What is Ecommerce?
Ecommerce, electronic commerce or internet commerce, refers to the purchase or sale of goods or services using the internet, and has been around since the early 1990s.
Sites like eBay and Amazon catalysed the ‘dot com boom’ in the late 1990s, however, and have been successfully bringing us goods from the world of the internet for well over a decade.
We’ve grown accustomed to the practice of purchasing items online, returning them and repeating the process all over again. We can send gifts halfway around the world without ever even touching them and we can receive downloads faster than the time it takes to purchase them online.
Ecommerce vs. Traditional Shopping
Ecommerce is really nothing new. But what is new however, is the battle against COVID-19. The recently announced mandatory closures of non-essential retail stores in the Greater Sydney region highlights something essentially different about ecommerce when compared to brick and mortar stores: An online store is always open for business.
As many storefronts are forced to close, those who have employed ecommerce solutions on their websites or make use of online marketplaces can continue trading and use their online presence to communicate with their customers, leaving businesses reliant on physical locations ‘out in the cold’ to wait for restrictions to ease.
So, while the current restrictions are in full effect, it is a prudent time to consider whether ecommerce might be right for your business. Hiring a website creation and development expert, such as Jezweb, in Newcastle, NSW, could be a winning decision for the continued survival and growth of your business.
Increased Ecommerce Spending
Online shopping, ecommerce, has been on the rise since its inception, and, as websites become more accessible for small and medium business, it’s becoming easier and easier to get your business online.
Also, as COVID-19 lockdowns, restrictions and stay at home orders have greatly impacted our daily activities, so too has it impacted our spending habits. Online shopping participation in Australia increased significantly in the last 18 months:
- Home and garden retailers saw one of the largest increases in participation with over 1.6 million households buying from them in August and then again in November.
- More than 5.6 million households shopped online in December 2020, a 21.3% growth compared to the previous year.
GlobalData Banking and Payments Senior Analyst Shivani Gupta has gone on record to say:
“COVID-19 has changed consumer buying behavior as they are increasingly switching from offline to online channels…[the] COVID-19 crisis opened the e-commerce market to a whole new set of consumers, who were not using online channels.”
Mr. Gupta went on to add, “A significant rise in consumer preference for online channels during the pandemic coupled with the proliferation of online retailers and customised payment solutions will further drive ecommerce growth in Australia.”
Buy Now, Pay Later Facilitates Ecommerce
An increased variety of buy now, pay later options have also had a profound effect on the number of ecommerce sales within the past few years. Big names like Afterpay and Zip are available in more stores than ever and smaller competitors like Klarna and Humm are arriving at more and more locations.
These solutions are particularly popular among millennials who utilise the systems as a budgeting tool to spread payments – almost 5.8 million Australians now have some form of ‘buy now pay later’ account.
Is Your Business Ready to Capitalise?
Knowing that ecommerce and online shopping is even more on the rise during the COVID-19 pandemic, what should be the next move for your business? With over 40% of small businesses changing their operations, sales, and marketing approach over the last year, it might be time to consider changes your business can make to capitalise on this ecommerce boom. For many businesses, this has meant pivoting to ecommerce and concentrating attention on an online storefront.
The driving forces behind these changes include a general shift in consumer lifestyle catalysed by a transition to remote work, which has had a dramatic impact on the economy, employment, and income.
Improve Your Business’ Online Presence
In response, businesses are finding new ways to make the most out of their web presence says Mark Evans, owner of Crazydomains. A new website or website improvements are proving to be efficient and affordable options to adapt to the aftermath of COVID-19.
It is now easier than ever for business to get themselves online and sell their products via ecommerce. Sites like Wix and Squarespace are making functional websites attainable for all levels of business, but the best way to get your business seen online is by hiring a web site creation and development specialist, such as the team at Jezweb, in Newcastle.
What Is the Future of Ecommerce?
Ecommerce and online sales are on the rise and you naturally want your business to keep up with your competitors, but what’s the next step? Your ability to transition to ecommerce will largely be dictated by your business and what you sell, but, if you still haven’t got an established online presence, now might be the time to start doing so.
Build or Revamp Your Online Store with Jezweb
There are so many options available, but Jezweb can help you every step of the way. Whether you need a fully revamped ecommerce site or assistance with your current website, we can help you achieve your goals.
Ecommerce can make the difference between maintaining trade during lockdown and being forced to wait until restrictions ease, but can you afford to wait?
5.2 million households shopped online in April 2020 and the number is still increasing. That’s a lot of business you can tap into…if you have an online store… and that’s where Jezweb comes in.