The global e-commerce market size is growing at a fast pace. This article discusses how businesses can cash-in on the global e-commerce growth.
The global economy of this decade has witnessed the far-reaching impact of e-commerce growth with intense and deep-seated effects on enterprises across the world. People today are now able to do their shopping from the comfort of their homes, again with the advantage of comparing various brands, products, and services available throughout the world. The global e-commerce sales have affected the traditional business styles, forcing most of the traditional brick and mortar businesses to enter the global online marketplace.
Global economic forecast
The current market studies reveal that global e-commerce sales are growing by 20 percent every year. Around one-third of the world population is turning towards the internet and around a billion people every year are expected to shop online through e-commerce websites for products such as clothing, electronics, books, fashion accessories and travel packages. The global e-commerce forecast authorities show that the highest Internet users and e-commerce growth in the world are recorded to be from North America, especially from the United States and Canada. The other rapidly growing countries in terms of the global e-commerce market size include Latin America, United Kingdom, France, Germany, Spain, Sweden, Russia, Poland, Turkey, Japan, Saudi Arabia, India, Morocco, and China.
Traditional Vs. Online Businesses
Local retailers and small businesses need not depend on a brick-based infrastructure for sales and profits; developing a website can now help them reach global consumers, their potential target market. The local retailers and small business enterprises no longer need to wait for their potential consumers to visit their stores. If the current forecast of the global e-commerce market size and growth is anything to go by, these businesses already have the opportunity to draw consumers upfront anywhere across the world. They can now achieve their desired growth by taking advantage of the impact of e-commerce in a highly effective manner.
The effects of e-commerce and globalization are not short-termed; the changes are not going to fade away in a few years, instead, they are going to prevail and grow in the coming decades. The infrastructure for e-commerce is going to reach even the smallest neighborhoods and nations in the forthcoming years. In the near future, only those businesses will survive that adapt to changes in the market and understand the need to embrace newer marketing methods to reach their target audience.
Developing an eCommerce site for your business that attracts new customers & keeps existing ones engaged with your brand has become a necessity. It has also become essential to invest in custom eCommerce development for continued business success.
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