Global E-commerce Market: Overview
The global
e-commerce market is
slated to expand at a sturdy pace in the years to follow. The trend of online
sales is gaining momentum in recent times, and this factor has aided market
growth. A juggernaut of possibilities for online sales and purchase have
currently come to the fore. Moreover, shopping preferences of the masses have
also changed dramatically over the past decade. The consumers have a wider net
of choices across the online market, and this has drifted them away from the
practice of going to the physical marketplace. In this scenario, e-commerce
websites have become the central force for driving sales across online markets.
Therefore, it is safe to expect that the global e-commerce market would witness
amplified growth in the forthcoming years.
The global e-commerce market can be segmented on the basis
of hosting platform, end-user, product, and region. The growth of the global
e-commerce market is led by North America, majorly due to the humongous export
volume of the region. Several consumers goods find their origins in the US
market. A large number of people subscribe to e-commerce platforms operating
from the US.
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Global E-commerce Market: Notable Developments
The global e-commerce market is characterised by timely
developments in the domain of operations and logistics.
- Most
of the companies and e-commerce vendors prefer to host their products and
services on Shopify. Shopify accounted for a little less than three-fourth
of the total share in the global e-commerce applications market.
Furthermore, the ease of developing an e-commerce platform on Shopify has
been the key reason behind the growth of this vendor. The stellar pace of
growth pertaining to the e-commerce market can be attributed to the
expertise exercised by Shopify.
- SAP
has emerged as a key player that has overhauled the operational dynamics
of the global e-commerce market. The solutions offered by SAP are
recognized across the globe. SAP has helped several e-commerce companies
in expediting their processes and achieving sales goals.
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Some of the leading vendors in the e-commerce market are:
- Alibaba
- 360buy.com
- Sony
store
- Groupon
- iTunes
Global E-commerce Market: Growth Drivers
- Flexible
Online Selling Policies
Several companies have embraced the trend of exhibiting
their products on e-commerce websites. The volume of sales that has flown in
from such websites has persuaded new companies to venture into e-commerce
selling. There is tremendous demand for high-quality products on online
platforms, and the sellers are making ardent efforts to meet this requirement.
Furthermore, flexible online selling policies of big brands have generated tremendous
confidence amongst the buyers. These brands offer competitive prices, and easy
return options to consumers on the online market. Henceforth, the global
e-commerce market endows several opportunities for growth and development.
- Monopolistic
Growth of Amazon
Amazon has emerged as one of the largest e-commerce vendors
over the past decade. The company has followed a policy of continual expansion
of its product portfolio. Furthermore, Amazon is amongst the preferred choices
for buying home appliances as well as personal accessories. There is no
contention about the emergence of new e-commerce vendors in the years to
follow. The aforementioned assertion can be attributed to the stellar
possibilities for revenue generation that float across the online market.
E-commerce payment gateways have become a necessity for banks and online
financial entities. The use of these gateways and authentication nodes has
generated a good amount of revenues in the global market.
This study by TMR is all-encompassing framework of the
dynamics of the market. It mainly comprises critical assessment of consumers'
or customers' journeys, current and emerging avenues, and strategic framework
to enable CXOs take effective decisions.
Our key underpinning
is the 4-Quadrant Framework EIRS that offers detailed visualization of four
elements:
- Customer Experience
Maps
- Insights
and Tools based on data-driven research
- Actionable Results
to meet all the business priorities
- Strategic
Frameworks to boost the growth journey
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The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into
region-wise assessment.
The following
regional segments are covered comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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for a thorough understanding of the subject, gather precise information, and
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