Ecommerce has grown into a massively lucrative market across the world and continues to rapidly grow every year. Currently, Ecommerce generates roughly $1.2 million every 30 seconds.
Because this online marketplace is so large, businesses across the globe are searching for digital marketing solutions so they can remain competitive. Not only does each online company have to compete with similar competitors in the digital realm, because of the importance of Ecommerce, companies now have to compete head to head with major corporations.
According to Market Watch, Wal-Mart’s Ecommerce sales grew 60% in themes recent quarter and now offers 67 million items on the online marketplace. Additionally, Wal-Mart reported a second-quarter net income of $2.9 billion (96 centers per share), which is actually down from $3.7 billion during the same period last year.
Also, other major players like Amazon, Apple, eBay, Google, and PayPal are leading the charge across the entire online marketplace.
So how can small businesses compete with these major big budget corporations?
As long as a company’s brand is in good standing with its customers, and has enough customers to sustain itself and grow, that’s all a business needs. It’s unrealistic to think a small market business can actually outperform a major corporation like Wal-Mart or Amazon. Unless you somehow turn your small business into a multimillion-dollar company overnight — your best bet is to do all you can to improve your company’s brand and take what you can get. By working with digital marketing companies, you’ll both be able to develop high quality digital marketing solutions that will give you a chance at both improving your brand and remaining competitive online.
Although large businesses that have billions of dollars to throw into the digital marketplace have an advantage, the Ecommerce market is growing at a healthy rate for everyone.
According to Business Insider, the National Retail Federation (NRF) expects the total online retail sales to grow between 3.7% and 4.2% in 2017. This increase will undoubtedly help all kinds of businesses from major corporations to local, small companies.
Don’t let your company’s brand suffer by not being competitive in the digital marketplace. If you are in need of web design assistance, SEO services, or just want to brainstorm digital marketing solutions, the professionals at Fan and Fuel can help you.