The Internet has been one of the most powerful economic tools in history, while the past two decades have served as at least some indication of what ecommerce will be able to do from a financial growth standpoint. Not only have these platforms helped to open up the private sector to a variety of new entrepreneurial spirits – they have also been pivotal in connecting economies that were once too disparate to interact. 

In the wake of all these innovations and changes has been the wave of economic globalization, which has been nothing short of a miracle for a wealth of businesses, households, nations and more. Ecommerce simultaneously offers new entrepreneurs an opportunity to break into the market without massive overhead, and grants existing ones the ability to expand their prospect pools significantly, so long as they understand how to get the job done. 

Trends in ecommerce
Multichannel Merchant recently reported that one study from Deloitte Digital projects annual ecommerce sales to expand at a rate of 14 percent between 2012 and 2016, growing to $1.4 trillion in revenues at the end of the forecast period. It should not be all that surprising given the perpetual flood of new consumers moving away from traditional purchasing channels and toward those of the digital appeal. 

The source explained that U.S. retailers have actually started to see their total ecommerce market share drop on the global scale, as it stood at 30 percent three years ago, but is expected to drop to 24 percent by 2016. This is not necessarily a sign of the market slowing down in the United States, but rather that other nations are beginning to embrace the platforms with greater fervor. 

According to the news provider, companies might want to keep their eye on global shipping and demand to truly maximize their revenue potential, while not relenting in mobile strategies for domestic commerce as well. 

How to get it right
Regardless of whether a firm is strictly ecommerce or has a combination of digital and brick-and-mortar storefronts, prospect targeting can be enhanced through a combination of sound marketing strategies and exceptional online customer service. Remember, the market is getting saturated, and firms embracing the ecommerce revolution must work hard to separate themselves from competitors, which is often best achieved through a focus on early conversions and long-term relationship management.