Are you thinking of starting an online store? It could be one of the best decisions you'll ever make. The number of digital buyers worldwide is estimated to reach 1.98 billion in 2020. Online shopping accounts for more than 22 percent of total retail sales in the U.S. Increased convenience, flexibility, low startup costs and the chance to reach a global audience are just a few of the benefits of online selling.
In this digital era, buyers expect fast turnaround, 24/7 customer service and instant access to products and services. Approximately 35 percent of customers aged 18 to 29 and 35 percent of those aged 30 to 39 go shopping online at least once a week. Experts predict that global retail e-commerce sales will generate over $3.5 billion in 2020 and over $4.8 billion by 2021.
Considering these facts, it's no surprise that a growing number of companies are moving their operations online. This allows them to reach a global audience and increase brand awareness at a fraction of the cost compared to traditional methods.
The advantages of online selling go beyond time and cost savings. If you choose this path, you'll find it easier to compete with larger businesses and put your products in front of a global audience. Furthermore, you can improve your offerings and marketing efforts by using customer data. Facebook Ads, Google Adwords, and other advertising channels provide detailed insights into customer behavior, preferences, purchasing power and more.