E-commerce gives businesses incredible opportunities to capitalize on the rising demand from consumers who are interested in shopping online. In support of this, we have compiled some amazing facts about online commerce around the world and its best features.
The most popular product categories in the world of online shopping are clothing and footwear, home electronics, and books. The first place among the preferred payment methods is surely the method of using a bank card. In the American, European and Arabic countries, payment on the receipt became a common practice. Also, more than 30 per cent of all online transactions are made through mobile devices. And that number continues to grow. Taking this into account, don’t forget to make sure your online store’s design is tailored to different screen sizes, first of all – smartphones. E-commerce Solution Development should be oriented towards all technological approaches as some clients prefer using their PC to pay for certain services while others prefer to use only their smartphone or tablet.
Top e-commerce promotion features look like the following: first place goes to search engine marketing (SEO), second place is contextual and display advertising which is necessary to collect the appropriate numbers under the conversion rate, and third place goes to price aggregators – resources that collect data about products availability, pricing categories available on online stores, and provide these data in a convenient for comparison and selection from. By the end of 2020, worldwide online store sales are going to reach $2 trillion. Compared to 2017, this is 6 per cent bigger.
One of the market trends is the expansion of payment options. Many online store owners are using traditional payment tools, but demand for innovative payment methods is growing. Stepping up to this demand is driving further expansion of online retail, in particular through Apple Pay and other contactless payment systems. According to analysts, the main problems that may limit market growth in the future include security and privacy issues.
The progressive web app is a technology in web development, which adds mobile applications opportunities to websites. The well-known Aliexpress, for example, is a successful example of the introduction of PWA in e-commerce. The use of this technology is not already perceived as an addition, but as something taken for granted such as speed, navigation, and site functionality.
There is no doubt that the e-commerce market will continue to grow, because even in Western countries it shows positive dynamics, not to mention Eastern Europe and developing countries of Asia. There is even more potential for online shopping ahead.
The main challenge for most e-commerce players around the world is the increasing requirements for the technological component of online shopping, the need for multichannel promotion, ensuring the security of customers’ personal and payment information.
However, as practice shows, the market successfully finds solutions to all those problems that arise in the process of its development, and the most effective solutions quickly become the actual standards in the industry.
E-commerce has been evolving over the last decades, especially now that mobile devices are becoming increasingly popular in the global market. More than 40 per cent of Internet users (1 billion) – purchased goods online. This number will continue to grow as mobility and Internet use spread throughout the world. This changing market provides enterprises with a huge opportunity to increase their relevance and expand their market in the world of online.