Online business is booming. In fact, as our State of E-commerce data reveals, small-to-medium online businesses have experienced a 20% growth in sales from the first half of 2013 as compared to 2012. Even more, we’re expecting a similar growth pattern of 20% for the 2013 holiday season.
In other words, it’s a great time to be selling online. But, you may ask, why is the industry continuing to see such impressive growth patterns? Pay close attention, because in today’s video I’ve got five of the biggest factors positively impacting the online marketplace.
Have any questions? Just leave me a comment in the box below – I’ll get right back to you.
Here’s the transcript if you’d like to read along:
Hi, everybody! My name’s Matt. Welcome to Volusion’s Two Minute Tuesdays. When it comes to growth, ecommerce is growing fast, and you may wonder why. Well, pay close attention, because I’ve got five big trends that are leading to this year’s ecommerce boom.
1. Showrooming is a reality
You may ask: What is showrooming? So let’s say that you go into a retail store, you try out the merchandise, check it out, try it on for size. Then you pull out your smartphone or you go home to your PC and you look up the cheapest price online. That is showrooming. It’s growing in popularity, which is leading to more sales in the ecommerce world.
2. Mobile and tablet traffic are on the rise
People using their smartphones and their tablet devices to come to your ecommerce site is becoming more and more apparent every day. So as more devices, be it in the hands of more people, well, ecommerce sales are going to grow right along with it.
3. Comparison shopping is still as important as ever
Even though consumers are still willing to shell out more money for different products, they still want the best price. And guess what? Ecommerce is the perfect place for them to do just that. So when price conscious consumers come with a convenient comparison shopping engine, that leads to more ecommerce sales.
4. There’s a growing need for specialized and a larger diversity of products being sold online.
f you absolutely have to have that Star Wars Light Saber from that very first movie, well guess what? You probably can’t find that at the mall, but online you absolutely can. So with the growth of niche products, you’re definitely going to have a lot more sales that are very catered to specific markets.
5. Holiday shopping is bigger than ever
Here at Volusion we predict a 20% increase for small to medium online businesses in the 2013 season, and that’s because everyone knows that better prices and more convenience can be found online. So keep Black Friday and Cyber Monday circled on your calendar, because that’s going to be a great boon to your online business and the overall ecommerce industry.
So now that you know why ecommerce is growing at such a rapid pace, it’s time to get into the game. So whether you’re new to online business or you’re just trying to optimize, let us know if you have any questions. We’re always happy to help. Just leave me a comment in the box below. I’ll get right back to you. From me to you, happy selling.