We are going through a transitional era where, day by day, people prefer shopping online than a typical retail store in the street. We informed in our previous post that in the U.S E-Commerce is increasing 15% each year. Globally, the E-Commerce sales saw a 20% rise from 2014 to 2015.
Let’s have a look at the four primary reasons why we are seeing this rise in e-commerce business and why more and more people are attracted towards it?
- Better Prices
The prices of goods in online stores are cheaper than a store in the street. That’s because almost all people use the internet to find the best deal. According to a research, 71% of American think that they will find a better deal on the internet (online store) than in a physical retail store.
As searching on the internet is not that difficult than physically visiting one store and the other, that’s why customers roam around the internet and search many e-commerce stores. At the end, they buy from the one which sells their selected item in the lowest price.
For example, eBay offers used items at a low price, which is attracting millions of people every month. People buy from eBay because they can search the site and view all the different prices posted by different users and select the one they are comfortable with.
If you are in a physical store there is a chance you won’t find the item you are looking for. If you don’t have time to visit another retail store near you, you are forced to buy the different item and maybe at a higher price.
However, while roaming through online stores, you can search for the exact item of your choice and buy it without even getting out of your chair.
For example, if you are looking for a particular pair of shoes and you are not finding it in your physical store – as you don’t have much time – you may end up buying another pair that is more expensive.
But if you are buying from online stores like Amazon, eBay, Walmart and Best Buy, you just have to visit the site and buy the shoe you want. If you can’t find the shoe, then you can visit another e-commerce store, because it is less time consuming.
When you have to visit a physical store, you get stuck in many nano-tasks like getting dressed up, cleaning the car, stopping at the gas station and waiting in the store. Even after that imagine going to another store when you can’t find the specific item you came all this way to buy.
However, for an e-commerce buyer these nano-tasks are non-existent. You can buy your favorite item while wearing pajamas. Also, if you can’t find a specific item, you can always visit hundreds of other online stores to buy it. A recent research showed that 60% of American are glad that they don’t have to shop in a crowded place.
- Discreet Shopping
This can’t happen in e-commerce shopping because no one is watching you. You can buy anything without feeling embarrassed.
E-commerce is a growing market, as of 2014, 63% of online sellers don’t sell elsewhere. This shows that many businesses are solely dependent on e-commerce. With a great potential to reach even higher levels in the coming years, the online shopping market is just starting up!