E-commerce has translated the retail shopping experience into power shopping – quick, easy and fun. So, now users can save time and money by shopping online. But what propels e-commerce to be the way of the future?
With the increasing number of Internet users (there are over 2 billion Internet users in the world), it only makes sense that retailers venture online to improve their sales by engaging customers from across international borders. As the number of Internet users is growing so are the number of e-commerce websites and e-shopping merchandise.
Today, there are more than 10,000 e-commerce business websites around the world and in US alone B2B product sales totaled $142.5 billion in 2010. According to a research conducted by Forrester, the United States online retail industry will be worth $279 billion in 2015.
An insight into global e-commerce industry
E-commerce is growing rapidly around the globe. Merchants are now looking for big spenders and power shoppers across borders. Big shoppers place bigger orders and they shop frequently. Reports have shown that the country that produces the largest number of power shoppers is Canada which accounts for 36% of total worldwide consumers. While Europe accounts for 26%, Australia and New Zealand account for 19% of power shoppers. The Middle East accounts for 35%, which is a huge number even though it contributes only a small overall percentage of cross-border shoppers.