The mounting recognition of the internet as a tool for shopping is unlikely to slow down anytime soon. According to research, the number of online consumers will reach 270 million by the year 2020. This will, in fact, see the e-commerce sale value stand at a whopping $523 billion, representing a massive rise of 56% in five years. Of course, these figures mean nothing but good news for web-based retailers.
5 key factors that are promoting the growth of e-commerce.
1) Mobile Traffic
The increase of mobile-friendly websites has contributed a great deal to e-commerce growth in recent years. While impressive, this feat is not astonishing, considering that a higher percentage of the globe’s digital population has been accessing the internet using smartphones more than desktops since the previous year. Purchasing on the go is now a viral aspect of e-commerce, and mobile apps are as much an asset to online merchants as websites.
2) Social Media
The pledge for free traffic has been very alluring to online merchants. Facebook is one of the leading social media websites that accommodate 2 million active users around the globe, and a large percentage of online buyers are amongst those users. Predictably, Facebook, as well as other social media forums, has been a launching pad for thousands of online enterprises, and an increasing number of retailers are implementing social marketing techniques to drive sales.
3) Search Engine Optimization
SEO began with online media, but now retailers have acknowledged its enormous value in driving free users to their sites. Distinct to search engine marketing where every new buyer comes at a trivial cost to the vendor, SEO endorses site traffic through natural search. At present, nearly all online vendors consider SEO a website design priority.
4) The Shopping Experience
One of the few reasons buyers prefer to purchase online rather than from a traditional store is that the internet provides them an opportunity to weigh all their options and avail the best deals. They can rapidly search for coupons and promotions as well as evaluate prices from several vendors. Furthermore, the internet takes customer demand seriously and fulfills it instantaneously, through instant delivery. Consumers don’t have to worry about the availability of items, even the ones that are tricky to source locally. The pure expediency of online shopping has added a lot to the augmentation of e-commerce.
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5) Faster Payments
Current payment processing technologies have made buying in online store as easy as ever. Thanks to the high-risk vendor account provide, customers can easily purchase products instantly and safely via their credit cards. Mobile-based payment gateways have also been on the rise and are geared to lead the world payment markets in the upcoming years, further fuelling the growth of e-commerce.
It is certainly a perfect time to be an online vendor. Business is flourishing, and if the above factors continue to play their part, things will be even better. Pakistan has already joined the fray, with Cheetay Pk, FoodPanda, and Road Runner etc becoming leading players in the e-commerce industry. Where FoodPanda and Road Runner are restricted to delivering food only, Cheetay Pk makes sure to cater to all the needs of consumers, whether its make-up, health products, food or books, they will deliver all to your doorstep. This prompt delivery service is starting operations soon in Islamabad as well. Together, Cheetay Pk, FoodPanda and Road Runner have real potential to move Pakistan to the list of leading e-commerce countries in the world.