In 2019 e-commerce sales across the world accounted for nearly 3.5 trillion dollars. That's a huge figure, but then again, e-commerce is a hugely lucrative marketplace. Specialists such as Barrett Shepherd believe it's only about to get bigger as time moves on.
"E-commerce is thriving," explained the founder of Simpl Fulfillment. "The stats speak for themselves. Over the years 2014 to 2017, there's been an average growth rate of 25.6 percent in e-commerce sales. That's huge, and I believe the trend is set to continue for 2020 and beyond."
The 24-year-old Texas native is in a prime position to read the tell-tale signs in e-commerce. Four years ago, he founded an e-commerce fulfillment company dedicated to helping brands outsource their shipping and automate their operations. From humble beginnings, Simpl Fulfillment now commands a seven-figure annual turnover. "Barrett added, "E-commerce has transformed the world. It's an industry that is forever evolving and in a constant state of flux. I'm confident that that future will hold even brighter, bolder, and better things for everyone who works and operates in this sector."
Barrett's opinion is one that many other specialists and leading e-commerce figures agree with. During the Covid-19 crisis, e-commerce was one of the few industries that flourished. With emerging markets such as South Africa, Brazil, China, India, and Russia all expected to play a pivotal role in the future of e-commerce, it is a fascinating time for everyone involved. Barrett explained, "By 2022, I estimate that there will be over three billion new users from various countries with access to the internet. Do the math. The potential to turn those users into customers is huge. Additionally, a lot of these emerging markets have yet to be tapped by established e-commerce businesses. The opportunities are limitless."
As someone whose company specializes in the automation of packaging and shipping, Barrett asserted how e-commerce automation is also a growing trend that is integral to the growth and success of e-commerce.
"With an increased amount of customers buying goods online, it's vital that e-commerce companies ship and deliver their products in a speedy timeframe." Companies such as Simpl Fulfillment are bridging the gap. In an extremely and increasingly competitive marketplace, shipping speed may just give you the edge you need to stand head and shoulders above the competition.
To some, Barrett may appear somewhat bullish regarding the future. As someone who has long stood at the cutting edge of e-commerce, his enthusiasm is based on facts, figures, and years of experience.