The ecommerce industry is growing at a rapid pace in both developed and developing markets. By the end of this year, global ecommerce sales are expected to hit $1.5 trillion. With most retailers recognizing the advantages of selling products online, the ecommerce industry is expected to grow rapidly in the coming years. Increasing internet penetration in the developing markets is one of the major factors that will drive the growth of global online retail industry.
Here are some of the changes that have occurred in the ecommerce industry in the recent months-
1. The rise of smartphones and tablets
Even though a majority of consumers use their PCs for online shopping, the use of smartphones and tablets is growing at a fast
pace. More and more people across the globe are using smartphones and tablets to gain information about the products and buy them online. Businesses are coming up with mobile versions of their websites and choosing a responsive design to make the shopping experience of the customers more convenient and enjoyable.
2. International Ecommerce Industry
Ecommerce has made it possible for the retailers to enter new markets and serve customers overseas. The customers too are searching cross-border to meet their needs and requirements. Though a few hurdles remain, but international ecommerce promises tremendous potential for growth.
3. Personalized Experiences
From personalized product displays to useful suggestions, online retailers are leaving no stone unturned to offer a more personalized shopping experience to their customers. The customers too are willing to share their personal information and data with the companies. This has made it possible for the brands to meet the requirements of their customers in a better way.
4. Faster Delivery
Gone are the days when you had to wait patiently for your product to arrive. Successful ecommerce companies have invested in supply chain and logistics services to reduce the time taken to deliver the goods. In fact, reduced delivery time is one of the major factors that have contributed to the stupendous growth of ecommerce industry.
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5. Payment Options in Ecommerce Industry
Online retailers are focusing more on providing secure ways of transactions online and enhancing the overall customer experience. Many innovative payment solutions have been introduced to make the shopping experiences of the customers more secure and convenient.
6. Social Media
Social media has been around for quite some time now, its use to promote products and services continues to grow at a rapid pace. An increasing number of companies are using social media sites for branding purposes. Sites like Facebook and Twitter have provided an excellent platform to the retailers to increase product awareness and address customer complaints.
The above factors have had a big impact on ecommerce industry. With many challenges, the ecommerce industry continues to grow rapidly in all parts of the world.
*** This is a guest post contributed by Rachel Wood who is a proud writer and Kindle publishing enthusiast.
**Disclosure of Material Connection:
Some of the links in the post above are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally or believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials.”