E-commerce on an upward ride
E-commerce is the quickest budding trend in the world today. By spending numerous billion dollars every year, e-commerce has sustained its double-digit growth (something that no-one predicted). The present trends of ecommerce will decide on its development in the future. Nevertheless – here are some attention-grabbing facts about the growth and most recent trends of e-commerce.
To start with; Michael Aldrich invented online shopping in 1979. In 1990, Tim Berners-Lee created World Wide Web and the first browser. Soon after, additional online developments began to take place when in 1994, Netscape launched its first commercial browser called “Navigator”. Likewise Pizza hut also extended its ordering system online. In 1995, Amazon and eBay launched their online portals – a big advance in e-commerce.
In the current market, it has been estimated that in excess of 80% of the internet users have used online portals to pay for something. Also online shopping has been carried out more than once by around half of the online shoppers.
The majority of the online shopping is done by the group who are between ages 30 to 45 and 55 to 65. In fact 68% of these people are inclined to shop more online than other age groups.
Recent figures show that there has been a 10% growth in e-commerce sales in USA. With the present stats it is predicted that e-commerce in America will reach $ 279 billion by 2015.
The top stores at which users are making their online purchases take in Amazon, Staples, Apple, Dell and others, in the USA.
Many studies have been conducted to determine why people prefer to shop online. After a recent survey it was seen that people shop online more because of more variety, according to 67% of the population. 73% said that it saved time, 59% indicated that it was due to the ease of comparing prices and 58% prefer this mode as it is crowd-free. Other reasons obviously include: less taxes, less prices and no traveling etc.
The most common payment modes used by online shoppers making purchases include credit card payments and bank transfers.
The European Union is the leading region in terms of e-commerce sales with 34% of online purchasing activities in this area. USA with 29% and Asia with 27% follows.
E-Commerce industry is expected to have a value of over $1500 Billion by 2015. Current e-commerce sales have been growing at a 19% increase per year and with these stats indicate that by 2015 it could easily be double its current level.
The trends are changing as online shopping methods are becoming more and more user friendly. For example; the present mobile e-commerce market is about 4.4 billion and it is indicated that by 2015 the mobile ecommerce will grow to 23.8 billion.
So – it’s not to late to take advantage of this still fast growing field.