With Amazon sales representing approximately 43% of the e-commerce purchases made in the United States in 2016, other e-commerce businesses must use innovative methods to stay in the game. This 43% has risen from 38% of the market share that was recorded in 2016.
While Amazon is certainly a threat to every other e-commerce website out there, a site doesn’t need to meet the same $10 billion dollar threshold to see success. There is plenty of opportunity available for businesses that are selling their products online but the time to act is now.
Competition is healthy and breeds opportunity. One of the reasons why Amazon has been able to establish such a foothold in the marketplace is due to the phenomenal growth of online shopping during the last decade. This growth continues at a rate of approximately 10% per year in the US and Amazon has been able to ride the wave of expansion successfully.
Players in the industry must be willing to jump in feet first and take fast action for long-term establishment when competing against a monopoly like Amazon. Bold action is required in order to see results in this competitive marketplace.
Don’t be afraid to step forward and take a chance. Test the market and then tweak your actions based on the results. Promote your product and use your best marketing techniques at every turn. You too can become a major player in the e-commerce industry. There are certainly enough customers out there shopping online!
If you need help promoting your e-commerce business please call us today at (416) 208-0157. We help companies grow and increase their profit margins through strategic and proven marketing strategies. Visit our site at qodemedia.com to learn more about our company and what we can do for you.