In 2022, the amount of business done online is projected to total $5.55 trillion worldwide. As if that wasn’t enough, there are many additional reasons why e-commerce is a non-negotiable must this year
Look, I get it. I’m an old school guy too. There is a definite charm to the idyllic brick-and-mortar storefront.
However, surviving in the marketplace today requires an e-commerce element to your business.
E-commerce is cost-effective
Firstly, a major reason why you need to be transacting online is that it is cost-effective. In fact, most businesses run their operations totally online, then move to a brick-and-mortar location — if they do so at all.
The logic is simple. There is very little overhead in e-commerce.
For example, there is:
- No rent;
- No utilities;
- Fewer employees.
Utilizing this method of doing business is not all about pinching pennies or getting your share of that $5.55 trillion. It has to do with your ability to reach.
Worldwide customer base
Most importantly, e-commerce gives you the potential to do business with new customers globally. Technology today allows us to have that opportunity without travel.
No matter what industry you’re in or what product you sell, you will always need leads. Your prospecting radius is substantially smaller if you only have a physical location.
The only reason that any business fails is because they failed to sell enough of their products fast enough to sustain them. E-commerce solves this problem.
Also, we’re well into the 21st century now.
We don’t have the flying cars and robot maids the Jetsons promised us. But you can buy a car online from beginning to end, and I’m sure Elon Musk is working on the flying cars right now.
So, if you’re not in e-commerce, you’re non-existent to the market. To find how to apply this and 10X your company in 2022, secure your seat for the next 10X Business Boot Camp.