Even with limited capital, it’s easy to start an online business today with the growth of online shopping. As consumers become more confident about online shopping – it is estimated that 95% of purchases will be made online by 2040 – eCommerce/online shopping opens the door to countless entrepreneurs.
And, these online sales opportunities are growing. In the United States alone, online shopping is already 10% of retail sales and is expected to grow at an annual rate of 15%.
By understanding the demographics of eCommerce users, as well as the trends driving the increase in eCommerce business revenue, it is possible to start tapping into the multi-billion dollar market.
The estimated strong growth of online shopping means that even if your company is able to ignore it today, in future you will have trouble adapting to changing purchasing behavior in a world that depends on more and more mobile devices. Read the below infographic to know The Online Shopping Statistics.