7 Reasons To Invest In Ecommerce Now
You are heading in the right direction if you consider investing in e-commerce now. E-commerce is a growing industry, especially as more people buy online. It’s a growing industry. You can read posts about eCommerce at luminablog.com to see how fast it is growing.
Since more people buy online, many companies choose to invest in top Chicago eCommerce developing agencies. Ecommerce will give you a platform that will help you meet various consumers across the globe.
Here are seven reasons now is the best time to invest in eCommerce.
1. More people are shopping online
Online shopping is becoming a routine for many people in this digital-centered world. According to statistics, by 2023, e-commerce will account for 22% of the world’s retail sales. Compare this to 14.1% of the world’s e-commerce retail sales of 2019. More than 75% of people shop online at least once a month now in 2021, and the value keeps increasing. You can consider reading online business loans online reviews if your business lacks the funds to create a significant presence online.
2. Gain more credibility
Firstly, eCommerce helps your business to be more credible with its beautifully designed eCommerce website. The products or services you offer and specific details on them can be viewed directly by people. Your business needs an online presence; otherwise, customers may become doubt your authenticity and turn to a more established online brand. An e-commerce website can also increase your brand image, especially if it is modern and state-of-the-art.
3. B2B eCommerce is growing
In general, people are thinking of B2C companies when they consider investment in e-commerce. The global e-commerce market for B2B was $12.2 billion (6 times more than that of the B2C market) in 2019 and was thus increasingly expanding. B2B companies shouldn’t hesitate to make e-commerce investments.
4. Stay open 24 hours a day
You can sell your goods or services to customers 24 hours a day with an online store. Regular shopping times are available so you can stay open all the time, which can boost your sales. There is no time or geographical constraints when you have an online shop front. People can spend as much time as they need to purchase, and when it’s most convenient, they can return to your website.
5. E-commerce is blooming
According to a study, retail eCommerce will increase by $4.5 trillion in 2021, compared to 1.3 trillion in 2014. The current coronavirus pandemic is also changing the e-commerce environment for retailers, as it temporarily shuts down many physical fronts. This resulted in a further $107 billion for online merchants in 2020. Another outstanding statistical share is that 59% of U.S. buyers buy online clothing between Q2 2018 and Q2 2019. Retail firms with an online presence can take advantage of several points of sale instead of just one physical shop.
6. Millennials prefer to shop online
Sixty-seven percent of millennia and 56 percent of Generation X prefer shopping online now, according to BigCommerce. Furthermore, 45% of millennia have recognized that they like to compare products and prices in their online shop. Eight out of 10 consumers say they never buy anything without first reading a review. Online reviews are also growing in importance for old shoppers. With so many age differences choosing to shop online, e-commerce is an easy choice.
7. More tools for building an eCommerce
Now you can build your e-commerce experiences easily with more tools. Companies have a wide range of choices to develop their e-commerce experience. Companies have the options WooCommerce, Shopify, Shopify Plus, BigCommerce, Magento, Squarespace, and Wix to choose from. You can decide on a range of powerful tools to build a successful e-commerce experience based on your particular business requirements