E-commerce has set the business world alight throughout this century. For Internet users in general, search engines have revolutionised the approach they use the Internet; they have become the first level of entry to the Internet. Google, the best-known search engine, is now recognised as a verb: people say they have “Googled” a product or a company. The search engine market has additionally developed one of the most effective types of advertising on the Internet, and it is already one of the most effective ways to reach consumers.
It’s also interesting to note that wanting ahead, ecommerce expert Gary Hoover’s information projects ecommerce retail sales will eventually even out with that of brick and mortar. U.S. Department of Commerce knowledge shows that ecommerce sales currently average about 9.1% of whole retail sales. That means there are nonetheless endless opportunities for manufacturers to launch an ecommerce website and to expand their reach.
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Trends indicate that e-commerce is the wave of the future for shoppers. But digital shopping is just one piece of the broader payments ecosystem. Business Insider Intelligence’s Payments Ecosystem research report examines the payments ecosystem right now, its development drivers, and where the industry is headed.
Before examining the surveys, one of the most blatant observations about e-commerce is how the term ‘electronic’ is now used to prefix many different activities that may take place online. Terms comparable to e-banking and e-gaming are now commonly used not simply by industries but in addition by consumers, who are becoming familiar with these terms and other aspects of e-commerce. This phenomenon can be interpreted as a sign of how e-commerce has developed, and also that consumers are now a lot more aware of the varied e-commerce models than they previously were.
A products packaging at the time of transport can drastically change by the time of delivery. Not solely does the e-commerce packaging have to be durable, tamper proof and capable of handling the rigours of logistics. But additionally be able to convey the platforms brand image and values to the customer. For first time customers of an e-commerce platform, the method of packaging at the time of delivery is the first moment of truth. It may make the difference between it being their first & last purchase or converting them into a loyal customer who will return for more.
The e-commerce has transformed the way business is done in India. The Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. A lot development of the industry has been triggered by increasing internet and smartphone penetration. The ongoing digital transformation in the country is expected to increase India’s whole internet user base to 829 million by 2021 from 636.seventy three million in FY19. India’s internet economy is expected to double from US$ one hundred twenty five billion as of April 2017 to US$ 250 billion by 2020, majorly backed by ecommerce. India’s E-commerce revenue is expected to jump from US$ 39 billion in 2017 to US$ a hundred and twenty billion in 2020, growing at an annual rate of fifty one per cent, the highest in the world.