IoT (internet of things) has been, and Is one of the largest markets in the world, following a consistent rapid expansion, it is clear why things such as e-commerce can have a large impact on a country as a whole.
America, being one of the most connected countries in the world, is no stranger to e-commerce nor the impact that it has on business and the economy as a whole. We have taken the time to fully expand this topic for our readers who are interested to know more.
How E-Commerce Has Changed The Way Businesses Operate
Electronic Commerce (E-commerce) has become one of the most fundamental business transactions available. This, in turn, has had a large impact on the manner in which various organizations manage their supply chains, which is a fact that not many are aware of ( I mean, really even the supply chains are affected!)
However, it is true. Reports done in 2015, illustrate that e-commerce makes up for almost 21 percent of manufactory sales, and 14.6 percent of wholesalers. These figures may seem ridiculously low to consider. However, remember we are talking billions of dollars throughout the United States.
This, in turn, has revolutionized transactions from business to business, in terms of how trading is done. Furthermore, this change in business to business transactions has led to further changes regarding how businesses manage their profits, improve their supply chain, and meet more demands. All of this is thanks to e-commerce.
Rapidly Expanding Business To Consumer Markets
In the beginning, manufacturers would be forced to find a retail outlet to sell their product or service. However, with e-commerce the middle man is cut out, various websites, such as Amazon.com allow businesses to sell their goods directly to consumers, which in turn leads to more profit for organizations.
Business to customer e-commerce is sitting at almost 4.4 percent of all sales throughout America. To better comprehend the scale, in dollar form, this percentage would represent approximately $3.9 trillion markets (sign me up please!)
How The Increased B2C Changed Everything
B2C (business to consumer) has had a large impact on American markets, and even the way that consumers go about making purchasing decisions, which in turn has caused various businesses based throughout the Untied States, and even the world to change the way in which they approach customers.
No longer is it necessary for customers to get in their car and drive all the way to the shop. Through e-commerce giants, shoppers can sit at home, sip on a nice cold beverage and do all their purchasing decisions online. Not only does this impact the way that businesses have to focus their sales marketing, it also makes everything so much easier from a consumer perspective.
These are just the tip of the iceberg on how e-commerce plays a significant role in various markets throughout the United States. There is a diverse range of impacts that e-commerce has on consumers, markets, and businesses. Some of these impacts are positive, and some negative. However, overall, e-commerce has provided more opportunity for growth than any other form of operations can.