As is well-known, ecommerce soared during the pandemic – accelerating its adoption by five years according to experts. No longer the future, ecommerce is huge business today with online sales accounting for more than a fifth of global retail transactions and quickly expanding. Customers, particularly millennials, have come to expect the choice, speed and convenience of ecommerce. Businesses both small and large face a decision: either join the ecommerce revolution by offering an online option or risk losing potential customers to those who do.
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The digital world is full of jargon and even more confusing acronyms. To put you at ease and help you get started, we defined a few of the most essential terms in ecommerce.
If you don't want to create your own ecommerce website to sell your product or service, you can tap into the enormous customer bases of third-party online marketplace like Amazon, eBay or Etsy. We explain the the pros and cons of each.
With 60% of customers expecting two-day shipping or less, successful brands have to rethink everything from where goods are produced, to how they're shipped, to where they're warehoused - and fast.
Retail trends today show that a physical retail space for digital brands comes with benefits - lower rent, plenty of options, and of course, customer foot traffic.
So far SMEs in home and garden have been slower to move online: only about 20 percent of the industry’s SMEs in Germany and the United Kingdom participate in ecommerce, compared with 40-45 percent of large companies. However, that appears to be changing with the availability of more tech tools and easy access to online marketplaces.