Did anyone notice the lack of retail store participation on Black Friday this past year? Maybe it was just me, but it seemed like there were fewer people out than I remember for the busiest shopping day of the year. It must have been the 2.2 billion spent on Cyber Monday online that made the 1.6 billion spent on Black Friday in retail stores seem like just another idle Tuesday proving more and more shoppers are making their purchases online. Statista.com reports currently, 70% of Americans are spending $85-$120 per month online or via mobile device.

What is it people are buying and why the transition to online? According to Amazon and www.upstreamcommerce.com, consumers are purchasing books and e-books, electronics, CD/DVD’s, toys and video games, personal care products, vitamins/supplements and cosmetics. Consumers are enjoying the many benefits of online shopping such as convenience, price comparison, variety, less crowds, discreet shopping and the reduction of impulse shopping. New technology is making it easy for a shopper to find exactly what they are looking for quickly, making the transaction simple, and leaving the customer satisfied with the process.

Today’s customers are of a new breed and e-commerce has changed the rules on how businesses reach out to them. Millennials (ages 15–30) are now the largest demographic in the workforce, spending millions in the e-commerce industry, and they are using mobile devices as their mode of interacting with the world. Messaging, blogging, social media, apps and on demand entertainment has provided businesses new methods of reaching out to the millennials and connecting with them. Utilizing their smart phones to assist in research for pricing, online reviews, texting friends for advice, and making the final decision to purchase with the touch of a button, today’s customer is more informed and connected than ever before. These customers crave to be heard by retailers and will go out of their way by using social media by making video reviews and blog comments about their like or dislike of a product or service. Today’s tech happy shoppers search shopping apps looking for an electronic coupon for an item a social media celebrity was just reviewing on their video blog that they can purchase with free shipping from another country using bitcoins as currency. (If you have no idea what that means, you’re not alone!) Emarketer.com predicts for 2016 that internet trends are moving towards services such as surveys, social messaging, mobile payment systems, apps and exclusive memberships communities (Netflix, Airbnb, Schwan’s, and Bonvera).

Earn money sharing your extra space with travelers.

Some of the best trending business models that have sprung out of the information age are businesses that help its consumers not only fill a need in their life, but also help people financially prosper in their own business. Businesses like Uber and Airbnb help connect customers with service providers and allow the independent operator to prosper using the tools (car or house) they already own. These business models give people the opportunity to become self-employed. Other new start up companies are leading the trend on the consumers behalf, such as Bonvera. Recently reported, Bonvera is the next thing that will give Amazon a run for their money all the while offering shoppers discounted everyday products and at the same time giving consumers the opportunity to own their own business working in communities with other entrepreneurs and profit with their conceptualization age business model. These businesses are very attractive to Millennials as well as Gen X in that the corporate environment is no longer a safe place for either generation. Robert Kiyosaki, author of Rich Dad Poor Dad, states “people clinging to job security, savings, retirement plans, and other relics will be the ones financially-ravaged from 2010–2020, the most volatile world-changing decade in history.”

Compensated Marketplaces changing e-commerce.

Looking to the future, businesses that are service driven, utilizing the many benefits of online e-commerce, using crowd-sourcing marketing strategies and accepting payments through mobile devices and giving customers the opportunity to grow a business from their home or smartphone will have no limits beyond the information age. Additionally, as businesses improve their strategies, missions and operations, customers will have more choices, better prices and a pleasant digital experience all the while having open dialog with their chosen online community. Not only will customers be satisfied, independent business owners will be doing what they love and making money, thereby creating a win-win for everyone in the future of e-commerce.

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