As a direct impact of the mobile web, we have a tremendous rise in online sales. The fact that a shopper can browse goods while using public transport, on a break or in other similar, everyday situations is also a major factor. This is why E-commerce businesses are focusing on reaching out to customers through apps and responsive/mobile optimized website design.
The online market for both digital and retail products has been on a steady rise for the past couple of years. It took time for businesses to reach the desired level of service that the customers have set as a standard. E-commerce companies have taken the hint, stepped up their game and the rise in traffic and conversion rates reflects this change.
The stats show that opportunities are plentiful
First, let’s look at things globally. As many as 40% of all the internet users have bought a product online. That’s a bit more than one billion shoppers! UK has big numbers to show off from 2015, with online retail reaching as high as £52.25 billion. India is one of the fastest growing digital markets; the estimated numbers for 2020 are somewhere around US$110 billion. They had a 50% growth in 2015 compared to the previous year, which impacted their rising per capita income as well the growth of their gross merchandise value.
Even though the number of visits coming from mobile users is high, desktops are still in the lead when it comes to conversion rates. On average, 8.52% desktop shoppers add to cart and 2.78% actually make a purchase, compared to mobile shoppers’ 4.70% ads and 0.80% purchases.
Global e-commerce sales in 2014 stood at $1.7 trillion and they are expected to go up to $2.35 trillion by 2018. Due to this tremendous increase in interest for Ecommerce from shoppers and entrepreneurs many platforms have come up with ways to offer online services to facilitate the management and sidestepping various problems in organization, marketing and so on.
Best platforms for digital product sales
There are quite a few digital platforms out there to help you sell your digital product and we have prepared a few suggestions that stood out for us.
This platforms allows you to sell your digital product securely and with minimal hustle. The website has excellent language localization and they don’t take away percentages of your sales. SendOwl is monetized through monthly subscriptions that range between $9 and $39, which is a fair offer.
One of the rare communities that will allow you to sell your own content and find great content as well. Sellfy has a beautiful minimalistic design and will help you setup fast and start selling immediately. Their fee ranges between 2% and 5%, so if this suites you, give it a go.
Shopify is one of the most popular platforms for E-commerce and this is true for businesses focused on digital product sales, as well. They have monthly processing fees that start at $14. Their toolset is amazing and you can really manage everything with no problems, once you get to know the platform.
Best practices to keep the sales going
Load time is still the number one factor that impacts abandonment rate. This is all related to the shortening of people’s attention spans in 2016. Basically, back in 2012 a website that took 6 seconds to load lost around 40% of visitors, while in 2016 we lose 50% for the same time. This will be the prime focus of optimization this year whether through optimization, hardware upgrade and hosting improvements. Being that companies like GoDaddy are reporting beating their estimate in earnings we can see that there is a serious increase in demand.
This provokes the increase of new hosting companies on the market, which are trying to satisfy the demand at every level. The focus also falls on proper social media engagement since 38% of British online shopper consider it a prime factor for visiting an online shop. Still, brand reputation is also a big factor, since 34% of shoppers choose to visit the shops that belong to a brand they know and trust. Product personalization is also a big deal in 2016, since it can boost your sales by as much as 45%.
All in all, digital products will continue to fly off their digital shelves faster and faster in the following period. We are stills struggling to satisfy the high standards that shoppers are imposing, but the industry has made some solid steps towards achieving those goals.