The digital revolution we are seeing today is shaping the habits of people how they want to access things, how they want to connect and how they want to explore and search. So, it is only natural for people to change their ways of shopping and adopt a better and efficient way.
The Frontier of Online Shopping
In the U.S. alone, people spent a total of about $305 billion in buying items through e-commerce stores, in 2014. This number saw a 15% rise in 2015 as money spending jumped to about $347 billion.
If we look a little back at 2012, e-commerce sales saw a number of about $225 billion. In 2013, it rose to about $260 billion.
This shows that the spending percentage of online shopping is steady and able to go up – as it saw a near to 15% rise each year. This means that more and more people are adopting to online shopping. By seeing this trend, it is safe to say that the U.S. e-commerce market will see another 15% rise in 2016, going to the total of $390 billion.
In Australia, the situation is not that different. The rise in e-commerce sales is the talk of the town. In 2014, the total spending on e-commerce retail stores was $9.4 billion, which rose to $10.76 in 2015. The forecast by analysts for 2016 is showing a 13% rise summing it up to $12 billion.
Globally the numbers are no short of astonishing. The e-commerce store sales reached to a sum of $1.5 trillion in 2014, which progressed in 2015 to about $1.8 trillion. For 2016, the forecast is made to look for the amount of $2.1 trillion.
Online Businesses and Their Future
The above numbers are really exciting and shows that the online retail market has massive potential for existing and new businesses.
If we talk about existing online stores, two names come to the mind without any delay – Amazon and eBay.
Amazon is the top online retail store available. Its net sales revenue in 2014 was $90 billion and it surged to even higher number than expected in 2015 – $107 billion.
eBay is the second most famous store. It lets people post items to sale so that customers can get things at lower prices. The net revenue in 2013 was $16.05 billion, which saw a progressive jump to $17.9 billion in 2014.
These successful numbers of Amazon and eBay should not be any concern to anyone who is starting his own online store. The online retail market has its aspects that are still untapped. More excitingly, the market is expanding everyday so there is more traffic coming to buy goods online and if the novice store provides the affirmation to consumers – they will surely buy from the store and may also become loyal customers if the service is really good.