Ecommerce sales already make up nearly 10 per cent of US retail sales, a trend which is expected to accelerate. What happens in the US tends to follow around the world so if you’re planning on building an ecommerce business, now is the time to start.
In 2015 and for years to come, the ecommerce economy is expected to continue its upward trajectory and rapid growth. As an entrepreneur, this opportunity for success and sustainability is exciting, promising and intriguing.
From 2010 to 2013, total U.S. retail ecommerce sales increased from $167.3 billion to $263.3 billion. In 2014, that number jumped up to $304.1 billion, and trends suggest 2015 will top off somewhere around $347.3 billion. For perspective, total estimated retail sales in the U.S. came in around $3.19 trillion for 2014. That means ecommerce sales made up approximately 9.5 percent of total U.S. sales — and that share is expected to grow.
However, those numbers pale in comparison to the predictions financial analysts and industry experts are suggesting for the next three years. In 2016, 2017 and 2018, sources say the total projected U.S. retail ecommerce sales will come in around $392.5, $440.4, and $491.5 billion, respectively. If those numbers hold true, that will be more than a 41 per cent growth from 2015 to the end of 2018.
While the ecommerce economy is poised for significant growth in the coming months and years, you can only expect to see results if you approach it in the right way. That means focusing on the following critical tips for ecommerce success.
Sam Edwards provides 9 tips to make your ecommerce business wildly successful.