The ecommerce market is undoubtedly the biggest phenomenon to emerge from the connected age. The success of online businesses such as Amazon and Alibaba, and the sharp growth in online spending in recent years, has meant more companies than ever before are taking the process of selling their goods online.⠀
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According to figures published in August 2019 by Statista, global sales for online retailers are expected to reach as much as US$6.54trillion by 2023. This will account for 20% of retail sales worldwide, demonstrating the power of ecommerce in the modern connected world. ⠀
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The growth of ecommerce has also been accelerated by the COVID-19 pandemic, with total online spending in May 2020 reaching US$82.5 billion. This 77% year-on-year increase is said to have demonstrated figures that would have been predicted in 4-6 years’ time. As shops re-open, consumers will return to physical shopping, yet we can assume that the pandemic will have impacted the habits of customers around the world and an increasing tendency to turn to ecommerce will continue to accelerate the growth of the industry.⠀
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Ecommerce represents one of the biggest global opportunities for companies to develop themselves into successful brands in a relatively short amount of time, but success relies on knowing the market as a whole and adapting to attract the widest volume of new business possible.⠀
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There’s no better way to do this than to tap into the ever-growing customer bases that exist across the world; those companies that take the time and effort to effectively localize and expertly translate their ecommerce websites to cater to a range of markets worldwide will be the ones that give themselves the greatest chance of uncovering the secret to success. OrdenTop can help you with it! Contact us at hello@ordentop.com!⠀
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