The purchasing habits of consumers underwent drastic changes over the last few years due to the e-commerce explosion and online shopping. Understandably, business owners had no other option but to embrace these changes. They also had to do a few things to alter the way they sell to adapt and survive in a digitized world.
Quick Links
Information technology arrived quite some time ago. Then, ease of internet accessibility, smartphones, and e-commerce arrived. All the facets of information technology changed the way of doing business forever. In reality, it changed everything from product development to marketing, selling processes to communication channels, and everything in between. So, what are those changes and what do you need to do to embrace them?
Today, online shopping is a buzz-word in itself. Since the arrival and ensuing popularity of e-commerce, the purchasing habits of consumers underwent drastic changes. There was a time when shopping in a brick-and-mortar store was the predominant way people used to buy products. Now, however, trends online shopping are what business owners want to know and the only thing they care about.
According to researchers[1], in 2017, around 68% of internet users who live in the European Union bought everything they needed online. Similarly, studies[2] conducted in 2018 also say that around 46% of consumers who live in the US prefer to shop online. These stories are already 2-3 years old, and so you can expect those percentage values to be much more today than they were back then.
Apart from the appearance of the smartphones and ease of internet accessibility, e-commerce is the major driving force behind this revolutionary change. No one has to step outdoors to buy anything. Whether someone needs groceries, medicines, consumer goods, electronics, food, apparel, or anything else, the world of the web and e-commerce businesses can provide.
Both new entrepreneurs who established their business in the online world and business owners who have been running their companies for some time realized why they must exploit the internet.
Massive outreach: It’s no use talking about young entrepreneurs who know how to reap the best of everything that the world of the web has to offer. The old business companies that have been selling to their customers conventionally need to understand the importance of shifting their operations to the internet. Mostly web and app development companies follow to go with outreaching.
First of all, it provides massive outreach. You can’t expect to expand your customer base with traditional marketing tactics, especially if you run a small business. However, if you can sell your products online, then gaining more customers would be a cakewalk.
Low expenses: Since you have been in the digital market for a long time, you spent a huge sum of money in setting up your business. Once your existing business ventures started earning profits, you thought about selling other products or expanding your business.
In the world of e-commerce, you won’t need that much money to set up your company. You can also venture into new business areas that you can’t think of if you stick to your brick-and-mortar store and traditional methods of selling.
- Collaboration: While running your brick-and-mortar store, you faced innumerable difficulties in selling your products. You specialize in a particular niche and you didn’t earn enough profits. Now that you consider selling your products online, you can collaborate with larger and more established online companies and gain higher returns. Who knew that online grocery shopping could bestow huge profits upon the sellers? E-commerce made it possible.
- Get rid of middlemen: You can sell your products directly to your clients and customers without dealing with any middlemen. It’s exceptionally beneficial to both sellers and buyers. You will be able to sell your product directly to your customer and at astonishingly low prices without incurring losses.
- Always open: Another reason to sell online is that your shop will remain open 24-7. It means that your customers will continue to buy from you every single minute of every day and night. Since there aren’t any limitations, you can sell more and earn more profits.
Importance of trends
Now that you know why and how to sell online, you need to turn your attention to online shopping trends. Despite being a relatively new format of business, the e-commerce sector is rapidly becoming competitive. Other business owners like you and young entrepreneurs are stepping up to absorb what’s left of the market of e-commerce. You don’t want to fall behind your competitors. That’s why you need to learn more about web-based shopping trends in 2020.
The impact of COVID-19: It’s probably the single largest thing that impacted and changed everything in this world, including e-commerce and online selling. Then again, governments of all countries are shutting down the brick-and-mortar stores and implementing lockdowns to prevent people from stepping outdoors.
As a result, more and more people are resorting to web-based sellers for products. You should use this opportunity to move more of your products from your physical shop into your online store.
- Mobile shopping: The small computer-like device that you have in your pocket is the key to be better at selling products online. You should consider creating an app for your e-commerce store and renovating your website to make it mobile-friendly. Very few people use a desktop or a laptop to make online purchases. Mobile devices like smartphones and tablets are the most popular platforms of buying products over the web.
- Utilize social media: Just owning an e-commerce store isn’t going to be enough. Do you notice eBay online shopping advertisements on Facebook, Twitter, LinkedIn, Instagram, and other social media channels? If you do, then you already know the next step to take. To be better at selling products online, you need to follow the trend of advertising and letting people know about your brand and products through social media channels.
The takeaway
All customers want a few simple things while shopping. They only wish to buy what they want and whenever they want. At the same time, they don’t want to pay too much. If you can contemplate what you must do now, then you should follow the information and tips given here to the letter. In doing so, you’ll become an aficionado of online selling within a short time.
Resources:
[1]http://ec.europa.eu/eurostat/statistics-explained/index.php/E-commerce_statistics_for_individuals
[2] https://www.walkersands.com/Futureofretail
Authors Bio
