More and more people are choosing to shop online for goods and have them delivered to their locations, which is putting strain on big-box retailers like Wal-Mart and Sam’s Clubs and forcing the shipping industry to adapt to the e-commerce market. This is the case since it began to the present day.
There are statistics surrounding the e-commerce market. They are in the following section.
- It is projected that retail ecommerce sales in the U.S. will reach $485.27 billion in 2021.
- Retail ecommerce sales in the U.S. totaled $322.17 billion in 2016.
- Every year, the average U.S. customer spends approximately $1,800 on ecommerce transactions.
- U.S. ecommerce retail sales of physical goods via Amazon totaled $46.66 billion in 2016.
The e-commerce market in the United States has developed to the point where regular big-box stores that had been around for decades were being phased out left and right. Recently, Wal-Mart announced the closing of several Sam’s Clubs stores around the country, many speculating that it was due to e-commerce and the changing of the American buying habits.
There are statistics surrounding the customer profile and their buying preferences when it comes to e-commerce. It seems that Amazon, the largest online marketplace, grows in value each year, even moving their own past the $1 billion mark in personal income. The man, Jeff Bezos, grew Amazon from the beginning.
The statistics surrounding the customer profile and buying preferences of customers on the e-commerce market are as follows.
- 20% of U.S. online shoppers make online purchases every week.
- The top three most influential factors in determining where Americans shop online are price (87%), shipping cost and speed (80%) and discount offers (71%).
- Marketplaces account for 45% of all online sales. The most common destination is Amazon.
Amazon has many benefits, one of which is the ability for people to seek out options on the Amazon online marketplace. On an Amazon online marketplace, companies are able to put their goods on the website and the amount of preferences perhaps rivals what is in a standard big box store or a Wal-Mart.
Another possible benefit for users when they get on Amazon to shop is the ability to look at user reviews for products, thereby seeing which products are the most popular and the most well-reviewed, a process called crowd sourcing. Crowd sourcing is one way to determine (generally) the effectiveness and quality of a product.
There is one significant issue that comes with the territory of an online marketplace like Amazon is the ability to fulfill orders, another way of terming it being product fulfillment and shipping or the order fulfillment process. Shipping is an issue for an online marketplace, because shipping determines who quickly a consumer receives the good.
The statistics are that in a 2017 study, 34% of consumers said long delivery estimates were a pain, indicating a desire for same-day delivery. In a recent survey conducted by EKN in partnership with Radial, 40% of retailers report that the major challenge associated with the order fulfillment process is the high cost often associated with it.
Many customers prefer same-day delivery as long delivery processes delay the time between the payment for the good and the good arriving at the door of the person. Same day delivery is an option in some online marketplaces, as well as two-day delivery and standard delivery.
Two day delivery is often offered as part of a subscription program, such as Amazon’s Prime program, which costs a certain amount per month. There are other terms associated with order fulfillment, shipping, e-commerce and more. They are included in the following section.
Those terms are online shipping, online shipping services, make shipping simple, low cost shipping, large box shipping, how does fulfillment work, shipping flexibility, shipping needs, shipping services, top ecommerce fulfillment companies, small business order fulfillment, fulfillment industry, fulfillment services, fulfillment shipping, and more.
Shipping needs are important to a consumer as they purchase different goods online and want different shipping options to help their shipping needs. Shipping needs may go from the method of shipment, how quickly the good is shipped, and more. Shipping needs may include what time the shipment is dropped off.
The e-commerce industry has changed the way business has been done in terms of retail. The e-commerce industry has changed the way consumers shop for goods, order goods, and have goods delivered.