There are few things harder to quantify than the number of online retailers. This is a statistic that’s ever-changing, and that’s due in part to the rapidly increasing number of shops opening on the internet.
In 2021, figures from digitalintheround.com suggest there could be as many as 24 million of these online stores. The number of internet shoppers is even higher, with around 2.14 billion of us globally.
These are some astonishing statistics, but is it really so surprising that online industries are thriving? With widespread access to technology and an ever-improving customer experience online, those who shop on the internet experience numerous benefits.
Here, we take a look at some of the most pertinent factors driving this online revolution.
Widespread access to tech
If someone were to ask us for the single biggest factor driving this shift, our answer would be increasing and widespread access to technology – specifically, the sort that allows us to get online.
According to bankmycell.com, there are 3.8 billion smartphone users in the world today. These individuals are spread across the globe, but what almost all of them have in common is access to the online world. That’s not even beginning to account for all those who own laptops, tablets, or other devices that allow them to get online.
For internet businesses, this makes their audience bigger than ever. Seventy-two percent of internet searches are now conducted by mobile users. This means almost everyone has access to the online world and the purchasing opportunities it presents.
While this tech facilitates our need to get online, the desire to do so is largely driven by the convenience of internet retail. Whether shopping for goods or services, it’s far easier to do so via a mobile or laptop than it is offline.
This applies to all manner of industries, from grocery shopping to digital marketing. Irrespective of whether users want to carry out their weekly food shop or enhance their SEO, the easiest place to find an array of retailers is online.
On that last point, the online world provides consumers with greater choice too, and this forces industries to become more competitive. An example is the online gambling sector. Not only are there innumerable providers to choose from, but they’re accessible to users regardless of their location.
This means two things: their products are available to a global audience, and every online casino is in competition. Indeed, there are so many in existence that sites like bonusfinder.dk have been specially set up to help consumers choose between them. They do so by comparing rival providers based on everything from bonus offers to payment methods.
The same is true of, for example, clothing retailers. No matter how remotely someone may live or the limited number of local options available to them, they can order from an infinite number of businesses online.
When it comes to the commercial world in 2021, it’s no longer contentious to state that the online sphere has overtaken its offline counterpart. People want the choice, convenience, and competitive pricing of buying over the internet, and online industries are booming as a result.