Don't Waste Time! 10 Facts Until You Reach Your E-commerce

10 Facts about e-commerce 

10 Facts Until You Reach Your E-commerce. 

We know that e-commerce is a modern business. People in developed countries are increasingly joining the e-business sector.

Millions of people are buying and selling online with each passing minute. Our smartphones and laptops have become a marketplace. This is no less than a revolution.

So how much do you know about this market?

Here are 10 interesting facts about e-commerce. Getting to know them will help you understand the dynamics of e-commerce.

1. Michael Aldrich is the first person to start an e-commerce business. In 1979, the British inventor created the first e-commerce marketplace.

The story is that Aldrich came up with the idea while walking with his wife. He considered the journey to and from the market an inconvenience. He thought if people couldn't buy what they wanted through TV?

He tested it by connecting a modified home television to the telephone line.

He later created a system in which he advertised goods and services. At the same time, there was a call facility in a processing call center for ordering the viewers. Aldrich called his system "teleShopping". He did not know for a moment that this little experience would make billions of dollars worth of industry in the future.

2. Although e-commerce is now the most popular business model in the world. But the first e-commerce website was created by Amazon in 1994. The Amazon website went public in 1997. Initially, it started selling music and video games online. He then expanded his operations to Germany and England, where he received some orders for books. The following year, they launched home appliances, software, toys, and more. In 2002, Amazon launched web services. Interestingly, for the first seven years, Amazon did not make a profit. Amazon recorded its first annual profit in 2003.

3. Sachin Bansal and Bani Bansal are the founders of Flipkart, an Indian e-commerce company. Both are the youngest Indian billionaires. He has amassed a fortune in e-commerce over the years.

He was ranked 86th in India's list of the richest people in 2015, according to Forbes Magazine. In 2016, he was ranked 65th with an individual wealth of 1.24 billion.

Recently, Bhavesh Agarwal, founder of Ola Cabs, another e-commerce company, has been named India's youngest billionaire.

Interestingly, these young and short-lived billionaires are involved in the e-commerce business.

4. Although Amazon can be called the first regular online market. Which started selling common household items online. Amazon was not the first business to start selling online. Pizza Hut started delivering pizza through its website in 1994. Customers came to Pizza Hut's website and fill a form, which had to write the type of pizza, address, and contact number of the customer.

People were ordering pizza online before buying books from Amazon.

5. Nowadays, the trend of online shopping through smartphones is increasing. Buyers prefer to shop on their mobile phones. This is because of the mobile applications and their easy user interface. Shopping with a mobile app is easier for customers than logging in through a laptop or computer.

Nowadays, more than half of the traffic for online shopping platforms comes from mobile phones. It has become necessary to develop an interactive apps,s for e-commerce platforms. Now mobile-friendly and responsive websites and applications are being developed. Even among e-commerce platforms, an atmosphere of business competition has been created. If a buyer encounters a little problem on your website or app, they will leave your site and move to another location. Statistics show that 40% of buyers will go to a competitor, based on a bad experience. Despite all this, it is also an interesting fact that 84% of people have difficulty making payments through mobile apps,s or mobile browsers.

6. The e-commerce business as a sector is the least corrupt. Due to the use of state-of-the-art technology, e-commerce businesses register only 0.8% of fraudulent activities. This means that only 8 out of 1000 orders are fraudulent, which is very rare.

Fraud in e-commerce means that someone receives money by providing false information to the buyer about their product. Nevertheless, it is also an interesting fact that phishing has increased by 130% in the last few years. People in the e-commerce business agree that phishing is still the biggest problem in e-commerce-based businesses.

5.71% of e-commerce merchants admit that their identities have been stolen and used for fraud.

7. The use of social media for online advertising has increased significantly. But when it comes to converting online advertising into real sales, Twitter ads have the highest conversion rate of any social media platform.

According to statistics, 95% of Twitter users visit retail websites. This number is much higher than any other social media platform.

This shows that people involved in the e-commerce business should improve their presence on Twitter.

8. An interesting fact about e-commerce business is that buyers trust it.

The e-commerce business is just beginning. The people of the Second and Third Worlds still have a small share in it.

It's also amazing the fact that people have more confidence in e-commerce than in real stores.

According to a recent survey, 71% of people say they can bargain better when shopping at an online store.

9. Paying for the e-commerce business sector is a big issue of trust. New online stores are more affected by this problem. 51% of buyers leave the purchase process if they are forced to enter their credit card details. If the cash-on-delivery option is given instead, more purchasing processes are completed. However, the trend toward credit card payments is changing, and many other more secure and reliable methods are rapidly gaining ground.

10. The attitude of the online community towards e-commerce business is positive. Some survey results have been made public recently. According to the survey, 80% of Internet users have bought something from e-commerce stores. 50% of the Internet user community has made a purchase more than once.

The e-commerce business is growing rapidly all over the world. Its growth rate is extraordinary. If you are a new e-commerce seller, we advise you to be patient and honest with your customers. Hire e-commerce experts to increase sales. If you are a new buyer, buy with confidence.