More than ever, people are becoming aware of what incredible economic value that e-commerce offers. Buying, trading, and selling online has revolutionized the way consumers obtain goods and services. It has completely changed the way that online marketplaces operate, even going so far as to close the doors of physical stores.
Ease of Access
The e-commerce market has skyrocketed in popularity due, in part, to the ease of access and convenience that it provides. Consumers are led by fleeting desires, and online marketplaces can satisfy their cravings as soon as they appear. With a few clicks of the mouse or taps of the finger, people can fulfill their wildest wish and have it shipped to their doorstep the next day.
Vendor-specific online stores can not offer a very wide range of products because of the limitations that come with doing business with a single vendor, but online marketplaces aggregate a massive amount of options from different vendors. Consumer transactions are processed by the marketplace, but each order is fulfilled by each wholesaler, which is far more efficient for buyers and sellers.
By the end of 2020, global e-commerce sales could reach $4.2 trillion. This is according to a report that was done by Shopify in early 2019. 2020 in particular gave a huge boost to online marketplaces. Even before this year, drop shipping, e-commerce, and online marketplaces were quickly rising to the top.
Then the global pandemic forced millions of people to stay at home and thousands of physical storefronts to close their doors. As a result, U.S. e-commerce sales will hit a projected $709.78 billion in 2020, or about 14.5% of total U.S. retail sales, up from $601.65 billion, or about 11% of total retail sales, since 2019. In fact, JIFU’s own e-commerce site is projected to follow a similar pattern when it launches in 2021.Jifu’s amplified business strategies include a incredible combination of e-commerce and cryptocurrency with JIFUcoin.
These incredible opportunities are being realized and actualized, thanks to a little encouragement from innovation’s biggest initiator: necessity.
The value of online marketplaces jumped through the roof this year, and JIFU is integrating our own online shop into the incredible services we already provide. This is just another example of JIFU boldly looking into the future and making it a real part of the present.