Before the rise of the internet, starting and running a business was very complicated and laborsome. As technology advanced, the idea of buying and selling online became more popular. There are around 10 billion devices connected to the internet in 2021. This means that businesses can reach hundreds of thousands of potential customers seamlessly. To most of us, eCommerce is all about making a few taps on our devices and receiving our desired products a few days later. In reality, the influence of eCommerce is much greater than what we perceive.
The industry totaled a 4.9 trillion dollar revenue worldwide in 2021 and is growing at an exponential rate. Today we will be looking at some of the ways eCommerce has changed the way we live.
Increased Convenience
Whereas previously we had to physically travel to shop for our desired products, nowadays all you need is a device and an internet connection. You can check for availability, make purchases, compare products, and communicate with the seller all from the comfort of your house. What used to be time-consuming and laborious tasks can now be done in just a few minutes.
By moving businesses like a bookstore or casino online, owners have been able to attract previously unreachable audiences. Owners can also run their businesses 24/7 without being confined to one place.
Availability and Information
Availability has been one of the most prominent issues with physical shops and businesses. When a limited item goes out of stock, the seller cannot inform the customer unless they are physically present. Sometimes the customer has to travel long distances to get the required items. In online shopping, the stock of every item can be fed into the system once and the rest is taken care of automatically.
Online stores also show tons of other information like dimensions of products, materials or ingredients, and more. Users simply have to click on the product to see the price, reviews, ratings, and the amount in stock.
New Levels of Transparency
With the popularity of social media, almost every company has an online presence. Social media accounts can be a great way to gauge the authenticity of a company. Anyone can leave their opinions, comments, and reviews online, this way we can buy the best product according to our needs and avoid any shady items.
The new era of online communication has also promoted a culture of transparency. Brands can tell the stories behind their products and provide detailed information about the manufacturing process and ingredients.
Advanced Security
While the internet was not always a secure place, nowadays the technology has become advanced enough to prevent any major threats. New encryption methods and extra layers of security mean that customers can shop for their favorite products without much issue. You will still need to be a little careful avoiding all the scams that exist in online marketplaces.
However, in the last 5-10 years major upgrades have been made to ensure customers can safely make transactions. It is easy to recognize sketchy websites and scams on the internet. Always make sure you buy from reputable sources and take the necessary steps to safeguard yourself.
Final Thoughts
E-commerce has brought forth a ton of benefits for the people. By automating expensive and time-consuming tasks, it has allowed businesses to make bigger profits and reach a larger customer base.
While the technology is still far from perfect, it is still the best we ever had. In the near future, we can expect futuristic integrations with Artificial Intelligence and machine learning which can further amplify our experience online.