Figures that show how eCommerce revolutionized how we shop
The action of acquiring a product or service is influenced by numerous elements that determine the final decision of the client. Among these elements are aspects such as location, payment facilities, opening hours, among others. As a way to simplify the purchase process to increase a company’s sales, eCommerce was born.
ECommerce or electronic commerce has become popular over the years, thus becoming one of the main sources of income for companies and, as a result of the pandemic, this system received a boost that ended up positioning it as one of the most important sales channels.
With steady and increasing growth, e-commerce is at its peak. Therefore, here we will highlight the advantages and disadvantages of this type of transaction and how users' consumption habits have changed to open the road for a new type of businesses
Why do we prefer to buy online?
The reasons that drive this type of purchase of services or products are extensive. However, it can be noted that the main reason, according to KPMG, is the ability to buy at any time of the day.
It is also important to note that platforms such as Amazon, Alibaba, Walmart or Etsy connect the customer with products that otherwise would not be available to them.
Simply put, eCommerce makes the buying process easy.
The 2020 momentum
Although the pandemic negatively affected multiple industries and markets, eCommerce received a boost that attracted the attention of investors from all over the world, seeing that more than 2.14 billion customers globally are estimated to make use of its type of systems.
Another important figure to highlight is the average number of items that each person purchases. According to Contact Pidgeon, this number saw a 60% increase after 2020, a year that also paved the way for people over 55 years of age to use eCommerce platforms as a result of quarantines, confinement and social distancing.
What is the future of eCommerce?
E-commerce platforms came not only to facilitate the customer buying process, but to revolutionize the way each company sells its products.
The changes that eCommerce has brought have been new marketing strategies, consumer studies adapted to the digital age and a globalization of sales, since the customer can buy the cheapest or best quality product from the other side of the world without having to be physically in said space.
If your intention as an investor is to be part of this revolution in the buying process, ask your financial advisor for advice on the best performing and growing platforms.
BBVA New Gen constantly monitors new trends to become the necessary link between the investor and the company.
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