With the global e-commerce boom showing no signs of slowing, there’s big opportunity ahead.
After all, e-commerce has changed life as we know it. The way we work, the way we live, the way we shop. It’s all changed. So much so that in 2019, global e-commerce sales exploded to $3.53 trillion, according to Statista. By 2022, that figure could be up to $6.54 trillion.
However, that may be a low-ball estimate, especially with the pandemic reshaping our world.
For example, according to IBM’s U.S. Retail Index, the pandemic just accelerated the shift from brick and mortar stores to digital by about five years, as noted by Tech Crunch. The report adds that department store growth is likely to fall 60% this year, while e-commerce is projected to grow by 20%. Wal-Mart, Target, and of course, Amazon have all benefited from the story.
Even mobile commerce growth if off the charts. By 2022, according to eMarketer, mobile commerce could drive nearly 50% of e-commerce sales, as reported by Forbes. “The consumer is ready to accept the mobile device as a mechanism to purchase products more readily today than in previous years. Influencing factors include more data storage, unlimited data plans, ease of use and consumer confidence with data protection. As a result, mobile users are adding more apps to their devices and converting more often from browser to purchaser.”