Technology has modernized our entire lifestyle. It has altered the way we used to eat, drink, sleep, and every part of our daily routine. Therefore, the way we shopped has also changed, and technology is now on the verge of overtaking retail business altogether. You all must be aware of the term “online shopping,” but do you know the actual statistics that how is it replacing the brick and mortar shopping? In Pakistan, e-commerce sector is growing at an accelerating velocity and several online stores such as Yayvo, Daraz and even smaller stores such as Getnow online store are growing at impressive ratios. In fact, online shopping is among the fastest growing sector all over the world. Let’s have a look at how e-commerce has changed in a few years.
Amazon hit another milestone in February 2019. It is one of the biggest online stores in the world and has been making record sales for a long time now. It didn’t lay the foundation of web buying but has been one of the first famous names around the globe. Following the footsteps, other online stores did the same and gave the world a new way of shopping. It involved a lot of innovation and creativity to bring this change, but the world is now accommodative towards it.
“The days of the internet and online shopping being ‘just a fad’ have come a long way over the years, but February’s Retail Sales report (released Monday) highlighted another of many significant milestones that the growth of online shopping has reached over the years,” The co-founder of the Bespoke Investment Group reported this in February. It reflects the overall increase in the growth of the e-commerce business.
The traffic reflects the Internet growth on the website, and it is determined with the number of clicks. The online stores used to have just 5% clicks in the 1990s that has now increased up to 12%. The month of February 2019 has been a lucky charm in the history of e-commerce business as it beat all the merchandise stores. The sales on the web are now much higher than those of brick and mortar shops.
Unsurprisingly, the statistical results reveal that online stores now rank the fourth largest sector among all. It brought $59.8 billion in February and made history. Amazon plays the most significant role in the growth of online shopping, and it is expected to grow even more. The retail sales decreased up to 0.2% in the United States in February. The buyers refrained from purchasing essential items from external stores including clothes, furniture, electronics and appliances, and food. The economists predict that retail sales will be dropped a little more in the coming months, which means, more growth in online shopping.
