Amazon is now the world’s largest retail store, leaving mega giants like Walmart collecting dust. The change of decade has not only increased all things technology, it has also enriched the ability of almost everything that surrounds us, including market places. Long gone are the days when malls and retail stores were the only places one could satisfy the need to shop. We went from physical stimuli to digitalization. Everything that surrounds us today is, in one way or another connected to the internet. Making it virtually impossible to get anything done without an online presence.
The same applies on to market places, online stores have conquered the arena and are responsible for the largest chunk of the retail market. According to many statistics, retailers gain a higher profit percentile when they deal through a virtual market like Amazon, EBay, and Etsy, as costs are diminishing, and consumer ability is only increasing by the second.