E-Commerce Platform: Why Do Businesses Need to Have One

Why Do Businesses Need to Have Their Own E-Commerce Platform
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When it comes to selling products online, businesses have two options – creating their website or selling on a marketplace

Both these options have their own set of pros and cons, and there is no one-size-fit for all solutions. However, industry experts believe that businesses with their eCommerce are better off and can do better.

Let’s check out the below-given statistics:

  • There are around 26 million eCommerce sites worldwide and with every passing day new ones are being launched.
  • In the US alone, there are more than 9.5 million eCommerce sites, and new ones are being launched every single day.
  • According to estimates, global retail e-commerce sales were around 4.9 trillion dollars in 2021.
  • In 2021, mobile e-commerce sales increased by 15.2% over the previous year to $3.56 trillion.
  • The average conversion rate for all e-Commerce companies was 1.53% in 2021.
  • It’s predicted that 95% of all purchases will be made online by 2040.
  • Only 2.86% of visitors to e-Commerce websites make a purchase.

Irrespective of your business – retail shops, restaurants, etc, if you don’t have an e-Commerce website, you are leaving money on the table.

Small businesses need to accept the reality that the world has moved online. Consumers even if they buy something offline, do check the product online. 

Believe it or not, your customers are online, and having your e-Commerce platform has many advantages. Many companies, irrespective of their size, have started hiring Laravel developers who help them develop e-Commerce platforms. 

How will an eCommerce Platform Scale up the Business Growth? 

  1. Attract new customers

The immediate benefit of having an e-Commerce platform is that you open the option to attract new customers. With e-Commerce websites, you can achieve it through the process of search engine optimization (SEO). 

As per reports, 81% of retail buyers engage online research before buying anything. It means that if you don’t show up in search results, you are losing direct customers. When you start showing on a search result, it adds incredible value to your business. 

You can only achieve this in a much better manner when you have a perfect online address – an e-Commerce platform.

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