The Age of E-Commerce

In Uncategorized by World Class Deals

In the twenty-first century, the impact of the computer, the internet, and its applications has been immense and widespread throughout the world and across generations. These effects can be explicitly found in the ever-changing, growing, and exciting space of e-commerce. Of course, powerhouse sites like eBay, Amazon, and the like have been around for decades, but recently these platforms have started to dominate the larger retail space. The Millennial and Gen Z generations prefer convenience over all other variables. No longer do consumers prefer to shop for products in the physical retail spaces. Instead, they are turning to the convenience of e-commerce giants like Amazon, eBay, and other big-box retailer offering similar services. According to the U.S. Department of Commerce, e-commerce revenue as a percentage of total retail revenue has risen from 4% to 10% from 2010-2019. This statistic is not surprising given the generational gap in consumer demands and retailers adjusting for those demands. But what does this mean? Well, for starters, e-commerce is currently presenting itself as a crucial instrument in global retail sales. That paired with a technologically raised generation overtaking spending in the upcoming years, means it is time to act. As sellers, the time to invest in the e-commerce platform is now. As more and more consumers transition to e-commerce for all their needs, sellers must adapt and adjust to a new generation.