Prediction: E-Commerce Will Hit $2 Trillion in Sales in 2015
New data from Bigcommerce shows that the e-commerce industry is growing at a rate of 30 percent per year, leading the e-commerce solutions provider to predict the industry will reach $2 trillion in sales by 2015.
Bigcommerce’s Democratization of Ecommerce Report is based on research across the company’s more than 55,000 clients, which is combined with third-party research from Sagence, Inc. According to the report, the U.S. small and medium business e-commerce market is also growing, and is expected to exceed $100 billion in total sales in 2015.
“We’re seeing significant growth in e-commerce across all categories, but particularly with small and medium sized businesses,” said Trent Edwards, principal at Sagence, Inc. “At $100 billion, the U.S. SMB e-commerce market will top the combined worldwide annual revenues of the country’s two largest ecommerce companies, Amazon and eBay.”
The report also notes that e-commerce is the fastest growing segment within the retail industry. Plus, the data shows that small businesses have the ability to thrive in the e-commerce industry now more than ever before.
“As recently as 10 years ago, starting an ecommerce business required significant capital, as well as an army of technical, marketing and financial experts to build the necessary infrastructure,” said Eddie Machaalani, co-founder and CEO of Bigcommerce. “Today, business owners can create an online store in 30 minutes and compete against brands 100 times their size, at a fraction of the cost.”