Another report by Statista shows, B2C e-commerce accounted for 0.92% of the global GDP in 2013. It is forecasted to rise to 1.61% globally by 2018.
Huge success for online shopping has created a grave situation for physical stores. It is believed that in the coming times shopping will completely turn digital. Here’s why…
Physical Shops Are Closing
It’s possible that you have witnessed the closing down of shops in and around your area. It is also entirely possible for you to see the slow transition from physical stores to e-commerce stores.
Today, modern businesses start as online venture and then opt for physical store. Take for example, my friend who is a budding costume designer, features her clothes through her online outlet and doesn’t own any physical store. However, she is prospering with a substantial profit and looking forward to have a physical store in the near future.
Moreover, physical stores are becoming as a medium to woo customers online. That’s where Omni channel marketing comes into play and has changed the marketing scenario entirely.
Online shoppers are rising every hour
The other side says that online marketing is prospering with big online retail brands like eBay, Amazon, Birch box and similar online marketplace.
• The share of total online retail has changed drastically over the years. It has risen from 5% in 2009 to 10% in 2014, as written in economist.com.
• The total number of online shoppers in 2014 was 196.6 million.
• According to a blog post published in Business Insider, 18 to 34 is the age demographic who are spending more on online shopping in a year. This batch spends about $ 2,000 annually on E-Commerce.
Why is online shopping growing so acutely?
One of the chief reasons why online shopping has prospered is because it offers you full comfort. It lets you buy from your desk itself. No physical store gives that amount of comfort to let you get what you want with just a few clicks.
Online shopping provides retailers a weapon to track their prospective visitors and obtain consumer data. Through this data they get the following information:
• The definite location where the majority of the customers are located.
• How these customers reached their page.
• What kind of websites they visit.
• How quickly they go through the shopping process.
With this kind of information, any online store can change the business strategies to draw in more visitors and cater to their needs better. However, for a physical store it may turn quite tough to acquire such kind of exclusive data.
It is hard to predict where consumerism will reach in next 10 years from now. Although the signs are quite positive to assure that the online shopping is certainly the future.
The Future of Online Shopping, A Shocking Forecast
According to a report by “statista.com” B2C e-commerce sales worldwide will reach a whooping 2345 billion US dollars by 2018. It was just 1471 billion US dollars last year.
Online shopping has spread around the world. Regardless of numerous reasons, online shopping is what people do frequently. Due to this the GDP rate of the world is increasing.
Another report by Statista shows, B2C e-commerce accounted for 0.92% of the global GDP in 2013. It is forecasted to rise to 1.61% globally by 2018.
Huge success for online shopping has created a grave situation for physical stores. It is believed that in the coming times shopping will completely turn digital. Here’s why…
Physical Shops Are Closing
It’s possible that you have witnessed the closing down of shops in and around your area. It is also entirely possible for you to see the slow transition from physical stores to e-commerce stores.
Today, modern businesses start as online venture and then opt for physical store. Take for example, my friend who is a budding costume designer, features her clothes through her online outlet and doesn’t own any physical store. However, she is prospering with a substantial profit and looking forward to have a physical store in the near future.
Moreover, physical stores are becoming as a medium to woo customers online. That’s where Omni channel marketing comes into play and has changed the marketing scenario entirely.
Online shoppers are rising every hour
The other side says that online marketing is prospering with big online retail brands like eBay, Amazon, Birch box and similar online marketplace.
• The share of total online retail has changed drastically over the years. It has risen from 5% in 2009 to 10% in 2014, as written in economist.com.
• The total number of online shoppers in 2014 was 196.6 million.
• According to a blog post published in Business Insider, 18 to 34 is the age demographic who are spending more on online shopping in a year. This batch spends about $ 2,000 annually on E-Commerce.
Why is online shopping growing so acutely?
One of the chief reasons why online shopping has prospered is because it offers you full comfort. It lets you buy from your desk itself. No physical store gives that amount of comfort to let you get what you want with just a few clicks.
Online shopping provides retailers a weapon to track their prospective visitors and obtain consumer data. Through this data they get the following information:
• The definite location where the majority of the customers are located.
• How these customers reached their page.
• What kind of websites they visit.
• How quickly they go through the shopping process.
With this kind of information, any online store can change the business strategies to draw in more visitors and cater to their needs better. However, for a physical store it may turn quite tough to acquire such kind of exclusive data.
It is hard to predict where consumerism will reach in next 10 years from now. Although the signs are quite positive to assure that the online shopping is certainly the future.
Another report by Statista shows, B2C e-commerce accounted for 0.92% of the global GDP in 2013. It is forecasted to rise to 1.61% globally by 2018.
Huge success for online shopping has created a grave situation for physical stores. It is believed that in the coming times shopping will completely turn digital. Here’s why…
Physical Shops Are Closing
It’s possible that you have witnessed the closing down of shops in and around your area. It is also entirely possible for you to see the slow transition from physical stores to e-commerce stores.
Today, modern businesses start as online venture and then opt for physical store. Take for example, my friend who is a budding costume designer, features her clothes through her online outlet and doesn’t own any physical store. However, she is prospering with a substantial profit and looking forward to have a physical store in the near future.
Moreover, physical stores are becoming as a medium to woo customers online. That’s where Omni channel marketing comes into play and has changed the marketing scenario entirely.
Online shoppers are rising every hour
The other side says that online marketing is prospering with big online retail brands like eBay, Amazon, Birch box and similar online marketplace.
• The share of total online retail has changed drastically over the years. It has risen from 5% in 2009 to 10% in 2014, as written in economist.com.
• The total number of online shoppers in 2014 was 196.6 million.
• According to a blog post published in Business Insider, 18 to 34 is the age demographic who are spending more on online shopping in a year. This batch spends about $ 2,000 annually on E-Commerce.
Why is online shopping growing so acutely?
One of the chief reasons why online shopping has prospered is because it offers you full comfort. It lets you buy from your desk itself. No physical store gives that amount of comfort to let you get what you want with just a few clicks.
Online shopping provides retailers a weapon to track their prospective visitors and obtain consumer data. Through this data they get the following information:
• The definite location where the majority of the customers are located.
• How these customers reached their page.
• What kind of websites they visit.
• How quickly they go through the shopping process.
With this kind of information, any online store can change the business strategies to draw in more visitors and cater to their needs better. However, for a physical store it may turn quite tough to acquire such kind of exclusive data.
It is hard to predict where consumerism will reach in next 10 years from now. Although the signs are quite positive to assure that the online shopping is certainly the future.
Comments (1)
Online shopping in an activity that is on the rise in India now. More and more people are finding it convenient to buy those items such as books, DVDs, laptops, tablets, e-readers, mobile phones, cameras, electronic gadgets, shoes, clothing, furnishings, utensils and kitchenware, perfumes and toiletries, medicines and health products, car care items, etc., etc which otherwise would have taken a lot of their time actually locate and buy. The online retailers provide the fastest solution to locate the item with all those details one would perhaps like to know such as the costs, specifications, appearance, etc.
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