By Nilda G. Thomas
There was the agriculture age, the industrial age, manufacturing age, the age of information tech nology and now e-Commerce. With just a click of a mouse, products and services can be purchased online providing the consumer the convenience of 24/7 shopping. Buying online is almost always less than in the store because there are no overhead costs, sales processing is faster and virtually free from errors and offers convenience to consumers. Statistics show consumers are shopping more online each year. In fact online retail has increased from $92.5 billion in 2005 to $162.4 bil- lion in 2010 (eMarketer).
Move over Amazon there’s a new e-Commerce company on the scene!
According to Industry Analysts, Amazon is the largest e-retailer, and the most sought after for online purchases. About 53% of the 1,002 surveyed respondents by Compete, Inc. said they made their holiday purchases with Amazon during the week of October 18. Amazon was followed by eBay.com (18%), Walmart.com (12%), Target.com (12%), Overstock.com (9%), Sears.com (5%), BestBuy.com (5%), Macys.com (4%), Toysrus.com 37 Toys ‘R’ Us Inc. Toys / Hobbies Online Sales:$515,000,000 (IR estimate) Growth:3.0% See More (3%), HomeDepot.com (2%), and Kohls.com (2%). However, when consumers shop at these stores they only receive a confirmation and a receipt.
This new e-Commerce Distribution System is the gateway for consumers to receive rebates and discounts. The new business model is such that shopping at the above mentioned stores through one’s private label e-Commerce website pays licensees 60-70% and the consumer 30%!
The past two years consumer trends show the shopping demand is not driven by brand as it used to be. In this economy consumers are moving away from brand loyalty and towards price loyalty. Consumers today are looking more for deals, discounts, incentives, free shipping and coupons. This is what sets this new business opportunity apart from these other online e-retailers.
e-Commerce businesses offer HOPE and Opportunity…HOPE = Helping Other People Excel Every- day. Having an e-Commerce business is the best decision any individual, small business, non-profit or church could invest in because it makes, common sense, business sense, and perfect sense!
Nilda G. Thomas, MBA/e-Business, CEC, CEA is a sought after trainer, coach and a Federal Reserve Bank of Chicago Money Smart Week contributor. Thomas has been featured in Hispanic Network and Black Enterprise Magazines.
Contact Nilda Thomas at 800-707-1883 ext. 4 or visit www.nildathomas.com