Despite e-commerce appearing commonplace in retail websites, we’ve discovered that many smaller businesses are shying away from the online market place. A popular argument is that e-commerce will cause a business to lose money through things like pesky service charges and shipping.
Unfortunately, the truth is that refusing to equip your website to take orders and receive payment is what will cause a business to lose money.
83% of internet users have made a purchase online. That is a weighty stat, right? We’ll wait while you let it sink in. Ready? Let’s add another one.
In Canada, 26% of college students buy more online than they do in person.
Not just an add-on anymore
When making purchases online first got started, small businesses could get away with staying off the field because their local competition was sitting on the bench with them. This is no longer the case. If you sell a product, your consumer now expects to be able to purchase it online.
This is a good thing! Who doesn’t want their customers to have access to their goods 24 hours a day, seven days a week? The moment that your product crosses a consumer’s mind, they can purchase it. Someone happens to mention your company on Twitter? Potential customers can head to your site, browse your products, and then buy something!
E-commerce on the run
With the ever-expanding mobile internet, your customers don’t even have to wait until they get home to buy from your online store.
Imagine if you’re sitting on the streetcar and notice that the person next to you has a scarf you really like on. After asking where they got it from, you can pull out your phone and order one in three different colours.
Why all of this shopping in front of a screen?
Statistic Brain recently posted the top reasons why people shop online and here they are folks!
- To save time (73%)
- There’s more variety online (67%)
- To compare prices (59%)
Those reasons are hard to argue with!
On a lighter note, Mashable partnered with PayPal to publish the 17 Things You Didn’t Know About E-Commerce. Now that you’re interested in e-commerce and want to learn more, we figured that we should share a few of our favourites with you.
“1. By connecting a modified domestic television with a phone line, Michael Aldrich invented online shopping in 1979.
5. During the third quarter of 2012, $4,423 was transacted per second via PayPal.
8. 71% of shoppers believe they’ll get a better deal online than in stores.
11. India is home to the fastest growing ecommerce market, and France is home to the slowest ecommerce growth.”