Why These E-commerce Facts Should Influence Your Business Strategy

E-commerce has proved to be a game-changer for businesses worldwide. The rise of online marketplaces and internet accessibility has altered the way consumers shop, leading to a fast-paced evolution of business operations. In this article, we discuss why these e-commerce facts should influence your business strategy.

1. E-commerce is Growing Rapidly

According to Emarsys, e-commerce retail sales worldwide amounted to $4.28 trillion in 2020, with an estimated growth rate of 14.3% per year. This growth rate is set to continue, and businesses that fail to embrace e-commerce risk being left behind. E-commerce enables businesses to expand their reach worldwide, create new revenue streams, and operate 24/7.

2. Mobile E-commerce is a Must

The majority of e-commerce shoppers use mobile devices to access online stores. According to Statista, in 2021, mobile e-commerce will account for 73% of all e-commerce sales worldwide. This means that businesses must provide a mobile-friendly website or application to cater to this shift in consumer behavior. With Google’s mobile-first indexing algorithm, having a mobile-responsive website is also essential for search engine optimization (SEO) purposes.

3. Customer Experience is Key

E-commerce platforms offer a wide range of opportunities for businesses to enhance the customer experience. Fast and reliable shipping, easy-to-use websites, and excellent customer service are all essential components of successful e-commerce. According to a survey by Bizrate Insights, 89% of consumers are less likely to return to a website after having a bad experience.

4. Social Media is a Powerful Marketing Tool

Social media is a game-changer for e-commerce businesses. It enables businesses to connect with their target audience, build their brand image, and increase traffic to their website. Facebook, Instagram, and LinkedIn are some of the popular social media platforms used by businesses to drive sales and promote their products. According to a survey by Statista, 54% of internet users worldwide use social media to research products before making a purchase.

In conclusion, e-commerce is constantly evolving, and businesses must adapt their strategies to stay ahead of the competition. Mobile e-commerce, customer experience, and social media marketing are some of the crucial factors that businesses need to consider when devising their e-commerce strategy. With the right approach, businesses can successfully leverage e-commerce to expand their reach, increase sales, and enhance their brand image.

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