It wasn’t too long ago when having a business solely online was unheard of. Why go online where people won’t be able to find you? How can they come see you or your products in person? Making online purchases was risky and could potentially lead to having your information stolen. However, a lot has changed in recent years. In fact, studies show that more and more people are making most of their purchases online.
The 2019 Canadian E-Commerce Report
To give you an idea, the 2019 Canadian E-Commerce Report revealed that 80% of Canadians make their purchases online. From 2016 to 2018, the number of online consumers increased by 58%. The online industry has seen a significant increase. People are now more confident than ever to make their purchases online. With additional security measures added and fast shipping options available, consumers have no reason not to buy online. With the improvement of technology, apps and smart phones, businesses have made it easy for their clients when it comes to doing online purchases. Technology has significantly increased within the last 5 years and with, so has the online market. The 2019 e-commerce reports reveals that with the rise of online purchases.
Great opportunity for business growth
E-commerce is not only great for consumers who can now shop anywhere, anytime. It’s also great for entrepreneurs. E-commerce opens the door to new possibilities and growth. Entrepreneurs can now reach clients worldwide. Because their business is now accessible online, anyone from around the world can visit their online store and purchase their products. This is a huge growth opportunity for business owners. Not only is it an increase in revenue, but it’s also great for expansion. Going international has never been easier. Business owners can reach more clients and expand their brand across the world. No longer are they geographically limited. This is a huge opportunity for small businesses who are looking to expand.
More competitive and current
There’s a lot of competition when it comes to the online market. Therefore, you need to make sure that you have an online presence. Often, the first thing clients ask when you tell them about your business is if you have a website so they can make their purchases online. Obviously, if you’re answer is no, you are restraining yourself to a limited clientele. You need to stay current with the trends. This means having an online presence. Consumers today no longer have the time to go visit you at your physical location. Why limit yourself to only a certain number of clients when you can open your business to the world? Having a strong online presence and an e-commerce business can significantly contribute towards the success of your business. It will not only make you more competitive in the market space, but it will show your clients that you are current and up to date.
Good on all aspects
Having an e-commerce business is good on all aspects. Aside from opening your business to new opportunities and a wider client range, it’s also financially smart. For starters, you don’t have to worry about renting office space and you can better manage your inventory. E-commerce is the future of business. More and more consumers are turning towards the online market and it’s crucial for entrepreneurs to embrace e-commerce. With so many great resources available to help entrepreneurs on the path of e-commerce, there’s nothing stopping them to embrace the online market.