Recent studies show that by 2017, retail e-commerce by mobile is expected to increase by 35% while online selling is predicted to surpass the profitability of brick and mortar stores for the next five years. Sound interesting? Globally, the number of households with internet access is continuously growing. This could mean that e-commerce sales could skyrocket as the figure rises. Currently, 40% of the global population has bought an item online which explains why some of the traditional stores in your locals may be closing up and moving to internet operation.
Of course, retail e-commerce is far from what your rose-tinted lenses have revealed to you. It involves hard work and patience as competitors continue to grow and categories such as jewelry, accessories, clothing, and electronics are turned into some of the oversaturated markets. Despite the challenge, this new economy brought about by the advent of internet technology has undeniably altered the way people do their shopping. It has changed the consumers’ buying behaviour, and will continue to do so as more innovations are discovered.
What does this mean to you? If you are one of those people who have been whining at work and wanting to regain your lost freedom, the accessibility of an e-commerce platform could be your gateway towards the elusive financial freedom. Here’s why…
1. Save time while earning profits
Once you have established strong followers that patronise your services and products, you can forget about spending seemingly endless sleepless nights for brand exposure. When you have set up your site, you can take advantage of full automation as internet efficiency and inexpensive virtual assistants can reduce the amount of time you spend on the internet. Further, this will allow you to divert your attention to other aspects of your business such as continued innovation and other bigger projects.
2. Win zealous buyers through your professional online presence
Do not underestimate the power of word-of-mouth. Cliché as it may sound but this old marketing technique still holds true when it comes to internet selling. When you dream of exponential growth for your e-commerce, building brand loyalty should be at the zenith of your goal as zealous buyers would rave about your products and services on their social media pages. This could eventually direct their friends, relatives, and acquaintances to your page.
3. The Internet holds the perfect formula for scalability
With more than 40% of the global population resorting to online shopping, the internet could be the ideal haven for scalable companies. Not only does it allow entrepreneurs to operate at a dramatically reduced amount of capital, but it also permits social media integration, free access to most marketing platforms, and fills the gap between buyers and sellers through real-time customer feedback that lets the latter identify the customer needs.
4. Who needs pricey marketing strategies when you have social media that brings guaranteed sales?
Based on the 2015 Social Media Report conducted by Internet Retailer, social networks brought $3.30 billion worth of sales in 2014 while e-commerce traffic rose by 7%. As more and more households engage in social media platforms, this figure is expected to increase which could drastically alter the way marketers view social media.
5. Use the internet productively!
Most of the people today stay connected majority of the time. Whether they are on their phone or laptop, the chances of them scrolling through Facebook feeds and jumping from one tab to another are high. Why idle around when you can make use of those times earning money? Don’t just be online shoppers. Cross the line and start your own e-commerce site to secure your financial freedom. Remember, success doesn’t happen overnight so why not start now?!
