E-commerce sales world wide is expected to more than double it’s size in four years time. This eminent growth will off course serve the industry well. But, as always in times of rapid growth and change, some will thrive more than others.
The rapid growth of e-commerce will lead to tougher times for traditional, physical stores, which is expected to lose ground they say. But – how about the competition within the specific growing industry of e-commerce then? This topic is much less discussed and is therefore interesting to think about.
Growth will serve the industry well
The expected growth will, of course, serve the e-commerce industry very good as a whole. Many new e-shops will appear, do well and some of them will do it really well. Naturally, many established e-shops also will thrive under those circumstances.
Who will succeed best?
Some e-shops will for sure gain a lot more from this opportunity than others. So, which will be the biggest winners during these hay days and why? Here we will very shortly try to explain how we see it:
Times of expansion will naturally probably also lead to a lot of change. A booming industry will, like a magnet, attract not only capital but also new ideas, habits and new ways of solving things.
Methods are (and will) constantly be changing. Maybe also in an accelerating pace. Take a look at today’s many different methods of end-client delivery for example, which has increased sharply only in a short period of time. Some of the most frequently used and efficient methods today did not exist five years ago. Furthermore, some of today’s established marketing and payment tools barley existed not too long ago eighter.
This quickly brings us to the point of what we think that e-shop owners should be aware of and keep an eye on, in order to gain the most of a growing industry. Namely: technology and innovation.
There is no need to be first, but it is important to always be innovative and technically competitive at the right time. More exactly, that right time is when your clients start to demand such services and that can sometimes happen more or less over a night. So, one big key to success would probably be to have the technical knowledge, follow its trends and be ready when the right time comes.
Based on data from: