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What the future holds for e-commerce?

Unless you’ve been living under a rock, chances are good that you’ve heard about e-commerce. Also known as electronic commerce, e-commerce is defined as the buying and selling of goods and services over the internet.

Over the past several years, technological advancements and changing mindsets have made e-commerce one of the fastest-growing industries in the world. From Amazon to eBay and even Netflix, the growth of e-commerce can be directly attributed to the widespread use of smart devices and rising internet penetration.

e-commerce

With all of that in mind, we invite you to join us as we take a look at what the future may hold for e-commerce.

1. An increased global presence

The internet is a miraculous invention that has brought together people from all over the world. Thanks to the connectivity offered by the information superhighway, a merchant based in Johannesburg can order goods from a Korea-based supplier to be delivered to his customer located in Amsterdam.

This connectivity and freedom have democratized entrepreneurship. Now anyone with a smart device and an internet connection can set up an online storefront selling just about anything. Hence it should come as no surprise that e-commerce businesses can expect to see a 269% growth rate by the time 2021 rolls around.

With an increasing number of entrepreneurs taking to the internet, peddling their wares mainstream retailers and service providers would do well to take note.

2. A rise in the freelance economy

The freelance economy has been a thing since the formation of civilization. The Swiss Guards that protect the pope are one such example. Back in the Renaissance era, freelance soldiers, also known as mercenaries, provided rulers with much needed extra military capability during their wars. 

Nowadays, the nature of freelance work has changed, but the core concept remains the same. Rather than pikes and spears, the freelancer of today is instead armed with a laptop or personal computer. Instead of selling his/her martial skills, they supply organizations all around the world with a variety of services.

These can range from copywriting to graphic design and even accounting. In a time where full-time employment has become much less attractive, people have turned to the internet and e-commerce as a means of getting paid.

It is estimated that by 2020, 43% of the American workforce would be made up of freelance workers. Rising globalization and the introduction of telecommuting means that organizations are now able to source for top-quality talent from all over the world. 

In fact, one should not be surprised to discover that the workplace of the future would be made up of colleagues who have never met each other.

3. The growth of the online betting industry

Contrary to popular belief, online betting is, in fact, an extremely effective way for an individual to make plenty of money quickly (and legally). Having recognized the potential for growth offered by the internet, online betting sites and casinos have also exploded onto the scene.

Whether you’re looking to put down some bets on the Kentucky Derby horse race or just understanding the odds, there are plenty of safe and reputable online betting sites out there. With the tight regulations surrounding online gambling, it should come as no surprise that most websites are more than a little motivated when it comes to keeping things above board.

Being such a massive industry in its own right, we can expect to see a rising number of casinos taking to the internet and trying to pull in the punters. Given the convenience and comfort of gambling online, we can see why this is so.

With the way things are going, it will be only a matter of time before e-commerce begins to take over the world. If you’ve got an entrepreneurial streak, this is the perfect opportunity to get out there and make your fortune.

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