While you’re still wondering whether to make an investment in online business, several other entrepreneurs are constantly seeking for online business opportunities to invests in. With the
You’ve innumerable reasons to invests in eCommerce industry
Online Market is a Great Influencer
People research their needs before heading towards their final decision. Most importantly, peer suggestions have a positive impact on the buyer’s decision making process. Online marketers and their remarketing strategy help in influencing the maximum people to ultimately make a purchase.
Bringing Convenience to Customer’s Doorsteps
Rain, hail or snow… whether it is 8 pm or 1 am, the online retail industry can successfully serve their customers any time with ease. The consumers can visit several stores simultaneously and instead of having to walk and travel long distances, customers find every store they need are virtually next door to one another. Moreover customers don’t have to seek information like store opening and closing times or contact address. Online presence is luxury in this internet-centric time.
The Increasing Penetration of Internet
Internet has transformed the way companies are conducting e-business. Currently, more than 2.92 billion people worldwide access the internet. And amongst the most popular online activities, online shopping and social networking are the prominent ones. Internet is one such platform on which multi-billion dollar internet companies specializing in online sectors are formed, grown and expanded.
Technology is allowing businesses to automate manual operations and process information much faster. Internet technologies offer a direct communication between the customers and the brand, thereby eliminating the intermediary factors that cause high cost and delay.
The Smartphone Impact
The evolution of technology has provided the means for the majority of the shoppers to find alternative mediums to purchase, without depending on the need for a physical location. Smartphones are one such medium which has made online shopping easy to do. The total number of mobile sales is expected to rise up to $7.8 Million (50 crore) by 2020.
The ability to purchase from anywhere and the ease of order placement has led to an increased amount of impulsive shopping. Online sales are successful because the supposed need encourages consumers to make quick buying decision and the simplicity of transaction allows less time for any second thoughts. Marketers are paying more attention to mobile marketing for maximum conversions.
More Younger Buyers to Come
The younger generation has a greater tendency to spend online. This is primarily due to the increasing growth and use of technology and smart devices. This section of the population is always attracted towards anything new in online shops. As a result the total number of goods sold is also likely to increase in the coming year.
The Popularity of Flexible Shipping
Increasingly flexible shipping options and fulfilment services provide etailers with low-cost/low-risk options for gaining exposures in new areas. With the ability to outsource fulfilment, online merchants can now reach customers beyond their domestic market without having to invest in constructing a global infrastructure. Free shipping offers make online retail transactions more trouble-free.
Social Media- the Sales Driver
With innumerable social platforms being the buzz of the world, social media plays a crucial role in enhancing eCommerce sales. With its ability to swiftly and easily spread messages, brands that are regular on posting relevant content on social media grows their base of fans and followers over time. Retailers who choose to actively participate on social media also benefit from listening to the diverse opinions expressed by the consumers on such platforms.
Establishment of More Small and Medium Enterprises
SMEs typically contribute 80-90% of all employment. They are significant in wealth creation, boost domestic economic activities and contribute towards increasing export earnings. Establishing online SMEs can enhance competitiveness and increase more business opportunities. Ecommerce helps support profitable business relationships and involve more effective external interactions with customers. Not only this, it also improves the emergence of new products and services.
Minimal Expenses and Online Utilities
The biggest benefit in investing in an online venture is the low overheads in running a business compared to the physical stores. As customers can never physically visit an online store, there is never any need for pricey overheads such as liability insurance.
Better Target of Niche Market
Customers being allowed to instantly compare prices are both a blessing as well as a curse to the retailers. If they have invested in an online store and relevant
As the technology advances with the time, the overall benefits of investing in eCommerce businesses are almost endless. Online retailing has become a necessity for companies who wishes to stay ahead of the competition, especially in the current economic scenario.
The Increasing Growth of the eCommerce Industry
The increasing online shopping trend lured many traditional retailers to try their luck in this sector. The huge market opportunity has provided the eCommerce players to invest more in the field and expand their business reach all over the world. The emerging market is also helping the average investors gain exposure to the growth of online consumerism throughout the developing world.
Not only this, eCommerce could help save costs and result in greater efficiency for exporters, when compared to the traditional trade transactional channels. The present and the coming years are yet to see some more big names investing in eCommerce, which appears to be the new addition to the ongoing trends in this segment. For instance, Wal-Mart says its online investments will range from $194 million to $291 million during the present fiscal year. Retailers in recent times believe that investing money can improve eCommerce sites, mobile apps and new direct-to-consumer fulfilment centers in the near future.
Images: “Shopping Cart with dollars isolated on gray/Shutterstock.com“
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