eCommerce growth has been growing faster that eCommerce revenue since 2014, according to data from the eCommerce marketplace Marketplace.
In 2016, sales were up 6.3%, and in 2017, they were up 4.7%.
That’s a lot faster than the 6.7% growth rate of total eCommerce traffic, which is a better measure of the volume of eCommerce transactions.
That doesn’t mean eCommerce is a growth-hugger; it’s just that more transactions are being processed per day.
“I think it’s safe to say the industry is growing,” said Richard Warshawsky, founder of online marketplace and broker, Zappos.
“Ecommerce is still the fastest growing industry in terms of volume and that is going to continue.”
Zappo, which has more than 5,000 stores in the U.S., is currently in the process of raising its initial public offering.
Warshawawsky said Zappas goal is to take advantage of the growth and provide “great value” to investors.
The company has also partnered with eCommerce platform Alibaba, which currently owns the ecommerce marketplaces Zappom and Zappi.
Wargasky also pointed out that the e commerce industry is getting more sophisticated, and it’s becoming easier to manage and secure, making it easier for sellers to get paid.
It also has made ecommerce transactions easier to track, Warshavsky said.
That means there’s less fraud.
And it means sellers can focus on the delivery of their product and customer satisfaction.
“What we’re seeing is an increase in customer satisfaction,” Warshawnsky added.
“That’s a big factor in the growth of ecommerce.”