Online Shopping is emerging at an unbelievable speed as the COVID-19 pandemic changed consumer life overnight which is leading retailers to rethink how they conducted trade. The crisis gets over the top, which also speeds up digital innovation. We found out that according to an industry survey from Euromonitor International fielded in November, 72% of retail professionals claims the crisis advanced their digitalization plans by at least one or two years with even 21% saying it fast-forwarded plans by at least three years approximately.
You must be wondering that what is the future of e-commerce for 2021 and beyond? So several studies have done on this matter, do you know? according to data from Finaria, the COVID-19 outbreak of 2020 assist to increase the number of e-commerce users all over the globe by 9.5% year-over-year to exceed 3.4 billion. We can say that the increasing trend is set to continue during 2021 non-stop, with the figure growing another 10% year-over-year leads to 3.8 billion. By 2025, Finaria has assertively forecasted the number of worldwide e-commerce users to reach 4.9 billion.
We can say that, with the rise of e-commerce, it’s only natural to see that the number of online shoppers worldwide rises along with it. As it stands in 2021, the estimated number of digital buyers is at 2.14 billion it is getting higher and higher every day. Currently, calculatedly it makes 27.6 percent of the 7.74 billion people all over the world. So In another way, more than one out of every four people you see around you is an online shopper so, there were 900 million more, digital buyers, than there were in 2020—a 4.4 percent year-over-year increase.
We easily understand so the increase should come as no surprise, as easy getting internet connectivity penetrates the world and so online shopping becomes increasingly convenient. Exclusive we have noticed that online shopping events from time to time offering huge discounts such as Singles’ Day in China, Amazon Prime Day, Black Friday, and Cyber Monday have also played their part in spurring shoppers to engage more on online shopping bandwagon.
More likely to given the rising trend, the potential for an e-commerce store is a huge opportunity. If we give a deeper look into these e-commerce statistics would go a very long way which is helping budding e-commerce store owners better understand the direction of online shopping that makes them more potent.
In to do that, e-commerce entrepreneurs need to give some extra effort and study on look beyond general questions such as how many people shop online every day or even the number of online shoppers in their target markets and dive into specifics so do more if you want more.
Will Online Shopping Replaces Traditional Shopping?
Going deep to the matter, many studies have suggested that ecommerce may replace traditional shopping one day and in this pandemic situation it’s getting more and more obvious. In fact, if you notice that many brick and mortar stores now have their online shopping version to catch the rising shopping trend and expand to new markets to get customers all over the world. Our technologies also evolve to make online shopping a more pleasant and secure experience to make people more comfortable.
We all know, it is e-commerce that is helping so many small businesses survive everyday by providing them with access to a global market place. So many studies indicate that an e-commerce retailer who opens a physical store will eventually see online traffic everyday from local residents increase by around 50 percent within weeks of opening for so many facilities.
A digital retailer anytime can use the presence of a physical store if he has enough money to build their brand in the ‘real world’, nurturing customers’ experience of both products and the retailer itself but his customers need come to him in person which is getting harmful nowadays. So if we establishing a brand across multiple channels in this way means there is no longer a need for physical stores to be profitable every day. Instead, we can say their focus is to act as a brand touch point for their target customers or audience and provide the kind of hands-on, human interaction everyday that simply cannot exist online.
In online shopping, it is too easy to shop, with currently as most people going directly to what they really want rather than having to consider what is available so that without wasting much time they can get it. Even though you can say e-commerce often becomes business without the emotion that marketing needs as peoples don’t do interaction much. We can say that it can be too cerebral, so with people going through the motions of something they need to do, but they won’t find any heart in the process.
We can’t avoid the fact that there will always be a necessity for some shops to remain on the high street in their physical form like always. For example places like bookstores and coffee shops will always be around and we need them badly, for that providing a service that is always going to be needed.
But at the end we also can’t denied it that of the day, you can buy pretty much anything from online shopping centers nowadays, so there is technically we can say that their no need for a high street shop for most clothing or product-selling brands. However, we can’t say just because people may stop visiting shops, they will not still be in town centers visiting those remaining coffee shops with friends, walking to work, getting to the station etc. Therefore, we can say that the impulse shopping will still exist, where people are looking for enjoyments to kill time or see something that looks appealing to them inside the shop.
So in the end we can say that, online shopping will never completely replace high street shops, as there will always be a demand for going into stores. However, if we are here to talk about which will become the most popular shopping style over the coming years, it is actually hard to see how shops can compete against wave of online counterparts. Perhaps you can say that the only way for high street shops to compete is to also embrace the new era’s technology and create a shopping experience which will be different but superior.