The History of E-Commerce, Online Shopping Evolution, and Buyers Behavior


Tag Archives: Online Shop

the-history-of-e-commerce-altushost-com

The History of E-Commerce, Online Shopping Evolution, and Buyers Behavior

If you’ve ever asked what is e-commerce here is the answer? It’s something that 80% of the world’s internet users have used. In short, it’s the buying of goods and services online.

Today most of us take it for granted, we don’t even need a desktop computer or laptop anymore. Just a mobile device with an app or browser. We can find nearly every retail product available, at the cheapest prices and we can do so from any location without worrying about going to the store. Retailers don’t even need a traditional outlet when they serve customers via e-commerce, and it reduces their overheads and improves efficiency. No wonder it’s still one of the fastest growing industries in the world.

the-history-of-e-commerce-altushost-com

A new infographic from eReviews explores the amazing growth of e-commerce and some of the most exciting facts along the way. Perhaps the most startling was the value of the market. When people first began Amazon shopping and eBay bidding in 1995, the entire online shopping market was valued at just $131 million and the likes of Paypal had not even been invented yet. In 2015 when almost all major retailers are now online and customers are increasingly shopping on their phones with multiple payment options, e-commerce is valued at a staggering $1.55 trillion!

Of course, in the beginning, e-commerce was an American phenomenon, but as the internet has expanded across the globe it is now population dense China that boasts the biggest economy, worth $562.66 Billion. The Alibaba empire founded by Jack Ma had the largest public offering in history, at $25 billion. To put that into perspective, that’s twice the amount of Malta’s GDP in 2015!  

The US still isn’t far behind with a market of $349.06 Billion in 2015, a jump of over 14% from 2014. Amazon.com alone made net sales of $107.01 Billion. That’s quite impressive when you take the fact that the company didn’t make a full year’s profit for nearly its first decade of operation.

The UK is a distant third, yet they are held in high esteem. Data suggests half of online shoppers have sought out high-quality British products. When measured on a per capita basis (i.e. the percentage of the population that shops online), the UK market became the largest in 2010. They also have the distinction of making half of their Paypal transactions via mobile.

It’s mobile and other innovations that are driving e-commerce into the future and changing the landscape. 90% of companies now use social media for their business, and many platforms now have tailored features for e-commerce. The future also promises unending growth, as even more of the world’s population gets online. The US is expected to reach a market value of $548 billion by 2019. Overall online shopping is expected to be worth more than $2.35 trillion!

If you’d like to learn more about the history of e-commerce, it’s fascinating facts, and how it’s changing for the future, then make sure to explore the entire infographic

from eReviews.  ECommerce History - Altushost

Shopping in The Digital Age

How To Bring Your Brick and Mortar Store into the Digital Age

Although we have seen a huge shift towards online shopping in the past few years, the fact still remains that old school brick-and-mortar stores offer enough benefits to stay relevant in the digital age. Of course, this doesn’t mean that you can go ahead and open up an old timey mom and pop shop and just rely on word of mouth advertising and your loyal customers from the neighborhood.

Times have changed and the way you do business needs to change as well, but business owners with brick-and-mortar stores are in quite a unique position – by using a few online marketing tricks while still focusing on providing a unique in-person service, you can get the best of both worlds.

Here are a few things you can do to stay relevant and bring your store straight into the digital age.

Make Your Store More Mobile-Friendly

 

Everyone has their smartphone in their hands for most of the day, and you can take advantage of this fact. There are a number of ways that you can allow your customers to get the most functionality out of their phones in your store:

The use of QR codes – by simply having a QR code on each product, you can allow customers to scan each item using their phone, and gain access to tons of incredibly useful information, e.g. available sizes and colors, reviews, suggested accessories and items that go well with that product, etc.

The use of tablets and interactive software – you can arm your employees with a few tablets and install all manner of cool apps that can help improve the average customer’s shopping experience. There are lots of options from dress up apps that allow shoppers to quickly mix and match different outfits or look at different color options, to videos that show the product in action.

With a few changes like the ones above, people will feel much more comfortable in store and no one will have to wait for someone to walk up to them and offer help.

Turn Your Website Into a Window-Shopping Heaven

 

image01

Now, you want your customers to come on down to the store where your employees can make a sale and get them excited about staying for longer and making a few extra impulse buys, but a good website can actually help you lure more customers in. For one thing, you can add a click and collect functionality, where customers can take their time and choose what they like online, from the comfort of their own home, and then just come over and pick it up at their earliest convenience.

Another great thing about this is that you can let them spend some time on the site and create a wish list, even though they currently don’t have the money to spend, which is a lot more comfortable and pleasant than window shopping in person and having the store clerks roll their eyes at you.

The best thing is that they’ve already invested time and effort, gotten familiar with your store, and chosen exactly what they want, so as soon as that paycheck comes they will run straight for your doors.

Inspire Your Employees to Become Brand Ambassadors on Social Media

 

image02

A lot of people, and especially businesses, are still somehow social media illiterates, which is a huge shame. There is great potential in social networks as a marketing tool, but you need to know how to play the game. It’s best to let your hip young millennial employees do all the talking for you, by giving them some sort of incentive for sharing some of your blog content and promoting your brand on social media.

A slight pay bump for a few minutes of clicking and a few nice sentences about your company should be a win-win scenario. You can have them post a few fun “behind the scenes” photos of them goofing around or having a good time, alert people about sales and promotions and just generally talk about things that people might want to know about your industry.

Despite what some people would have you believe, brick-and-mortar stores are still going strong, as people will never get rid of the need to step in and try things out for themselves or interact with another person who can tell them more about a product. As long as you can put some effort into building an online presence and reaching out to your customers both online and offline, creating an exceptional user experience in the process, your store will be full of customers in no time.

Subscribe Now

10,000 successful online businessmen like to have our content directly delivered to their inbox. Subscribe to our newsletter!

Tags