Countless articles and books have been written about the late 2000s economic crisis, it’s effects are still being felt and will continue to have a huge impact on businesses of all sizes for years to come. Everyone is scrambling for a solution, and we feel that there is an avenue that companies can go down to help them through these difficult times, and which offers a bold and exciting future.
The internet represents the single greatest expansion to the potential customer base of a business. It’s no exaggeration to say that with the power of the web a company can sell to anyone in the world at no additional cost to the company. That in itself is mind-boggling. A customer in China and a customer around the corner in Woking can have the exact same experience when purchasing from an eCommerce store. A manufacturer can find a new client in rural America, or in Argentina or Armenia. Your store or your catalogue or your factory is now accessible from any location, anywhere in the World.
The only problem a company should have is fulfilling orders on time due to excess demand.
Why so confident? A simple look at the hard facts tells the story. There are retail giants on the high-street who are teetering on the brink of bankruptcy, and plenty of less esteemed names have already gone. Why? How can a company like Sears in the US – a retail mammoth with over four thousand stores – be feeling the pinch and closing hundreds of stores, when Amazon who are barely fifteen years old are ready to expand their business into growing markets like India? How can a company like Kodak, with revenues in the billions, be losing hundreds of millions a year?
They haven’t adapted. They haven’t embraced. They cannot survive. Markets change, and so should companies.
It’s almost impossible to avoid articles about how eCommerce is growing at an incredible rate. But haven’t we been here before? What about the infamous dot-com bubble of the late 90s and early 00s? There is a difference – that boom was driven by the stock market and by venture capitalists speculating on what the next big thing would be, combined with IPO madness and outright greed.
What we have now is a very different set of circumstances. For one thing, there are hard sales figures to point to. Even in this economic depression, eCommerce is growing. That’s incredible! The reasons are universal. Everyone, no matter their economic status, their age, their demographic, their geographic remoteness… everyone loves convenience, choice and value.