The burgeoning e-commerce industry

The burgeoning e-commerce industry

As late as January 2020, establishing a robust online presence was something small businesses looking to grow bigger needed to start getting a handle on to prosper in the global marketplace. It presented a huge opportunity to enter new markets and online retail sales were gradually creeping up on brick-and-mortar sales the world over.Fast forward nine months later and the shift towards e-commerce has accelerated in a way that could never have been expected, outstripping all previous growth projections.Customer expectations were already changing, but now anytime, anywhere online shopping has become the standard, with convenience and transparency driving purchasing decisions. With people spending more time at home, consumer buying behaviours are changing irrevocably, and consequently the global retail industry is experiencing a pivotal shift.So, what is the impact of this exponential growth on online sales for businesses?Although it's still early in terms of knowing actual numbers, a recent study by e-marketer estimated that U.S. e-commerce sales will jump 18 percent in 2020, an unprecedented rise they put down to certain e-commerce behaviours having been 'catapulted three or four years into the future in just three or four months'.Similarly, Adobe's recent Digital Economy Index showed that e-commerce expenditure in the Middle