The Future of E-Commerce
eCommerce continues to grow, influence purchases, and change how people shop. In the past 3 years, E-Commerce sales have grown by over 100%. Amazon alone has enjoyed growth between 16-48% during the past ten years. More and more companies are taking their focus online. Gap alone closed ~189 stores in 2012 and 2013 due to the higher demand for an online shopping experience. Although the big names are increasingly turning to the internet to boost sales, there is little barrier to entry for small businesses.
SquareSpace, Shopify, and other eCommerce platforms plan to be a catalyst in the ever growing E-Commerce retail by allowing anyone to run their own E-Commerce website. Small shops ranging from photographers to crafters and antiques to gardeners are able to easily open an internet store to help boost their sales.
According to Business Insider, roughly 40$ of all purchases for media, sporting, and hobby goods are purchased online. Nearly every shopping category is on the rise, except food and beverage.
Warby Parker is a shining example of the power of E-Commerce. Warby Parker was founded in 2010 by a few college students who were tired of the high cost of eyeglasses. Vying for venture funds, Warby Parker received their first seed money of $2,500 in February of 2010. In May of 2011, Warby Parker received $2.5 million and have since left a success story in their trail. Before the age of E-Commerce, this success story would be impossible in such a short amount of time.
The likes of Shopify, SquareSpace, and others have made the transition to becoming an E-Commerce business much easier. The companies focus on using edits and management systems that are intuitive, little-to-zero setup cost, and low monthly pricing to help small business get started. Here are a few small business with a big time E-Commerce setup:
Grovemade: handcrafted business accessories from wood and leather.
FiftyThree: unique tools for digital artists.
Greats: high quality shoes sold directly to consumers.
These are just a few of the examples of what the future of E-Commerce holds in store. The power of the internet combined with shopping, allows for a new field of competition that is ever leaning towards online purchases.
Source: Business Insider