The rise of eCommerce comes as no surprise to most, as the online world continues to grow in importance, reach and influence. However, knowing the specific reasons why eCommerce is still growing allows you to tap into this growing market in a more meaningful way.
From the rise of social media to brand ambassadors that have far more reach than in the past, there are a number of reasons for this exponential growth. Keep reading to find out five reasons why eCommerce continues to grow.
1) Personalised, tailored experiences
You’ve likely heard of someone, or experienced it yourself, saying that they had just mentioned something before Facebook showed them an ad for that very thing. Our preferences and shopping habits are tracked, allowing us to use this data to offer customers personalised, tailored shopping experiences.
This finer targeting allows eCommerce businesses to use their resources on a target market that has been proven to be more open to their offerings. This creates less wastage and a higher return on investment. In addition to this, individuals appreciate being able to shop in their own language and currency, so having these options increases your reach excellently.
2) ‘Everyone’ has a phone
These days, almost everyone with buying power has access to a mobile phone. There is therefore an excellent opportunity, with eCommerce, to target those who can afford to buy your products or services. A phone gives one universal access to everything on the internet, leading to further eCommerce industry growth.
3) More retail options
eCommerce global growth is so expansive because people are no longer confined to a single store or even 100 physical stores in a mall. They can now have access to any store they want, with many marketplaces offering access to numerous brands and options.
eCommerce is also often preferred because buyers can compare across stores, and look for better deals. Since having an online store instead of a physical store saves money and resources, businesses are more able to offer these discounts.
4) Extremely convenient
Connected to the plethora of retail options is the convenience associated with them. Some marketplaces or even individual stores offer everything from scents to tables and electronics. The world truly is your oyster online.
In addition to this, online stores allow customers to find the right size and colour that they’re looking for, without having to search through rows of clothing, only to be disappointed. It can then also be shipped straight to their doorstep, without them ever having to enter a physical store. This kind of shopping can be done during a work break from your desk, or anywhere else for that matter. And with people valuing time and convenience more, it is increasingly appreciated that consumers no longer have to mission to the mall.
5) Social media integration
With the advent of channels like Facebook Marketplace, Instagram Shop, TikTok product tagging and much more, social media is now integrated into eCommerce. Since social media is so powerful and people tend to spend a lot of their time on these channels, expanding your store to include these platforms is extremely valuable.
