About this Article
Today, we are going to break down a few of the most common reasons that e-commerce businesses are winning as opposed to businesses with no online strategy. For starters, there is a growing trend of companies that go bankrupt for not having a solid e-commerce strategy to compete with the modern trends of online shopping. Major companies like Blockbusters, Barnes-n-Noble, RadioShack, Payless, Toys ‘R’ Us, Circuit City are among the many that didn’t plan for The Future of Online Shopping and are now no longer in business because of it. In this article, I will be explaining the top 3 reasons why online e-commerce shopping is expected to stay and vital to a companies growth and success.
Main Bullet Points
Online businesses can make sales any day, anywhere, at any time!
One of the main reasons people shop online is that with a smartphone connected to the internet, online shopping becomes accessible from anywhere. You can shop for shoes while at the DMV. You can order from your bedroom, and you can order while on your lunch break. With the growth of the smartphone, having access to a wealth of information is now possible and businesses need to learn how to take advantage of this golden opportunity.
Most customers prefer the online shopping experience!
Imagine, for just a moment, what the ideal shopping experience as a consumer would be? Personally, I would imagine there would be no parking lots, no checkout lines, and definitely, no wasted time shopping between different products. Now imagine how this could revolutionize your business. Would you need to hire a checkout
According to an article published on December 15, 2017, by Forbes Magazine — “Current retail trends show that 51% of Americans prefer online shopping, with e-commerce growing 23% year-over-year.”1.
Summary with Solution
Online Stores turns your customers into communities!
With all of this information, how is your business handling their online e-commerce strategy to adapt to these modern shopping trends.
The President of The United States of America — Donald Trump — recently slammed online retailer Amazon for cutting retail jobs across America. Do you see this trend slowing down or continuing throughout the next 20 years?
Sources
- E-Commerce In 2018: Here’s What The Experts Are Predicting by Tom Popomaronis— https://www.forbes.com/sites/tompopomaronis/2017/12/15/e-commerce-in-2018-heres-what-the-experts-are-predicting/
Key Questions, Learning Points & Takeaways
- Does your business rely on customers walking into your store to complete a purchase?
- Does your retail store have days of week with fewer visits?
- How does your business keep your customers from turning to your competitors?
Last Updated: December 11, 2017(Share)
