Electronic Shopping – Retail e-commerce sales grew by around 1 trillion USD in 2020, totally ignoring the fact that the world was facing a pandemic.
The pandemic served as a boost to an already growing industry and is expected to exceed 7 trillion USD by 2025.
With geographic limitations no longer an issue, electronic shopping has made its place as the new normal around the world.
Accordingly, it is going to evolve and undoubtedly improve to keep up with changing market demands as well as serve new innovations. Here’s a summary of what’s in store in the future of electronic shopping.
Tweaking Paid Ads Approach To More Economical Solutions
Paid ads have been known to provide a quick return on investment. However, according to a report from datareportal, the cost per click for paid search ads increased by 15% in 2021, for only the second and third quarters.
For few, ad costs have risen more than five times than before. Not to mention the setbacks to paid ads due to privacy laws along with people becoming well-versed in using ad blockers.
Paid ads serve as a short-term win, but they aren’t feasible in the long term. Therefore, an alternative is necessary. One of such alternatives, that can derive long-term popularity is improving brand image and increasing brand popularity.
Versatility As Well As High Availability
Where online shopping has made life easier for buyers, it has removed barriers for sellers as well.
As a result, online stores have been popping up daily, which is evident from the number of e-commerce stores online: which ranges from a whopping 12 to 24 million.
The good news about having so many shops online is that you can find any product in any quantity.
That too without having to pay premiums on customized products. For example, SMD resistors are used in electronic equipment.
They offer the advantage of having a small size while providing higher reliability. These are surface mounted and are used in automotive, telecommunication, medical, advanced technology research instruments, and more.
However, each instrument requires a unique type of SMD resistor with its own unique dimensions and specifications.
Thankfully, you don’t have to look hard to find one that matches your requirements.
You can find over 57 unique variants of SMD resistors with a stock of more than 14,000 products just by visiting this link https://www.tme.com/us/en-us/katalog/smd-resistors_100300/.
TME electronic company is one of such brands that have, over the years, expanded its business operations to supplying electronic components to the worldwide community.
It started as a family company back in 1990 in Poland (Łódź) and has now become a supplier in over 133 countries. It manages a team of more than 560 employees in Poland and its subsidiary branches in several countries and ships over 3,700 packages a day.
Investing in Brand Image
With the incredibly high number of available shops online, the competition has become fiercer as well. This means brands must be able to stand out from the competition by building their reputation and enhancing brand image.
71% of consumers report that they are more likely to purchase from a brand they already know (Source: Global Banking and Finance).
A strong brand helps to really cash up on the short-term wins offered by paid ads. Not only that but it also enhances those boosts to lay foundations for sustainable growth.
Accordingly, you will be able to better retain customers and have them returning back for more. Not only that but you will also be able to achieve more organic growth through word of mouth and, of course, through a strong brand image.
The future of electronic shopping is going to keep on growing and will jump from 5.4 trillion USD in 2022 to more than 7 trillion USD by 2025.
Thanks to the easy availability of several unique products, buyers are more prone to buying online rather than visiting shops physically. Brands are aware of this and are investing more in improving their image rather than relying on paid ads only.
Related CTN News:
Why you need a Secret Phone Number (and how to get one)
How to Edit an iMessage in Apple iOS 16
Amazon Has Reduced Private-Label Selection Due To Weak Sales