Rise of Global Ecommerce

Gone are the days when one had to wonder where, how, whom to contact to buy something. Gone are the yellow pages and fat directories eating into our shelf space. All we have to do today is go online and shop for what we want. The best manifestation of this changing dynamic in our society exists in the form of e-commerce platforms. E-commerce platforms can be understood as websites that are akin to an online version of shopping malls – possessing all products across categories under one roof.

Free online classifieds platforms on the worldwide web currently serve people in several countries. These sites offer a wide range of services, from education, fashion, home, vehicles, art and jobs, as well as the buying and selling of all type of products. According to Tech-world BD, there were 2 billion Internet users worldwide in 2011, with this number forecasted to swell to in excess of 3 billion by 2015.  Speaking about e-commerce specifically, industry research firm IBIS world states the e-commerce and online auction arena growth to be 10.4% from 2007 to 2012. A further 8.8% growth is expected annually up until 2017.

As a result, online shopping has become especially popular in developing countries such as India, China, Bangladesh, Brazil etc. For example, in Bangladesh, as awareness of payment methods online is growing everyday, more and more people are opening up to use websites like olx.com.bd to conduct transactions. Online shopping has brought tremendous convenience factor in developing countries. Apart from technological barriers and lack of maturity in the market, developing countries possess the world’s largest untapped potential for eCommerce to boom in the coming years. Rising aspirations and increasing disposable incomes have as it is ensured burgeoning consumption patterns among this massive youth population.

Related Post -   The Marvel Universe

There are various challenges that businesses need to overcome to ride the growth wave of e-commerce industry. Untried and untested business model, low initial profitability and barriers to online payments are some important hurdles. However, in the long run, the benefits will outweigh the hurdles like any new product or business category. The opportunity today is way too large to be overlooked – eCommerce is here to stay!!!

ecommerce

Infographic source: blog.cleverbridge.com

Recommended Post

In Praise of Garage Sales Every weekend, thousands of families sell their extra things right in their front yard. Whether you call it a moving sale, rummage sale, or yard sale-...
Acquisition Work Is Changing – Are You Ready? Infographic: Federal Acquisition Technologies.
2011 Small Business Holiday Season Wrap-Up As we settle into the new year, it’s time to take a moment to reflect on how small business fared during the holidays, the biggest holiday sales seaso...
What is the Cost of a Bad PowerPoint Presentation? This Infographic highlights the Cost of a Bad PowerPoint Presentation. Brought to you by PresentationBundle.com
State of Jobs in USA You might find jobs easily in retail and sales in USA. There are more than eight percent of jobs available in the retail sector in America. You could ...
Indians Go Online and Get Huge Benefits through Discount Coupons Some like to read and digest text matter, however, for others infographics are the way to go. At just a glance you can gain a whole lot of information...
What Are The Hardest Businesses To Own? Though small businesses comprise almost 98% of businesses in the U.S., they are also some of the most difficult to maintain. But are some harder to ru...
The American Dream: A Road to Riches The American Dream has always been about living a good life, having a house, a car, a loving family and a good free spirited life. But, this kind of l...
Who are the Entrepreneurs? If you want to start your own business, then this infographic will give you an insight into the education, problems, and some basic statistics on the ...
Groupon’s SEC Trouble Courtesy of: BackGroundCheck.org