Most small businesses have a website, but not every business owner has yet to embrace selling things online through e-commerce solutions. While there are certainly technical challenges associated with setting up a secure e-commerce channel on a website, usually, the benefits far outweigh the costs. This isn’t just the word of popular opinion, here are seven stats that should get small business owners to setup an e-commerce solution for their business.
Ecommerce is already an important part of the US retail system. According to a report from eMarketer, eCommerce will account for 6.4 percent of the $4.73 trillion in total US retail sales in 2014, which is an increase of 15.5 percent.
A study from Deloitte shows the value of ecommerce for packaged goods retailers. The study found that 61 percent of consumers buy more consumer packaged goods products online now than they did last year and 60 percent of consumers want to buy consumer packaged goods products from more categories online in the future.
Businesses that don’t embrace e-commerce will find themselves missing out on more and more of the national market. According to Forrester Research, eCommerce will account for 11% of US retail sales, or $414 billion, by 2018. Additionally, mobile commerce will account for 54 percent of US eCommerce, or $293 billion, by 2018.
E-commerce and in-store sales compliment each other. eMarketer reported that 78% of US online consumers have made a purchase in-store after browsing for a product online and that 72% of US online consumers have made a purchase online after browsing for a product in-store.
Adding an e-commerce solution is also a good step towards meeting consumer expectations. According to Forrester Research, 71 percent of US consumers expect to be able to view a retailer’s in-store inventory online and 50 percent of US consumers expect to be able to purchase items online and pick them up in-store.
When advertising and marketing on multiple channels, business owners need an e-commerce solution so people can quickly act on the deal. Forrester Research found that 44% of US tablet owners and 24% of smartphone owners use their devices to shop while watching TV. Also, 14% of US tablet owners and 7% of smartphone owners have used their devices to buy an advertised product while watching TV.
The global attitude toward e-commerce has grown more accepting of the mobile devices and mobile websites that people use for mobile e-commerce. Nielsen released a study which found that 54 percent of global consumers have no reservations about using credit or debit cards to shop online on mobile devices as long as their personal information is protected.
The simple truth is that e-commerce is an indispensable part of the economy and business owners who fail to take advantage of e-commerce solutions will find themselves missing out on larger and larger shares of economic activity in their industries. There is equally compelling evidence for why business owners should be embracing mobile marketing. Business owners who have websites need to take the effort to add consumer-friendly e-commerce solutions. Doing so will boost sales by increasing visibility and giving consumers another retail channel to use at their convenience.