One of the most popular activities on the Web is shopping. It has much allure in it — you can shop at your leisure, anytime, and in your pajamas. The history of E-commerce dates back to the invention of the very old notion of “sell and buy”, electricity, cables, computers, modems, and the Internet. E-commerce became possible in 1991 when the Internet was opened to commercial use, and since that date, thousands of businesses have taken up residence on web sites.
Forrester’s research states that, e-commerce, which already accounts for 8 percent of all retail states in the U.S., is expected to outpace sales growth at brick-and-mortar stores over the next 5 years, reaching an incredible $370 billion by 2017. Social media seems to be a driving factor as the use of social media has been forecasted to increase and projected to account for $14 billion in sales by 2015. Additional research indicates that the driving force behind e-commerce growth is the proliferation of smartphones, tablets, and retailers’ increased investments in their online marketing channels and digital marketing budgets.
William Johnson states that 81% of the Smartphone users access the Internet on their mobile devices and the emergence of digital services is gradually proving to be the leading driver for E-commerce growth. The rise of portable mobile devices and advanced videos is increasing the desire of the consumer to spend more time researching online for price matching and ultimately on their buying decision. With the discovery of different innovative apps every day, E-commerce has matured extensively.
The E-commerce industry will continue to evolve and progress with the passage of time. Of all the upcoming trends, the only thing that will remain consistent is the need to build loyal customers through competing on value and by providing quality customer service.
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