Forrester Research, an independent technology and market research company that provides advice about technology’s impact on business and consumers, recently released estimates on ecommerce growth over the few years. As we see and read about traditional sales dropping all across the nation, ecommerce will continue to grab the lost market share. Forrester said, “When we asked where consumers would shift their retail dollars, the channels with the greatest shifts were the mass merchants, warehouse clubs, and web retailers.”
There are still some advantages to retail shopping, such as many people like the ability to see and touch what they are buying. However, that will not stop online sales from reaching as high as $196.8 Billion in 2017. Amazon.com and eBay have significantly discounted their merchandise over the past year to compete with retail stores. The National Retail Foundation forecasts that traditional retail sales will drop .3% in 2017
The many advantages to shopping online will propel ecommerce in 2018. To name a few, shoppers can compare prices on items without having to leave the comfort of their home, shopping online is less time consuming, and it saves gas money. Although ecommerce shopping is fast and easy, it is important to protect yourself.
Make purchases on sites that are well known and trusted.
Do not give out any information over the phone. There are con artists out there that watch for online purchases and then call you to confirm your information. If you order online, they do not need your credit card information again.
Make sure the site you make a purchase on is taking you to a secure page to make your purchases. Typically, you will see the beginning of the URL change to HTTPS.
Ecommerce businesses owners should understand that with more purchases, they will also see a rise in disputes. Make sure to resolve all disputes to eliminate high chargeback ratios. Some people are what I call “online shopping snakes.” They purchase items online and then dispute them to get out of paying for the item. It is important for ecommerce businesses to have clear terms and conditions to try and avoid this from happening. Having good reporting and records of all purchases is the key to ensuring your online business gets to enjoy its fair share of the flourishing ecommerce market.
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