The shortest answer would be that it’s because more business is happening over the internet today.
eCommerce is no longer just another option to explore – it is fast becoming the most preferred channel for shopping across sectors, thanks to the convenience it offers in terms of time and experience. The Internet has the potential to expand your business into wider. And transfer the conversation or information across the internet. It allows people to sell and buys goods or services over the internet. And It can also entail other types of activities, such as online ticketing, online auctions, and internet banking, payment gateways. Due to e-commerce all the buyers and sellers can communicate and exchange goods without any hindrance of location. That is helps to get a higher profit margin and eliminates fixed cost of maintaining brick and mortar shops.
It is projected that eCommerce will soon account for 15% of all specialty retail sales. (eCommerce is 23% of all global retail sales) and digital influences nearly 60% of all retail sales. It keeps up the pace in the age of the internet and drives home what is arguably your customer’s favorite service – the comfort of getting things done while being in the comfort of their home or office.
And the trend is not confined to the B2C or retail. Businesses in the B2B space too are catching up and engaging online, proving eCommerce to be more than just a mere fad of the moment. With 24/7 customer support, AI-supported data collection, and a technology-first approach to trade, eCommerce is clearly the way forward.
If you asked this question because you’re considering taking your business online, the folks at Lapiz Digital Services could prove helpful.