It is no secret....the majority of the world is in recession. As we look around, we see many businesses floundering, and even failing due to the havoc of recession. Shopping malls world wide have many empty spaces where stores once operated. They just could not win against this beast that is called recession. By definition it is 'a decline in GDP for two or more consecutive quarters'. Generally, it is the slowdown in economic activity.
As we look even closer at figures, there does seem to be an oddity. It seems there are businesses that are not only surviving through recession, they are actually growing stronger. The majority of these seem to be e-businesses. Yes, it seems e-business is resistant to recession. Many tend to grow as recession grows stronger.
Image courtesy: Wikipedia
Admitting or no, the world is full of cigarette smokers. World health organizations have shown people just how badly tobacco smoking is harming them, cigarettes are getting more and more expensive, regulations more and more restrictive, and in the battle to quit, someone realized that e-cigarettes were a good way to drop that bad habit. Even though recession was growing, the need to quit has sent people online to e-commerce to purchase. The sales figures have flown through the roof. It is claimed that e-cigarettes have surpasses 1 billion in sales online. Just look at these sales figures since 2008. From $20,000,000 in 2008 the sales in 2014 were estimated to $2,4 billion. This shows that recession is not hurting their sales.
Image courtesy: enggpedia.com
According to the UN International Telecommunication Union, there were 3 billion internet users in the world at the end of 2014, and that accounts for about 40% of the world's population. The selection of online sold products can be easily completed from the comfort of home or any other place. Over the years, it has become much easier to purchase online than it once was. With the many forms of e-payment processing, people are becoming more trusting in purchasing items online thus entailing their growth too.
What is it that successful e-commerce niches have in common? They adjusted their e-products, identified the audience and marketing policies and simply follow the rules of e-business.
Another one that seems to be having a strong growth even in recession is the travel industry. With the customer focused web sites, rather than its impressive looks, the representatives of Oskar Travel that is offering holiday packages have revealed that their respective web site surpass all expectations. Analysts estimate that more than half of the bookings are done online and with the positive trend.
Just these two alone show that e-business, and e-commerce within it, have a lot of potential and can grow despite recession.
For those people who are considering starting an e-business, there are some that are even more recession proof. If your e-product is relative to health, wealth and relationships, well developed one and you follow the rules of the e-business, you could see a great success and become golden.
Copyright 2012-2017 On Topic Media PTY LTD. ABN 18113479226. mobile version
Subscribe to the Business Boss email newsletter and learn about running a small business. You will find lots of useful tips and articles which will not only save you time and money, but also your sanity.