There is only one single concept which has revolutionized the business and marketing. It has ablility to care about what you want and it will be delivered to your home just with your mouse clicks. It is nothing different from magic. It is magical world of e-commerce! When internet appeared into this world to spread and connect the dot of every corner of the world. Use of internet for sell and purchase has changed the face of economy. Now onwards, every businessman and entrepreneur will be taught lessons of e-commerce in his course in business administration.
Just look at few points to strengthen your belief about e-commerce.
- In 2009, Americans have spend $ 155.2 billion in online transactions.
- 6 % of of US sale were done online.
- 70 % of americans were online in 2009.
- $ 22.4 billion were spent on internet advertising. 10 percent of this amount spent online.
- First quarter 2010 e-commerce spending was up 14 % from first quarter spending in 2009.
- Top selling websites in 2009 were amazon.com, staples, and dell
- Amazon.com: 57 % of all web-merchant only sales were with Amazone. Amazone
grew 14 times faster than the entire e-commerce market.
- Top five only web merchants in year over year growth were:
- The average online shopper spent $170.19 on Black Friday,2009.
- E-tail is projected to overtake offline retail in year over year dollar increses by 2020.
Sales are predicted to be $624.17 billion by 2020. e-commerce is growing at five times the rate of brick and mortar retail. Since 200 e-commerce has achieved a compound annual growth rate of 19%.
- 8 % of all first quarter 2010 transactions took place online, excluding groceries, restaurant and gas purchases.
This is a 8% increase from the first quarter 2009.
- Strongest e-commerce sector is apparel, with up to 30 % of all online customers purchasing clothes every month. Among the weakest sector is online grocery shopping. Only two national chain stores, Royal Ahold and Saleway, have embraced e-commerce.
Luxury apparel has had surprising growth in spite of the rcession. More internet users are seeing shopping as
- E-commerce is made possible by shopping cart shotware called platforms. Magento is currently leading the platform pack, having just secured 22.2 million dollars in funding. Magento has been downloaded over 1.5 million times and supposrts 60,000 online merchants.
- British inventor Michael Aldrich is credited with inventing online shopping in 1979, when he used
a telephone line to connect a modified television to a computer that recorded transaction.
Find the list of Major events about e-commerce in next post here Milestones in e-commerce
- Amazone didn’t actually report a profit untill 2002.
- The next big frontier is m-commerce or mobile commerce.
- Online small business account for 7% of all U.S. shopping and is expected to grow to 20 % by 2014.