Online retail has taken off! But somehow there is still doubt that exists in the minds of some retailers. There are even some cases in which retailers have gone out of business because they refused to to open up shop online. It’s projected that by 2017 online retail is expected to grow to $370 billion. Big-box retailers are slowly closing stores across the world to leverage the power of eCommerce, and cut costs on operating physical locations that are no longer attracting consumers. Popular American clothing retailer Gap is set to close 140 stores in 2015 alone. eCommerce has a bright future in the world of overall commerce. Multi-million dollar acquisitions between retailers are happening more than ever as the competition heats up. More consumers have access to internet, about 3 billion worldwide – these are all potential customers! Online business are making it rain. One of the digital giants, Amazon had a revenue of $88.99 billion in 2014. You’re making a big mistake as a merchant if you turn away from the opportunity eCommerce presents. Learn more about the move from brick and mortar to cash and clicks with the following infographic:
Source: Digital Exists
In 2012 28% of media companies thought that eCommerce was unimportant. Tweet this.
Barnes and Noble will close 223 stores through 2023. Tweet this
In 2014 digital giant Amazon had a revenue of $88.9 billion. Tweet this.
3 billion worldwide now have access to internet. Tweet this.