Growth of ecommerce for Retail ver 1.0
The onset of the internet savvy generation has prompted the rapid growth of e-commerce. B2C or Business to customer ecommerce has reached a whole new level, both qualitatively and quantitatively with more and more people joining the online shopping community. In fact, the total B2C retail sale is expected to cross 1.25 trillion USD by the year 2013. No wonder the number of online retailers has gone up exponentially in the last few years.
This consistent growth in retail ecommerce, despite the dips in world economy, is uniform across all nations. Although United states still remain the biggest share holder in online retail sales followed by UK and Japan, countries like China and India are fast catching up with growth rates of more than 130 percent. The growth cannot be linked to the sale of any one product or category. It is spread across all categories like consumer electronics, apparels and accessories, mobile accessories, digital content and subscriptions, jewelry, tickets and other luxury goods.
Although the growth in online retail is steep, it doesn’t come as a big surprise. With billions of people plugged into the internet and looking for easier ways to live, a boom in ecommerce was bound to happen. It’s not just that online shopping removes the physical activities involved in retail shopping, it gives the customers a wide range of products, brands and retailers to choose from. On top of that, the opening of discount stores, COD and EMI options makes shopping more “wallet friendly”. The availability of excellent B2C platforms has added to the inflow of online shoppers. In addition to ensuring easy navigation and creating secure payment modes, these platforms enhance a user’s online shopping experience substantially.
The growth pattern indicates one thing. It is high time companies or brands set up online shops to stay in the competition. Of course offline retail sales still dominate, but with the number projections shown by retail ecommerce, combining the two forms of retail can boost your total sales. Also, if you are looking to set up a multi brand, multi category online shop, there couldn’t be a better time to do so.
Need assistance in building an online store? Looking for the right platform to fuel your B2C site? Contact Suyati Technologies. With our experience in developing and maintaining B2C platforms, and setting up appealing and user-friendly websites, we can help you set up the appropriate online window to your products.