Online shopping: More lucrative than ever

I’m business and investment strategy student, Steve Sorensen. I’ve studied how companies have boomed and the people behind the scenes. I’ve also seen how different eras featured different towering industries. In today’s world, no one can discount just how massive the online industry has become. From social media platforms to app markets, it just seems that online is the way to go.

Image source: sinuatemedia.com
One of the more obvious areas of the internet that’s becoming more lucrative than ever, is online shopping. Financial experts have estimated that by 2021, the growth rate of e-commerce will balloon to a whopping $4.5 trillion.

No one can deny the convenience online shopping has to offer. A few swipes and taps has replaced walking in crowded malls all day, jostling for position for that last Gucci handbag, or having to deal with traffic going to these crowded malls.

And with delivery services finding new ways to become more efficient than ever, online shopping has grown to become one of the more powerful internet-based industries.

Image source: shopify.com
Social media has also played a pivotal role in online shopping’s success with almost 40 percent of purchases influenced by ads seen in various social media platforms.

What about you? Would you prefer online shopping or the traditional way of buying products and services? Feel free to share your thoughts with me, Steve Sorensen, in the comments section below.

Investment strategist and business blogger Steve Sorensen received his business graduate degree from Iowa State University. He likes exploring the stories behind the net worth of some of the world's most successful businesses. For more business-related reads, check out this site.

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