[Mr. Ken Russell]

eCommerce stands for electric commerce and is defined as the buying and selling of goods or services over electronic systems, most commonly the internet. Beyond strictly internet based businesses, eCommerce also entails improvements in business functions in traditional retailers. It also affects many business tasks including development, marketing, communication, sales, logistics, servicing, payment, accounting and more. These innovations in existing business functions drastically improve productivity and have a dramatic impact on the economy.

In the last two decades technology has significantly changed. Computers specifically are now sleeker, faster and most importantly, more accessible. Convenience is becoming of more and more importance and contacting people throughout the world has never been easier. As a result to this, eCommerce was born.

eCommerce is international. Asia represents the largest online market in the world with the population of over 3.9 billion internet users. That’s 44.8% of all internet users in the world. Asia is an emerging market, which means that it is a nation experiencing rapid growth and industrialization. Emerging markets are excellent opportunities for North American companies as they are in constant demand for new and innovative products. Thanks to eCommerce, it has never been easier to conduct business throughout the world and reaching international customers has never been timelier.

eCommerce is also an incredible tool for new businesses as it allows them to rapidly broaden their customer base. It allows them to interact with customers and other businesses throughout the world and inexpensively market and advertise their company worldwide. Lastly in 2006 and 2007 it was estimated that 19% of all Canadian online revenues were generated by customers outside of Canada. eCommerce definitely represents the future of the global engaged marketplace.

eCommerce has also set innovation in existing jobs along with the creation of many new jobs. Did you know that the top 10 in demand jobs in 2010 did not exist in 2004? This is all because they’re all directly related to technologies that did not exist at the time. It can be assumed that in the future many more jobs, businesses, and tasks will be computer based. This will definitely impact the types of goods and services in demand in the marketplace and will continue to change how traditional tasks are completed. The internet and eCommerce also includes where business is being conducted. For example, companies looking to rationalize their operations can invest in the off-shore labor market by hiring online workers outside of their country. This works for tasks such as online customer service, record keeping, interpreting and other simple computer based tasks.

Investing in these markets allows businesses to experience the benefit of reduced expenses, specifically labor costs, while offering their customers the same services such as technological assistance or customer service. As a whole, eCommerce is an incredible tool for new businesses and it definitely represents the future of the marketplace. Thus the 21st century economy is globally engaged and is driven by innovation and technology. Businesses must be able to quickly adapt changing customer demand, which definitely agrees with the concepts of eCommerce. Also eCommerce is constantly evolving. There’s always something new or something undiscovered and there is always room for innovations and improvements. All in all eCommerce, as a result of the internet has defined this generation and will continue to define the future. Thus it is and will continue to be an important tool in our economy.

[Mr. Ken Russell]

The figures of eCommerce in the economy are impressive. Online spending is expected to double by the end of this year. By this time shoppers will be spending a great percentage of their shopping online. Millions and millions of people shop online at least once a week, motivated by the time and cost savings. The upward curve of online spending is set to continue and data intelligence company, Nielsen says eCommerce has an opportunity to weather the storm than other elements of the economy, particularly if retailers promote the web as the cheapest way to find goods in the most efficient and convenient way.

People aren't coming online just for small ticket everyday items like CDs and groceries; they are increasingly looking to buy all manner of items from clothes for everyone in the family to furniture across the entire house. The number of people spending online is increasing as is the amount that they're spending, which is why it's surprising why 52% of small businesses don't have a website. Not having an online presence means you're missing out on a huge amount of revenue. Having a presence on the web with eCommerce doesn't only increase sales, but it also reduces your costs. On a survey it stated that over 1/3rd of respondents said that their business was more profitable on account of efficiency that was saved from taking advantage of eCommerce. Opening up an online store means that you don't have to take on the cost of opening up a traditional shop. It also means that your shop is open all day, every day and is working while you're not. By using eCommerce, you can expand existing businesses or start up a new business more effectively and efficiently than ever before.

It's incredible to think that products that could be printed and hand finished from your own home can be sold across the world. This is able to happen because of eCommerce and the opportunities of selling online. The main benefits of selling online are increased sales and reduced costs. eCommerce is the best way to improve or start up a business and I'm sure you'll agree it's a step worth taking.

[Mr. Ken Russell]

Here are some comments about eCommerce from the Warrior Forum:

Originally Posted by jones115

Ecommerce grew 16 percent in the second quarter compared to a year ago, according to comScore. The research firm said the desktop spending figure was $49.8 billion, with mobile shopping adding another $4.7 billion in Q2 spending, a 24% increase year-over-year. It marked the fifteenth consecutive quarter of positive year-over-year growth and the eleventh consecutive quarter of double-digit growth.

Top-performing online product categories
The top-performing online product categories were: Apparel & Accessories, Digital Content & Subscriptions, Sport & Fitness, Consumer Packaged Goods and Home & Garden. Each category grew at least 19 percent vs. year ago.

Top-performing mobile product categories
Apparel & Accessories was the highest grossing m-commerce product category with more than $700 million in Q2 sales, followed by Computer Hardware and Digital Content & Subscriptions.

My question to Warriors is: how long will this growth last? Does eCommerce sitebuilding market saturating these days?

Originally Posted by wakeforce139

I've seen the sales figures rising, but more and more the small-timers are getting tossed aside. The big boys all realize now what it is and they are investing insane amounts in their ecommerce stores. Does that mean there isn't a niche or place for you? Of course not. There are more opportunities than before but just know the big guys are in almost every space now. If you can think of a big box store in your market than assume they are entering or already in it online.

Online shopping is still in its early teen years at best - there's a lot more growing to come. More and more people are entering the buying force that are comfortable with technology and using it as a shopping platform.

Originally Posted by lastreporter

Very true. I just had a manufacturer of one of my best selling products inform me that it soon would be selling direct to consumers, but that they wouldn't necessarily sell for less than me. That remains to be seen.

As you say, the big boys are taking over many once obscure niche markets while some small manufacturers are deciding to go direct and more or less eliminate their dealers by selling on the same platforms they do. They have seen where the sales are coming from and have decided to try it themselves This would have been unheard of a decade ago.

In order to prosper, one has to constantly find new niches and develop new marketing strategies.

Originally Posted by Andra el

I believe for a long time, even more e-commerce will be stronger/growth than today, because people's life style would be affected by E-life style. ecommerce offers simplicity through people life, so this demand to people little by little to change their life style to e -commerce, they can buy anithing via internet.

wish the best
andra

Originally Posted by NewParadigm

Ecommerce will continue to grow fast, Mcommerce will grow even faster.

Originally Posted by hamburglar

E-commerce will continue to rise. Has there ever been a point in the last decade where it has not risen?

New market growths and globalization will/have allowed many new entrants to come in with cheap cost.

As New paradigm said, Mcommerce is where the fun will be next.

Originally Posted by ReferralCandy

I think of ecommerce and m-commerce as one and the same thing. It's still people buying stuff over the internet.

It's going to keep growing. There are only 2 billion people online at the moment. This number will continue to grow until all (or almost all) human beings are online. There are entire markets and economies growing and developing in India, China, Brazil, Africa.

I suspect that we haven't even seen the start of what ecommerce is going to become. Soon we won't even call it ecommerce anymore- it'll just be regular commerce, as the divide between online/offline becomes almost redundant. Just speculating.

Originally Posted by DROPSHIPMASTER

It will continue to grow strong for some time to come. In terms of delivering products, it will only keep getting more efficient.

Originally Posted by perseystadium

I think e-commerce will continue growing but it may not faster like 1-2 years ago but mobile commerce it will be popular trend in the future than now especially SME.

Originally Posted by ronrule

eCommerce has always been the way to earn "real" money on the Internet. While affiliate marketers struggle to earn a passive income, dreaming of making a few thousand bucks a month with it, eCommerce storefront owners (who actually know what they're doing, not the ones who just import products from dropshippers and launch) are doing thousands per week in gross sales.

If you really want to make money online, don't look for the next hot affiliate program or fad WSO... launch an eCommerce site.

Originally Posted by ShaggyMax

Ecommerce is growing, yes, but it also has been accelerating. The pace of adapting to new available technology is a constant hustle.