Is E-Commerce Still Relevant In 2021?
The recent pandemic has undermined countless industries. Commercial real estate, for one, suffered losses as businesses needed to close their physical stores. But at the height of the lockdowns in 2020, one business channel has provided a silver lining for many enterprises. E-commerce was the beacon of hope for both product manufacturers and consumers trying to work around the restrictions imposed by authorities in the interest of health and safety.
So, if you’re wondering if e-commerce will still be relevant in 2021, the answer is yes. And not only will it be relevant, but it will also continue to become a dominant business platform in the coming years. With e-commerce, running an online business has never looked more promising.
Just like any other business practice, there are many business models where e-commerce can be suitable. Make sure you don’t get weighed down by choices when opening or growing your e-store. It would help to check out courses that teach the vital concepts of e-commerce. But don’t just sign up for the first course that appears on your online search results page. Always consider online reviews, such as this one on eCom Success Academy.
In case you’re still undecided, or you think it’s too late for you to take the first steps and shift towards a digital business, then you’re missing out on many opportunities. E-commerce will continue to grow as more and more consumers rely on online platforms to buy goods and services. In 2020 alone, online transactions increased by 24%, even as sales from physical stores fell by 7% due to the pandemic.
Here are the top reasons e-commerce will still be relevant in 2021 and why it’s the best time to capitalize on e-commerce trends.
- It’s Scalable
As online businesses grow, owners will want to cast a broader net to target a wider audience and increase the number of products they offer. In a traditional business, aiming for a bigger market and adding more products to your shelves would require significant investments. For one, you’d need a bigger place to operate your business and showcase your products.
This won’t be the case when it comes to e-commerce. You can easily add more product lines and target more customers without worrying about the huge costs typically linked with improving your business because e-commerce websites are highly scalable. So, the sky is the limit when it comes to online store revenues.
As a result, more software developers and vendors will find more ways to help digital entrepreneurs reach their e-commerce goals. Thus, you can expect e-commerce to continue to evolve.
- It’s Convenient
When you talk about e-commerce, people immediately think about shopping anytime and anywhere via apps. During the pandemic, people stayed in their homes, bought their goods, and ordered services with just a few taps on their mobile devices. It was shopping convenience at its finest.
In 2021, you can’t expect consumers to go back to the old ways of buying things. E-commerce has become an integral part of the public’s consciousness. Plus, more advancements in mobile technology will further improve online transactions and customer experience.
- It’s Cheaper To Operate
Doing business online can be more cost-effective compared to traditional brick-and-mortar stores. As an e-commerce business owner, you don’t need to employ tens or even hundreds of employees. You also don’t need to rent a prime spot to guarantee customer foot traffic. And in case you need to advertise your business, online marketing is hands down cheaper than paying for a billboard placement in the city or printing glossy posters.
With all the overhead costs that a typical online business can bring down, it stands to reason that most products and services sold online are cheaper. Therefore, customers can expect to benefit more. That’s why it’s safe to say that more people will patronize e-commerce when sourcing goods and services. Ultimately, online stores will become more popular and relevant.
- It’s Open For Business All Day, Every Day
Physical stores occasionally need to close for business for a few days due to a variety of reasons. Even 24/7 shops need to take a break or observe holidays. However, things are different with e-commerce. Once you put up your online store, it’s open for business every minute of the day. It means you have a better opportunity to connect with your customers and make a sale. As for consumers, they can make a purchase whenever they want, unless the online store has run out of items to sell.
E-commerce provides a two-way benefit for business owners and customers. The opportunity to buy or sell anything online will draw more people to do business online. And you’d be shortsighted not to take advantage of using a digital channel for your business.
Bottom Line
E-commerce will continue to be relevant in 2021 and beyond. If you’re an entrepreneur looking to open a business, e-commerce should be on top of your list. It’s scalable, convenient, low-cost, and open all the time. To learn more about the potential benefits of an online business, you should also consider taking reliable and well-reviewed e-commerce courses.
