E-Commerce: Peculiarities, Stats, and Potential
E-commerce business vertical is one of the fastest-growing nowadays, but what exactly is it, and how does it work? Let’s find out together.
Nowadays, e-commerce is one of the most profitable and fastest-developing business niches. But what is e-commerce, how exactly does it work, and what potential does this vertical have? This is what we are going to figure out in this article.
E-Commerce Definition and Peculiarities
E-commerce is a pretty large business vertical that has plenty of subdivisions, but most importantly, ecommerce is one of the fastest-growing industries in the world that can potentially work for any type of business. Online commerce has been steadily growing for the past ten years, but it was the 2020-2021 pandemic that gave the industry a significant boost and made it one of the most promising fields for investments. So, what are the most popular
e-commerce business models? Let’s see:
- B2B. Trading products or services aimed at businesses.
- B2C. Selling products or services directly to customers.
- Subscription ecommerce. Providing services or products on a recurring subscription basis, e.g., Netflix, Apple Music, etc.
- Marketplace. Offering a marketplace for multiple sellers and buyers, e.g., Amazon.
- Digital products. Trading various digital products, such as software, e-books, digital art, music, etc.
Of course, there are many more niches and opportunities for such businesses, and some e-commerce examples include live shopping events, niche online stores, freelance work, influencer marketing, and more. So, there are many opportunities and ways to earn money through an e-commerce service, which makes it worth your attention.
Common Problems with E-Commerce Business
Just like any business model, ecommerce comes with certain problems, including payment solutions, e-commerce marketing, subscription management, ecommerce website design and operation, traffic and conversion, as well as many more. Yet, at the very beginning, the most significant of all these issues are perhaps subscription management and payment solutions. You see, smooth payments with no pointless redirections and bugs increase sales. At the same time, decent subscription management will help you make a user your loyal client.
Obviously, arranging all these services can be rather frustrating since very few companies offer a full spectrum of payment orchestration and subscription management services. Luckily, Gemius CRM is one of those companies, so you can rely on it. All in all, e-commerce fulfillment can be challenging, yet if you cooperate with the right partners, it will go smoothly, and your e-commerce website will soon be in top results.
E-Commerce: Stats and Prospects
Numbers speak better than any words, so let’s take a brief look at some e-commerce business statistics:
- By 2026, the ecommerce industry is expected to reach over $8.1 trillion in sales
- The number of online stores is estimated to be about 12-24 million stores, and the number is projected to increase
- Women purchase online more often than men, with an average 7 purchases per year
- Men tend to spend more money on online shopping, with an average bill of $220 and $151 for men and women, respectively
- The most popular online marketplace is Amazon, with 3.2 billion monthly visitors in 2022
- Surpassing $3.3 trillion in sales in 2022, Asia Pacific, North America, and Western Europe are the top ecommerce markets in the world
Below, we suggest you take a look at some charts that will help you get a better understanding of how the e-commerce business vertical works.
E-Commerce: Stats and Prospects
Most Popular Online Stores
Leading Countries Based on Retail Sales Growth in 2023
As you can see, e-commerce companies are prospering now and are expected to grow in the future, which makes this field worth your attention and investment.
Germius for E-Commerce
E-commerce websites are not like other sites when it comes to operating the platform. In fact, these websites need decent subscription management, payment orchestration, as well as an intuit e-commerce service. So, as you might have already guessed, ecommerce platforms cannot properly operate without a service that will cover all the abovementioned needs. Fortunately, Germius is the very service that will provide your website with all the required functionality and bring your ecommerce platform to the top.
We offer a wide range of services — from complete payment orchestration that includes gateways and chargeback prevention services to a reliable subscription management system that will help operate your e-commerce website and increase conversion rates. Thus, if you want to start an ecommerce business, do it with Germius, and you will surely reach all your goals.
Wrapping Up
The ecommerce business is rather popular all around the globe, which makes this niche appealing for investments. So, if you have been thinking about launching an ecommerce website, it’s high time to do it now, and Genius will help you with that.
