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E-commerce continues to grow exponentially, and that growth shows no signs of stopping anytime soon. E-commerce sales now top $1.5 trillion annually and are expected to grow at about 20% a year into the foreseeable future.
Of course, many of those sales come from industry giants, sites like Amazon, eBay and Sephora. These sites, among others, were voted among the most popular with consumers, according to one recent survey. Respondents to that survey pointed to some reasons for their popularity, best practice strategies like easy navigation, competitive pricing, a simple checkout process, informative product reviews and free shipping options.
For every Amazon or eBay, there are hundreds of e-commerce sites that fail every year. According to research from the Small Business Administration, less than 30% still in business 10 years after launch.
You might think newcomers would simply follow the same best practices which turned these online retailers into winners, but they don't, and so they fail. Some fail because they start with a weak business model. Others simply run out of money. But whatever the reason, e-commerce startups would be smart to follow the example of industry leaders who have discovered a winning e-commerce formula.
Here are 10 industry-leading business solutions which can put your e-commerce site on the winners' list:
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In existence for a little more than two decades, e-commerce is still in its infancy. As such, the innovative business solutions listed here are just a dim foreshadowing of what the future holds. E-commerce entrepreneurs need to monitor the most successful emerging trends, and the industry leaders who effectively launch them.