The E-commerce Industry has grown and expanded to unbelievable proportions in recent times. Plus, with many businesses suffering heavily from the current pandemic, the shift towards taking your business online only sounds natural and tailor-made under present circumstances. Today, the e-commerce industry excels in offering an online marketplace for businesses and customers to interact, including iterations such as B2B, B2C, C2B, and C2C. It makes all the more sense to offer e-commerce education for students and equip them with the necessary knowledge for the future.
According to a recent study by Oberlo, there will be around 2.14 billion global digital buyers in 2021, around 27.2% of the worldwide population of 7.87 billion people. Furthermore, in 2021, e-commerce sales are expected to account for 18.1% of total retail sales worldwide and reach 22% by 2023. Moreover, 53% of people shop online because of free delivery, 41% do so due to the ability to use coupons and discounts, and 33% shop online because of the easy return of items. Education for Running Online Businesses
Considering the removed statistics, it would be a grand idea to start offering e-commerce education for students about the online business model and how to run businesses online. The global e-commerce industry by 2020 already amounted to $4.28 trillion, with e-retail projected to grow further and reach $5.4 trillion by 2022, as reported by Statista.com. Some of the most renowned online stores worldwide include the likes of Amazon, JD.com, Apple, Suning, Walmart, VIP.com, and Home Depot, to name a few.
With revenues far exceeding 9 billion US dollars for each mentioned online store, e-commerce education for students will prepare them and equip them with excellent knowledge to further pursue lucrative careers in this growing industry and support more incredible innovations for the coming era. Reasons for E-Commerce Education for Students You might be considering if the e-commerce industry is already doing so well, why do we need to offer e-commerce education for students? Here are some possible reasons that pique your interest.
Behavioural Changes in Buyers:
It is a known fact that buyer and their behaviours change over time. The market for selling and buying products or services is constantly in flux. Those who have studied trends worldwide know well that while the future is always uncertain, the only thing that has remained consistent throughout time and history is change. Change in the ecosystem is unavoidable and unstoppable. This is why e-commerce education for students is so important. Technology has always been a forerunner of bringing change, providing new means of doing business, and conducting trade with improved tools, software, equipment, methodologies, and approaches. Educating students now would mean that they would feel included and be able to cope with these rapid changes and stay in touch with the consumers and their preferences.
Change in Brick and Mortar:
Retail Brick and Mortar Stores offer a more physical presence to an organization or business for those who don’t know. They live in a building or structure and usually conduct their business through retail shops that a consumer or customer can visit. This also includes factory production facilities and warehouses that fit in their base of operations. But, in recent times, we have seen how the coronavirus has disrupted life and commerce worldwide.
Internet-Related Job Opportunities:
With the majority of businesses asked to shut down or carry adequate social distancing measures for the safety of their employees, many Brick and Mortar companies have shifted their store experiences online. Examples include the likes of Lammes Candies, Sara Campbell, and TYLER’S, to name a few. This is another reason why e-commerce education for students is becoming necessary in current times.
Development of E-Marketplaces:
E-marketplaces are growing worldwide, and China is way ahead of the curve. Many brands finally understand how their online presence offers them the unique ability to cater to a larger group of audiences and favourably bring international clients and interested parties from across the world. This is why e-commerce education and training are becoming essential. Other factors that add to the success story include the likes of:
- Catering to customer needs 24/7 and 365 days a year.
- Global access to your own business.
- Potential cost savings.
- Less amount of paper waste.
- Greater flexibility and improved client services.
- We communicated, engaging customers and getting valuable feedback.
- Research market opportunities and keep an eye on competitors.
Globalization of E-Commerce Implementation:
Another reason students should be allowed to learn e-commerce education online for free is the globalization of commerce. Globalization for ventures and businesses is a concept that has been introduced previously. Still, we cannot deny the fact that with excellent connectivity and improved internet services, we have closed the distance gap considerably. Now businesses are readily reaching out to clients and potential prospects across the planet.
This has also led to improvements in the supply chain, raw material procurement, outsourcing business operations, and acquiring new business partners. Online marketplaces have enabled customers and manufacturers to interact actively on e-marketplaces and business portals. Plus, international courier services like DHL, FedEx, R+ \L Carriers, UPS, and YRC Freight can offer you drop shipments right at your designated addresses and doorsteps.
Increase Demand for E-Commerce:
Business Models might come as a surprise to some, but in Africa, the e-commerce industry is booming. Thanks to growing internet penetration, an increase in the usage of smartphones, and improving cellular technology, people in Africa are showing the world how it’s done in e-commerce.
This is another reason students should offer an e-commerce course in their colleges. There are various success stories related to last year, where several women entrepreneurs faced the hardships of the COVID-19 pandemic and managed to run their businesses online from their homes and humble abodes.
The MENA (Middle East North Africa) region shows a lot of promise for more excellent opportunities in the future. There is a definite demand for e-commerce facilities in all parts of the world.
Riding the bandwagon is also the freelancer market that is quickly showing the world how people can run their side ventures and have a second source of income. There is a growing trend amongst young and aspiring looking forward to accomplishing financial independence during their middle age, and the freelancing industry offers them a way to diversify their income sources. Adequate e-commerce training would aid this process. E-Commerce Education for College Students Now that we have established the need for higher education students to learn about the e-commerce industry, here are some ways it could work out for college students keeping their best interest in mind:
Benefits of E-Commerce Education for Students:
Young learners who pay for essays in the UK would agree that business studies should infuse with some courses that focus entirely on running online ventures.
Significant Benefits of e-commerce education for college students include:
- Able to fill in job applications that focus on internet-related career paths.
- Capability to understand new pressures and challenges faced by an ever-growing landscape.
- Career orientations offer both specialist and generalist pathways.
- Develop skills needed to become managers with a broad range of responsibilities.
- Competence level to integrate business with technical knowledge acquired from various courses.
E-Commerce Oriented Curricular:
Universities and higher educational institutes can study future market trends and start offering classes or online e-commerce courses by developing curriculums that focus on teaching e-business industry-related subjects. This can include business technology, computer information systems, accounting, and the development of E-business strategies with the help of current and relevant case studies. At Dissertation Assistance, UK pupils encourage to keep track of current job opportunities and future trends. • Focused Career Paths College students can also educate to pursue dedicated and specialized career paths such as:
- E-business accounting.
- Information systems.
- E-business marketing.
- E-business finance.
- Top Educational Institutions.
Here are some educational institutions that have already taken matters into their hand and not waiting for the world to tell them what to do next:
- Bentley College: MBA Concentration in E-Business.
- Carnegie Mellon University: MSEC (Master of Science in Electronic Commerce Programs).
- Georgia State University: GEM (Global E-Commerce Master).
- University of Maryland: MBA Concentration in Electronic Commerce.
We live in an era where technology is becoming readily integrated into our lives, including private and professional circles. Hence it seems only natural to prepare future generations for the current and evident market trends that are being observed all over the globe.
The e-commerce industry has become a global phenomenon, which is why it makes sense to educate young students about this growing industry so that they are equipped and ready to drive the change and lead us to the world of tomorrow. That’s it for now.
Cheers and all the best for your future endeavours! Author Bio Elaine Vanessa currently works as the Educational Counselor at Crowd Writer UK. She is also an avid traveller by passion. During her free time, she likes to indulge in pop culture and surf the internet for all the latest developments happening in the world of tech.