E-commerce may seem like a retail staple to us, but for many people the legitimacy of online businesses never became apparent. The power of brick and mortar always sent a strong message to consumers that said “this is a real business.” But what’s keeping online businesses from getting the same message across?
In 2007, online retail stores amounted to $175 billion and are projected to grow to $370 billion by 2017. Multi-million dollar acquisitions are happening now more than ever and they just keep growing while storefront are cutting back to make way. Gap, RadioShack, and Staples all plan to close down hundreds of stores in the coming years, going the same way as Blockbuster (who turned down and offer to purchase Netflix for just $50 million in 2000).
The web is not always considered to be a viable “storefront,” if you will, but as more multi-million dollar businesses make their debut from a humble home office, we see that success doesn’t demand brick and mortar. This infographic gives the rundown for what is actually going on in the world of e-commerce and what we can expect for the future.