It goes without saying that e-commerce has changed the way entrepreneurs look at business. Even those who do not consider themselves especially tech savvy can see the benefits of taking their business online and reaching consumers worldwide. In fact, recent reports by Statista and emarketer have revealed that the power of e-commerce will not be losing momentum anytime soon.
According to these reports, ecommerce is expected to break the $3 trillion mark in global sales by 2019. One of the most popular activities worldwide, both Statista and emarketer have projected that there will be a massive $2.8 trillion in online shopping sales this year – nearly $500 billion more than in 2017. The studies went on to project an increase to $3.3 trillion retail e-commerce sales in 2019, $3.9 trillion in 2020, and $4.5 trillion by 2021.
As more and more businesses realize the potential and benefits of e-commerce, the question is: what trends will begin to emerge over the next couple of years? According to the director of design at Shopify, Cynthia Savard Saucier, more and more brands will likely invest in quality content, rather than tech. Why? Business owners are starting to realize the importance and effectiveness of focusing on serving their customers – not just on the business itself.
Another huge trend is developing an e-commerce business that is mobile friendly. Going mobile helps businesses connect with a larger audience and, at the same time, leads many mobile shoppers to spend more than they would in-store. Research shows that cart sizes can range from 35 percent to 50 percent larger when compared to traditional desktop shopping carts.
In a blog post by econsultancy, Paul Rouke says, “With a continued increase in mobile browsing and shopping, consumers will be increasingly more comfortable making larger value purchases on their mobile devices.”
Do you have big plans to expand your business to include e-commerce? Or a goal of going mobile to connect with a broader audience? Finding business funding and payment processing can be a struggle for e-commerce. If you need these services to help you get started, consider the many options alternative providers can offer in business funding options and high-risk credit card processing. Just be sure that the provider you choose fully understands the obstacles of this industry and offers the tools your business needs to grow.
Electronic payments expert, Blair Thomas, co-founded eMerchantBroker. His passions include producing music, and traveling to far off exotic places. eMerchantBroker is America’s No. 1 high risk credit card processing company, serving both traditional and high-risk merchants.