worldwide. Customers began buying products online & some sellers immediately shifted to e-commerce to continue doing business in the market. The ones who were quick to adopt the change survived & the others perished with time.
Should I opt for e-commerce development?
Absolutely! Think as if you have recently begun a small business and want your product to make your presence felt online, then e-commerce development is the way. E-commerce development will help you target the exact customers domestically and globally. Here are some of the benefits of setting up an online store:
A robust platform will help your business grow rapidly & with easy access, one can place orders for your product from any corner of the world.
It is easy and affordable to set up an online store with Ikokas rather than setting up a physical store which is a tedious task.
Customers can buy your products at any time they like. This will help in building up trust factor between your product and the customer.
An e-commerce store opens up the door for a global audience. Moreover, it will be an apt choice to take your business online and make it cross domestic boundaries.
Easy business promotion
Affordable digital marketing techniques is the key to promote your business on multiple social and digital media platforms. Followed by SEO which can be organic or paid. This strategy will help your presence feel global and help you in expanding your reach.
Detailed product information
A product once is posted online requires a detailed description of it. When you update its details with photos, videos and descriptions of your product, it clears the customer’s mind. This strategy helps in instilling faith among your customer & it gets added to the cart swiftly.
Future of e-commerce
2020 was the year when the e-commerce businesses skyrocketed and will continue to flourish in the coming years. The emerging markets of Russia, India, South Africa, and many more are soon to uplift the e-commerce industry. By 2022 almost 4 billion new potential buyers will gain access to the web.
E-commerce Development Company in Gurgaon, The future of e-commerce is positive and is bound to grow rapidly. With multiple technologies getting integrated daily, the customers are seeking to have a seamless experience. Hence, if you have plans for setting up an e-commerce store then, let Ikokas do it for you.