17 Outstanding Online Retail Industry Statistics and Trends

Online-Retail-Industry-Statistics

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E-Commerce Breaks Down Barriers

Though entrepreneurs have been somewhat leery about investing back into the internet after the dot-com bubble burst around the turn of the millennium, times are changing. Technology has made it easier than ever for people to research products, purchase immediately upon making a decision, and even use non-traditional forms of payment to purchase. Almost $250 million in venture funds was given out to online retail startups, more than any amount in the last decade. The future of business could lie in what modern e-commerce could bring… are you prepared for to be in a field that is expected to grow by 15% each year for the next five years?

More People Are Using Mobile Technology

Mobile payments are expected to gross over $90 billion within the next 5 years. Online sales are expected to top over $370 billion per year in the same timeframe. There are 2.4 billion people on the planet that regularly use the internet in some way. 60% of those people, or over 1.2 billion people, will research a company, product, or person online before doing business with them in any way. 600 million of those people make at least one out of every four purchases they make online, which means 150 million people are likely going to buy something online today. Are you missing out?

Today’s Websites Need To Be Mobile Friendly

As more people move towards tablets, smartphones, and other mobile technologies to use for e-commerce purposes, websites must be able to adapt to this trend to take advantage of it. If a website doesn’t have a mobile app that allows for point-of sale transactions that are easy and flawless, there could be a legitimate loss of business to a competitor. This effect can be exacerbated by having a website that is built to accommodate mobile devices. To take advantage of the nearly $400 billion per year e-commerce is expected to bring, these changes must be made.

A Global Business… From Your Home Office

Think of a good website like the neighborhood lemonade stand you might have run as a kid. During hot days, people would flock to your stand, pay you a premium price, all to get the value of having their thirst satisfied. Good lemonade might bring you a lot of repeat business. If you sold cookies too, chances are you would make even more money. Now take that concept to a global scale with your website. People from around the planet can stop by your site, see what you have to offer, and then determine for themselves if there is value in it. Anyone can start a business with global potential from virtually any location today! That’s the beauty of modern e-commerce entrepreneurship.

Are You Ready To Get On Board?

With explosive growth likely in e-commerce, the time is now to break down the barriers to business that might be standing in your way. All it takes is a good idea and a few dollars of capital to get started. Open source software, crowdfunding, and online payment platforms are easier than ever to use to help your e-commerce idea get off the ground. Use them today to get your own global business off the ground… all from the luxury of your home office.