With a projected increase of $211.70bn in 2023 in online shopping in the UK, the question is, why are you not selling online?

Year on year there has been significant growth in the e-commerce sector, with an increase in 2023 of 29%. E-commerce has rapidly become one of the most vital elements of modern businesses in 2023. With a constantly growing online marketplace and an ever-increasing number of consumers shopping online, e-commerce has become a crucial part of the economy and a powerful tool for businesses of all sizes.

Why is e-commerce so effective and why aren’t you doing it?

One of the major factors of the e-commerce sector seeing significant growth is convenience for consumers. During the COVID-19 pandemic, online shopping had significantly increased with around 40% of UK shoppers reporting that they had been online shopping more compared to pre-pandemic (Statisa, Marina Pasquali, 2023). The pandemic caused a shift in B2C behaviour.

Reach (for the stars!). Having an online presence gives your business the capability of reaching an audience far greater than a physical location. With many companies and tools at your disposal, you can reach a worldwide audience allowing your business to expand and increase revenue. Not got the time to fulfil yourself? Companies like Amazon offer complete fulfilment service or you can even use Shipstation to create your own custom workflow with over 100 integrated channels.

Let’s talk about data, baby! Not only can you collect data and gain insights into consumer habits, you can use this to create informed decisions about the products you offer, new products you are looking to onboard as well as other important business decisions. There are also a variety of e-commerce research tools to allow you to analyse products already on the market to find gaps to fill.

Let’s not forget cost! E-commerce can be more effective that a bricks and mortar location, because not only are you reducing the cost that a location entails, but you are also reducing overall overheads.

In conclusion, e-commerce has become a critical component of modern business operations in 2023. With its convenience, reach, increased competition, valuable data, and cost-effectiveness, it is an essential tool for businesses looking to succeed in the digital age.