It is forecast that online shoppers will spend over $ 300 billion in 2016. Up from over $ 200 billion in 2011. This equates to a rise of over 60% and what is important that even at that figure, it only represents around 9% of total retail spend. If the trend continues (and there is no reason to believe that it wont) those people who master the art of online retailing are going to be very rich indeed. In fact no lesser figure than best selling author, Professor and Economist Paul Zane Pilzer has stated that ten million new millionaires will be created by 2016 and the vast majority of those will have done it by trading on the internet.
These sorts of sums seem hardly credible when you consider all the bad news that seems to be pumped out by our media everyday and yet, when you stop to think about it, isn't the whole area of internet marketing starting to gather momentum. When a company such as Facebook, that did not even exist not that many years ago can become the largest stock market flotation in U S history it is surely time to take note and start to plan accordingly.
And as the trend to online shopping gathers momentum, so there is more money to spend on improving the customer experience by providing better sites for them to shop on, better communication, and in many cases a far better service than their bricks and mortar counterparts. Therefore with such economic drivers as higher fuel costs making families think twice about venturing to the local shopping centre or mall, cash strapped retailers having to hold reduced stocks whereas the online retailer can drop ship or offer a much greater variety of choice online and the ability of consumers to review products and services online, find the best price and then buy in the comfort of their own home, are we heading for the "perfect storm" as far as the opportunities in online retailing are concerned?
Only time will tell, but on the face of it anyone who is threatened by redundancy, who is concerned that the job market may not be the place to be as far as finding an income goes, needs to be looking very seriously at the opportunities available in selling online. The main question of course is how to go about it? Starting out in an area where you have little or no prior knowledge is always fraught with danger. A good idea is to research carefully and seek to find as much as you can to find the best route forward.
Peter Robson is an accountant with over 30 years experience in the small company sector. With his business partner, Debbie Crossley he runs a company helping people set up and run e-commerce businesses. For more information go to http://www.yournichebusiness.co.uk/
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