A successful E-Commerce business requires a lot of dedication and investment, but it can pay off in
the long run.
E-Commerce is a giant industry that has enormous potential to grow worldwide and brings forth
numerous opportunities. In the digital age, the E-Commerce industry is the most profitable industry
for anyone who wants to start a business and sell products.
The way of selling products has completely changed from the real world to the digital world because of the growth of the internet and social media. Global E-Commerce sales reached a total of $5.7 trillion worldwide in 2022. In the coming years, this number is expected to continue to rise, proving that businesses are increasingly turning to E-Commerce for revenue generation.
The world of E-Commerce is never stagnant and it is changing to new dimensions. This makes for an interesting choice who are looking to grow their business amidst some adventures. And yes, the trends in E-Commerce in 2024 are sure to rise and 2024 is a year where the E-Commerce industry is going to face a huge uprise.
So it is always better to catch the train before it leaves the station, right? As we
know the potential that E-Commerce brings, we should utilize it to the fullest
extent.
But before that, we should know what E-Commerce is, how E-Commerce works, and what
is the future of E-Commerce right?
Let us dive straight in to know the complete details of the E-Commerce industry and
why you should start one.
The term 'E-Commerce’ is a shortened form of the word "Electronic Commerce" and refers to
the buying and selling of goods, as well as services, via electronic means such as the
internet.
It covers a wide range of retail categories including financial services, along with other
areas such as hotel reservations and car rentals. The most popular E-Commerce websites are
Amazon, eBay, and FlipKart.
E-Commerce has been around for over thirty years and is just starting to develop into a huge business opportunity. Traditional shop owners have hoped for an E-Commerce business structure to have a larger customer base which will ultimately produce more income and give them a worldwide reach.
Explore servicesE-Commerce is a significant part of any business. Online shopping has become a trend and this machine cannot be stopped. The emergence of E-Commerce has made business owners more convenient for people to make purchases without any worry.
Online stores are becoming popular now. E-Commerce businesses can generate revenue in a variety of ways, and it's important for business owners to find the model that works best for their products and services to generate huge revenue.
E-Commerce has benefited both sides of a market i.e buyers and sellers. If we talk about the sellers then through online platforms they are prevented from bargaining and selling the product at the price they decide to.
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Buyers are also on the beneficial side because they can order and check out things from their comfort zone. Not only this but the product gets delivered to their doorsteps as well. This made the buying process faster and less stressful too.
Finance plays the main role in setting up the business. Sellers are inclined more towards the online platform because offline they have to pay extra charges for rent and maintaining the things which are essential for their business. But, when it comes to online platforms then all these costs have been reduced because it holds no physical presence.
In offline mode, a seller needs to hire employees as well for customer interaction whereas online mode doesn't have such requirements. E-Commerce has one-to-one interaction and an easy process for purchasing things. So, this is beneficial in the aspects of finance, which is the priority in business.
E-Commerce comes with no boundaries. This is all around the globe and an individual can scroll to every desired product of them. Coming to offline stores, where people can go only to the places they are reachable at. But, the internet has no limits as an E-Commerce platform.
Today is a generation of UPI and cards, E-Commerce has already understood it well. They give
various modes of payment so that customers can go with the one they are comfortable with.
Whether compared to offline not these many choices have been given in every aspect of
shopping.
When most customers prefer to shop online, if you, as a business owner, still hang on to the
old-school methods, then there won't be any growth in your business. That is mainly the
reason why every business owner should use E-Commerce.
The E-Commerce business is on the rise, with more than $3 trillion in global sales in 2017.
It’s not just about selling products anymore, it’s also about marketing and getting customer
engagement.
Some major players in the market understood this dynamic and have grown tremendously over
the years.
Let us see some inspiring growth stories of those companies.
BookMyShow is India's largest ticketing portal which earned 563 crores in revenue in FY
2020. Three friends came up with a revolutionary idea for BookMyShow where
movie/concert/shows tickets are booked online. From concerts to movies, all tickets are
available here and it is just a tap away from the reservation. This is a beneficial as well
as a time-saving invention in the field of E-Commerce business.
BookMyShow has made the theater experience less stressful and more enjoyable. They have sold
more than 15 million tickets till now. Ideas like this show the power of an E-Commerce
business and how much revenue it can generate for the business owners.
This is one of the famous E-Commerce companies in India, launched in 2010. The First cry is
focused on baby products. The brand was launched behind the idea of the struggle parents go
through while choosing the best products for their children.
First Cry has solved the majority of issues by providing the best of all that also goes with
the trend. This is all in one store when it comes to shopping for infants.
Whether it's online or offline mode, the first cry serves in both. This is their integrated
hybrid business model where they are active in both modes. The company's revenue has
increased year after year due to its quality service as you can see in the image. First cry
is currently serving more than 125 countries which is a good jump for them as an E-Commerce
company.
Indian commerce company IndiaMART began in 1996 and provides B2B and customer-to-customer
service. This basically acts as a platform where buyers and manufacturers connect and
interact about the services they have and the ones they want. In India, there are numerous
groups of people who want to pursue business.
IndiaMART is an E-Commerce platform where things have been taken to a digital level that
gives easy access to everyone's cell phones.
This is a "Horizontal Marketplace" where suppliers get a huge number of potential buyers
that too on a digital platform. With evolutionary times IndiaMART helps a business cope with
changing and upgrading trends. The organization helps users to overcome issues like
inconsistent network coverage and mainly the quality in remote areas. Because of its quality
service, IndiaMart’s revenue has skyrocketed over the years.
“What is expected of E-Commerce in the coming years?” is a question that you may have as
someone who wants to start an E-Commerce business.
The reason is simple: consumers are looking for more convenient ways to purchase their goods
and services online, from everything from groceries to furniture and even cars. As a result,
E-Commerce sales continue to grow at an impressive pace each year.
Well, The E-Commerce industry has grown exponentially over the years.
E-Commerce is the future of retail, and it's already happening now. With over 20.8% of all
global sales being made online today, companies that aren't taking advantage of this trend
are missing out on a massive opportunity.
By 2025, we estimate that E-Commerce will account for nearly 23% of all retail sales
worldwide - up from 7.4% in 2015! This means that your company's revenue could be growing by
leaps and bounds if you start an eCommerce store today!
E-Commerce is changing rapidly and there are new trends emerging each day. By 2024,
E-Commerce will account for $2 trillion in sales worldwide, according to Forrester
Research.
From these statistics, we can understand that the E-Commerce business has a steady upward
trend, which will grow further in 2024. So now is the best time for anyone to start their
own E-Commerce business.
The future of eCommerce is bright as it is a growing and in-demand sector. Taking a look at the angles from which eCommerce can possibly grow, let's see what we can expect.
E-Commerce companies are setting new standards of business in India. Here, various sectors are involved and growing together. From groceries to fashion and whatnot, everything is available on the E-Commerce platform. They have merged all the sectors and presented them as one. The increase of E-Commerce in India promotes the growth of multiple sectors. This is the one-step benefit of all sectors because of the way they are presented to the customers.
Future of E-Commerce lies in Mobile E-Commerce. It is stated that the maximum sales that will be done globally will be set through mobile commerce. Most of the payments are done through UPI, which automatically increases mobile commerce. Businesses are gradually moving towards online platforms, where they prefer online payment and increasing digital payment modes. The growth of E-Commerce in India is promoting digital products and services in a useful manner as with the payment mode.
Explore servicesThe way E-Commerce industries are increasing tremendously in India, they are increasing the revenue rates too. As the retailers increase their reach across small towns, they also tend to invest in Logistic gates to keep pace with the growth.
E-Commerce will not be bottled up in a single mode of buying and selling like websites.
Already the phenomena of live commerce are being tested in China successfully. In 2016, we
saw that the Chinese retail giant Alibaba launched its first Livestream shopping event with
great success. Live commerce is the act of selling products online through live video while
shoppers interact with the brand in real time.
And by great success, we mean bringing in $7.5 billion in transaction value.
With new forms of E-Commerce, new marketing channels will also arise. Selling products
through social media such as reels on Instagram, Tiktok, etc will take place due to the new
shopping features.
Chatbot technology is also used to make customer service relations easier for companies as
it is faster and more scalable. For instance, a customer can make a complaint about an order
through chat instead of emailing or calling customer service representatives. This way both
the customer and company get their issues sorted out much quicker and are happier with the
outcome
With the introduction of AI-driven services like chatbots, E-Commerce businesses can now
offer engaging interactions with their customers while they browse their websites and make
purchases.
As a business owner, there are lots of responsibilities you need to take care of, maintain
and run. Creating, designing, and maintaining an E-Commerce business site is a heavy task
that will take too much of your time.
That is why we ease your burden by offering you a complete eCommerce setup to help you get
started as an E-Commerce business owner. We understand that as a business owner, your time
and resources are limited.
So we have made the process of creating an E-Commerce website as simple and stress-free as
possible. Our team of experts will work with you every step of the way to design and build a
website that not only looks great but also converts visitors into paying customers.
Simply put, If you want to choose the best, you have to choose us.
Through our services we,
● Design Your E-commerce Website
● Create a Quicker and Fast loading website
● That is SEO Optimized and
● Are Mobile Responsive
● With 24/7 Support
● And Help You Get Leads
● With the help of Digital Marketing
● And Save Your Time
All of these services are done for you at a very affordable cost.
Shortly, we prepare a step-by-step plan for creating an E-commerce website for you and
enhancing your digital presence.
Hence, you can say that E-Commerce is the future of business, and it's here to stay. The
growth of E-Commerce has been astonishing and will continue to grow in the next few
years.
If you are a business owner then you should think about E-Commerce in 2024. It's going to
impact your profits and business for sure. The growth of the E-Commerce Industry is
unbelievable and shocking. If you have a product then start your store today with the help
of our E-Commerce service, and start earning huge profits in the future.
To get started with this business you need to choose the best eCommerce website builder for
your online boutique business. Join our store creation services and get one step ahead of
your competitors as we provide you with multiple platforms for your ECommerce store.
If you are looking for more information on the amazing power of E-Commerce to grow your
business, please do not hesitate to reach out. We are eager to help you every step of the
way.
Don't just take our word for it, try our service for yourself to see the difference we can
make for your business. Contact us now and join the thousands of satisfied customers who
have created their dream websites with us.