In today’s digital age, e-shop ( E-Commerce) has increasingly become more popular in recent years due to the convenience, speed and accessibility it offer to both businesses and consumers. It has transformed the way businesses operate and interact with customers and it continues to evolve and grow as technology advances.
To help you grasp the subject more effectively, let’s review some numerical information:
In 2017 sales from e-shops around the world had reached 2.3 trillion dollars. Specifically, 672 billion came from China, 340 billion from the US and 99 billion from the UK. In 2022, it exceeded 5.7 trillion and in 2023 in the midst of global crisis and during Covid, we saw a further increase looming, with forecasts saying that they approached 6.3 trillion.
At first glance, you may think that those numbers are meaningless and indifferent from a point of view of small businesses. But the truth is that these numbers show a global trend of shopping behavior, which is now entrenched in the way consumers buy.
Now the numerical data presented above may have varying levels of relevance depending on the context of your business, whether it’s a long-standing family enterprise or a newly established venture.
E-shop as a rising trend
Consumers are now being interested in acquiring goods that they want without caring where the location of the shop is. That’s good news for any business as you don’t have to worry about the location and the cost of maintaining your shop. On the same note, your shop will become global as it may reach a vast audience.
Benefits of an e-shop
Businesses are now increasingly turning to E-Commerce as a way to expand their reach. And with good reason. As there are several benefits.
Some benefits include:
E-Commerce allows you to reach customers beyond your local area
Customers can shop from everywhere at any time without being physically at the store
Reduced overhead costs
An e-shop doesn’t require a physical storefront, which can significantly reduce costs such as rent, utilities and maintenance.
Increased sales opportunity
With an e-shop you can sell your products 24/7, providing your customers with a variety to choose to shop from.
Improved customer data collection
You can collect data on customer behavior, such as what products they prefer more or how long they stay on a page etc., which can help you understand your audience better and tailor your offering to their needs.
Increased marketing opportunities
Your e-shop can be easily promoted through online marketing channels, such as social media (Facebook, Instagram, Pinterest or TikTok) and email marketing which can help you reach new customers and drive more sales.
Your online shop can be easily updated. You can easily modify your inventory, pricing and promotions and control your online presence.
In conclusion, simply setting up an E – Commerce for your business does not guarantee immediate financial gain but it can open a world of opportunities. Whether you are a small business or a large enterprise, an e-shop can be a valuable asset that can help you grow and succeed in today’s competitive marketplace. While it may seem daunting at first, with time you will see that your hard work will pay off.