According to a March 2013 Forrester report, US online retail sales will reach $370 billion by 2017, up from $262 billion in 2013.
And, for the rest of the world…
– The Asia-Pacific region’s growth is expected to be led by China, with the number of online shoppers there projected to reach almost 2.5 times the number in the USA by 2016.
– In Mexico B2C E-Commerce is forecasted to grow at double-digit rates in the years to 2015
– Brazil, Russia and India, are also projected to see their B2C E-Commerce markets boom in the coming years
– In India B2C E-Commerce is expected to see intense growth as soon as the payment environment is improved
Source: yStats.com Global eCommerce Trends Report 2013
What does that mean for small and mid-sized businesses?
In short, opportunity and challenges.
eCommerce is a great opportunity to get products to market quickly. A web store can reach customers globally, and with continued high-growth rates predicted, could result in an ever-increasingly larger portion of the revenue stream.
But, as most businesses that have launched a web store will point out – success can bring new challenges.
Many online stores are run completely separate from the offline system that handles the rest of the business. This can result in issues with inventory availability, order tracking, and customer service inquiries.
Pick accuracy, on-time shipping, and real-time tracking are critical to customer satisfaction. No longer a nice to have – advanced order fulfillment capabilities are required for online customer satisfaction.
Customers may purchase from a company across multiple channels – online, offline, by phone, fax, mail order, telephone orders, and/or from a catalog- but they expect their inquires to be handled the same, regardless of
how or where they purchased.
Find out more: http://blog.acctivate.com/is-ecommerce-still-growing/