15 Facts About eCommerce - Service

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15 Facts About eCommerce
  • 15 Facts About eCommerce
When an average individual thinks of e-commerce, an online store, which strikes deals and sells products always appears in the mind.

It obliges interpreters to apply various strategies and be creative similar to what is used inpayment acceptance wellcoinex.com

E-commerce has plenty of...

Description of the Service

When an average individual thinks of e-commerce, an online store, which strikes deals and sells products always appears in the mind.
It obliges interpreters to apply various strategies and be creative similar to what is used in payment acceptance  wellcoinex.com
E-commerce has plenty of potential and the possibilities that it brings are virtually unlimited, so traditional markets may be considered to be a little bit old-fashioned.
Business on the internet is booming and becoming more and more prosperous and general statistics prove that.
In fact, the trend and technology that comes with it are relatively new but it can provide a decent platform for very steady income. If a relatively large or a small retailer that operates in a specific area sells products on the high street. The sales can be improved substantially if such retailer moves online and increases the potential client base.
Facts about e-commerce that are listed below can provide some decent help for any entrepreneur.
People may prefer to go online shopping due to a number of reasons.
It might include the following:
  • Pay fewer taxes; 
  • No suffering from crowds; 
  • Prices can be compared instantly; 
  • Save some time; 
Greater choice of products
Moreover, people are desperate to get online for newly launched products to find out of\bout the price rather than rushing to the high street.
In case if an online store provides fast and swift dispatch, then there will be no sense to go to a land-based store in the first place.
If more forethought and research with regards to a potentially purchased product has to be made, customers may not rush for a deal;
For instance, if an individual likes a pair of shoes in a store and makes comparisons online as well as finds a better deal, the prospects of buying on a high street might be bleak.
Official statistics prove that the mobile version of e-commerce may boost sales substantially.
It is argued that if an online store cannot be accessed via the portable device and the site is not compatible with the mobile version, it will be harder for the business to attract many clients to this store and people can buy goods from another enterprise.
Stores that are fully optimized for mobile devices have lots of features to play with, including touch and scrolling, high-quality images as well as intuitive interfaces.
If a store has a mobile version, the prospects of reaching thousands of new customers every month are much higher.
Getting started with some basics 
  1. E-commerce commenced as far as in 1979. A simple TV was connected to a phone and it immediately established shopping back. It was created by Michael Aldrich. Technology boomed in the 80s and 90s before the internet really took on the world. 
  2. Amazon started its activities in 1995 but the company was not profitable before 2003. By the year 2012, the average value of each order at the company is equal to USD 47.31and then it started its way to become the largest online retailer. 
  3. Blockbuster was the biggest video rental company in the world on the high street and created Blockbuster.com in 2004. However, it was Netflix that started to compete with it in the early stages and won the online battle. Now it is the biggest name in online video-on-demand services. 
  4. In the latter part of 2012, every second every PayPal transaction amounted to USD 4423.00. It took a while before the company has becomes the most popular and secure way of making payments on the internet with no details of credit cards being provided to third parties. 
  5. When Groupon did not accept the bid from Google for a staggering USD 6 billion in 2010, it successfully launched an IPO in the following year. 
How e-commerce is affected by social media?
  1. A company such as Zeppo makes money based on making referrals from social media. For instance, it makes USD 0.75 from Pinterest, USD 33.66 from Twitter as well as USD 2.08 from Facebook. 
  2. Approximately 46% of all potential buyers rely on social media before committing themselves to online purchases. 
  3. Roughly 47% of all people claim that Facebook has the greatest influence on what is about to be purchased. 
  4. Today, approximately 54% of all Facebook shoppers use mobile devices for their purchases. 
  5. The largest order value belongs to the company called Polyvore and amounted to USD 66.75. 
E-commerce prospects of growth
  1. Now, more than 80% of the whole world’s population uses the internet to purchased services and goods. 
  2. Approximately more than 50% of the entire population of the world have shopped on the internet more than once. 
  3. It is believed that by the year 2040, more than 95% of all retail transactions will be made via the internet. 
  4. The countries where e-commerce is really booming are India, Saudi Arabia, Indonesia as well as Australia followed by the Philippines. The lowest growth is observed in Latvia, Ukraine as well as France. 
  5. According to eMarkerter prognosis, e-commerce will showcase further increases in its turnover in the following years. 
Additional statistics with regards to e-commerce
  • By using mobile apps, it will be easier and more efficient to boost sales; 
  • The statistics below represent perfectly what the biggest online stores are, groups that shop online and what types of payments are the favorites; 
  • Most of the transactions online are made by cards but PayPal holds a solid 35%; 
  • In North Dakota, people spend lots of time online and spend approximately 16/17% of their income there; 
  • Amazon is the leading store in the world, then it goes eBay, Apple as well as Walmart, and finally the Home Depot; 
  • People of the age 31-44 and 55-65 spend more money online, which is amounted to 68%. 
  • Shoppers online may spend online around USD1200.00-1300.00 each year; 
  • Pizza Hut was the first chain that introduced pizza orders online in 1994; 
  • Those who are over 71 believe that better deals can be found on the internet; 
  • Every minute there 195 shoppers who make purchases online. 
There are lots of facts about e-commerce that might be really amusing and fascinating. The industry is going to prosper and there is no doubt about it. But many people are amazed by the number of transactions that take place each second and especially PayPal that showcased USD 4423.00 of transactions for each second being made.

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