Potential for Rapid Growth
E-Commerce is growing at an unprecedented rate all over the globe. Thanks in part to Michael Aldrich who immortalized online shopping sites in 1979, retailing has become simple.
Not too many years ago, customers were huge fanatics of shopping in their local stores, enduring long lines, while holding on to their wobbly shopping carts. Years passed and these same customers have become little intimidated and hesitant in sharing their credit card and billing information online to cyber-shops. However, that has all changed.
Consumers may still be concerned about the security of online shopping. But more and more are inclined to buying online. Faster delivery, easier return policies, transparent billing processes, low-cost to free shipping have increased the desirability of online shopping.
In fact, to keep its growth on pace, the once-brick-and-mortar company Marshalls is opening an online retail store by 2019. This US-based company, and its sister-store TJ Maxx which already has an online platform believes that the shift will drive a significant increase in store traffic. Thus, increasing sales and profit.