August 23, 2012 by Meredith
As of this year, only 9% of commerce is handled online with sales netting to approximately $8.9 billion, yet 60% of consumers are reported to shop online at least once per quarter. By 2015 the growth of E-Commerce in the United States is projected to touch $300 Billion. If you compare current 2012 E-Commerce statistics to the projected statistics of 2016 three trends emerge: the number of consumers who shop online will increase from 167 million to 192 million (15%), average consumer spending will increase 44% and online shoppers spending will rise 45%. To break down these projected trends and transform them into tangible, applicable realities it is important to analyze why these trends are occurring.
As technology becomes increasingly integrated into every task we complete, our trust in the web increases. We see this through consumer spending statistics, online dating websites, and of course social media. 75% of consumers trust web reviews as much as personal recommendations and 34% are more likely to share purchase information on a social media site than in the commerce site. People are not only more willing to make social connections through the web, but they are also more willing to enter their personal information (including payment information) onto E-Commerce pages. Thus, increasing the number of development and web security jobs/companies, such as PayPal.
We have entered an age in which E-Commerce and digital marketing go hand in hand. Front End developers, and mobile developers must be able to adapt to this market by expanding their skill set to include consumer targeting development and E-Commerce builds. E-Commerce has also expanded because of its convenience to the user. We now have the ability to buy anything, from a hot meal to a diamond bracelet, online without getting up off the couch. Our ability to make purchases has also expanded across several mediums: social TV, mobile apps, and the web. Google+, the Facebook “like” button and Pinterest are geared towards advertising commodities and increasing global E-Commerce spending. Tech Hiring Trends reports, “The expanding integration of Internet technologies and explosive growth in E-Commerce has resulted in rising demand for technology engineers who can design and develop digital solutions.” This information is extremely relevant to our business because those E-Commerce sites require more developers. Resulting, there is now an increased demand for mobile app development, data warehouse analysts, and UX designers. Jack Welch, former CEO and chairman of General Electric, stresses the importance of E-Commerce, “Any company, old or new, that does not see this technology as important as breathing could be on its last breath.”