From feeble dreams to entire empires, e-commerce has come a long way and the industry is still growing at an exponential rate, exacerbated by the COVID-19 pandemic. The commerce methodology is changing rapidly as people are now changing their directions from selling in brick-and-mortar stores to online websites. Many new laws have been passed to reinforce order in the world of commerce, yet some get away with scamming people out of many thousands of dollars. The government and big-tech have made considerable changes in the infrastructure to make e-commerce more accessible and secure to the general public. Many new technologies and strategies have also made big differences in the world of e-commerce.
Many people know about the ins and outs of the e-com industry, but non-have witnessed it firsthand, like Jeremy Leung. Jeremy Leung, while completing his MBA at the University of Michigan was hired for an internship at his dream company, American Airlines in loyalty, something he knows a lot from traveling around the world in first class using miles accrued from credit card. Less than a week before the start date, the internship was cancelled due to COVID-19 pandemic. Jeremy had to return back to his home country of Australia, where he was subject to a strict two week quarantine in a hotel and there he started a small Shopify Website selling Nordic homewares. He witnessed the tsunami of e-com during Covid firsthand and even road the wave to success, quickly scaling that store to over six figures a month within 2 months. Now, Jeremy runs Ascend Ecom with co-founder Will Basta, and they manage Amazon FBA stores of 200 clients selling private label products and wholesale products and generating over half a million dollars in net profit for his clients monthly. According to Jeremy, “The future of e-commerce is looking very bright, and the advantage to early movers is even more so.”
Jeremy has shared many inside updates about the world of e-com with us, and we will be sharing these with you. He told us the biggest updates to the world of e-com are coming soon. By empowering blockchain, crypto, and metaverse, the e-com industry will take monumental shifts very soon that will impact and hopefully improve the customer experience. Technologies like Virtual Reality and Augmented Reality will change the online shopping landscape just like e-commerce changed in-store shopping forever. Customers will soon be able to visit complete outlets in the metaverse and try the products with augmented reality and brands will continue to be more creative with customer experiences. This is particularly relevant as big brands, according to Jeremy, have typically struggled in e-commerce, which is one of the reasons that Amazon has asserted such dominance online. AR is already being implemented by many brands, mainly with accessories. This technology is revolutionary, and for brands and online marketplaces, it would be wise to take advantage of it ASAP.
Making things better is very important to keep them relevant, and growing is essential in today’s world. Technology is doing exactly the same for e-commerce, but the most effective innovations can be seen in the fields of production, logistics, and supply chain as seen by companies like Amazon and Walmart. A website or platform to buy and sell is the end stop for any product. Basically, this is the customer end. But the main transactions and profits are made before the customers buy the product. China has dominated the world with its extremely cheap production value and complete web of supply roads worldwide. This is where the world of e-commerce is rising today. Almost every product is produced in China, supplied from China, and shipped from China.
The country is literally standing on the ropes of every country’s economy. But those who are perceptive and good at decision making knows that this is the country you should be doing business with, as there are low risks, low prices, and high returns. Start early, build your fortune and get ready to face the world head-on.

Author's Bio: 

Sarah Jay is an Australian content writer from Melbourne. Her amazing writing skills give a boost in her career and now she is a senior content manager. Also in her free time, she likes to design a logo for websites and businesses.