Ecommerce has undeniably conquered the 21st century. Ecommerce has dominated the marketplace for well over the past ten years and still continues to pave way for changes that have overhauled and transformed the way people conduct business. The term ecommerce was coined to pertain to all types of business, merchant transactions, and any interaction between businesses and consumers through the convenience of the Internet.
Ecommerce’s scope extends to various industries which include consumer-based retail, services, trading, and more. Today, ecommerce is also responsible for resuscitating millions of businesses all over the world. It is helping them thrive during harsh economic conditions by providing a borderless and timeless venue for conducting business.
Ecommerce has undeniably given the world of consumerism a different facet.
Sales are no longer limited to personal transactions. Actual store fronts have been replaced by online shops and websites where consumers and merchants interact. In comparison to how physical games and sports have been overruled by online games, entrepreneurs can now market their products and services through online channels which almost makes physical shops obsolete.
The impact of having so many people drawn to spending most of their time online is highly reflected in the current statistics of e-spending since they are obviously correlated. The higher the number of people delving into the Internet world, the higher the number of sales businesses make through ecommerce. People choosing to conduct their business and make purchases online is something that has always been preferable for various reasons.
Over the years, the percentage of those who visit ecommerce websites has skyrocketed to an unbelievable position. This makes it easy for many people to believe that most people spend their free time online searching for necessities as well as just about anything that there is to find. According to the study and report generated by Monetate, a digital marketing technology company, from the second quarter of 2011 to the second quarter of 2012, the website traffic coming from smartphones has catapulted to a whopping 103%.
The majority of this traffic comes from iPhone users as well as other smart phone users. This report is based on 100 million shopping experiences that occurred online. The amount of data alone can speak for how much has technology and the Internet has governed and overturned the lives for many people.
The result of this report can only mean one thing and that is ecommerce is here to stay. It is no longer a fad or a seasonable hobby for most people. It is also not exclusively for those who are considered wealthy. Common transactions that occur nowadays can even house utilities such as water connections, electricity, food, and clothing that can be purchased and paid for online. Ecommerce is already a way of life and even people who are not really tech savvy are getting used to it. More businesses, including the most traditional ones, are slowly but surely transitioning to ecommerce.
If there is one thing about ecommerce that people easily wary about is security. It takes a lot of getting used to before you will actually let go and supply a computer-generated form with all of your personal information. There are also reports of illegal transaction and cybercrimes that get reported everyday on the Internet, television, and other types of news media. Relationships formed and maintained over the Internet need a certain level of trust to take off.
To say that trust in online business relationships is important is actually an understatement. No one wants to willingly divulge credit card information online without a guarantee that credit card details will not be stolen and that product and services purchased will be delivered. This is exactly the reason why companies and businesses who decide to extend their platform need to make sure that they have a fool-proof reputation to draw in more sales and businesses.
Making sure everything goes well for the consumer from the onset up until the delivery of services is a must. After all, with the boom of ecommerce in the past decade, opinions and personal experiences of consumers can now make or break a business. Ecommerce will continue to dominate the landscape of our global economy for many years to come.