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Robust Rise in Global E-Commerce

I.An Introspect:

If anything is making a lot buzz globally, it ought to be “Robustness and the zillion trendsetting advancement in the world of E-Commerce”. From the humble beginning in early twentieth century to a giant trillion-dollar industry and more counting, E-commerce Industry globally has taken the world by a storm. It also has performed well bucking the huge challenges in form of-

  • Recession trends that battered even Financial Institutions, Emerging Markets and shattered even the best Economies.
  • Slump in global financial institutions and Banking Arena.
  • Fall of leading trade and financial institutions, banks etc and its effect on the leading economies.
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II.E-commerce Segments:

Global E-commerce Industry is channelized in six segments and markets all kinds of produce and products. They are: -

  • B2B: Business to Business.
  • C2C: Consumer to Consumer.
  • C2B: Consumers to Businesses.
  • M2C: Manufacturers to Consumers.
  • B2M: Business to Management
  • C2M: Consumers to Management
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Now let us ponder through the factors that paved way for this advancement in the trillion-dollar E-commerce market and its future.

III. Success Factors Powering Robust E-commerce Revolution: -

Statisticians all over the world are puzzled that despite the slowness and drastic changes that have troubled best economies have in fact not dwindled and in fact triggered a revolution none other than E-commerce boom. Curious enough now to know-how the trends that have set it none other than a revolution. Here they are: -

A. Diverse Consumer Pattern trends and utilization of latest Technology: This acts as the most promising and key success factor that has driven E-Commerce Industry. As per the stats by KPMG and Associates, today’s tech savvy and consumer centric world have led to

  • Diversified spectrum of product preferences,
  • Online purchasing, retail marketing through best tech savvy gadgets.
  • Rise in commercial advertisements, promotional spree like attracting huge discounts on vast product line drives users to a e-commerce platforms and make it huge hit.

B.Distinctive Edge of E-Commerce Platform: -Driven with covering wide range of customers and product line covering

  • Wide demographics,
  • Age spectre,
  • Diverse fashion and lifestyle preferences
  • Hospitality, Education and many other industries also included
  • Maximising Profits, Business Shares by luring customers,
  • Cost-effective strategies for both companies and direct consumers in form of providing huge discounts on every purchase, on offering huge cut down on retail prices of products, redeemable gift coupons etc.
  • Companies, Manufacturers also benefit by doing wide variety of promotional spree including telemarketing commercials, offering Product on demand strategy and reducing the shipping charges etc have been an instant hit why E-commerce has seen such a huge rise in last decade and also powering a brighter future.

C. Elimination of Middlemen and rise in Direct Sales: - With a complete tech savvy and virtual direct selling world, e-commerce medium eliminates Middlemen or third-party interference. Thus, it boosts up the manufacturers and end-user relationship. It also increases the product portfolio and gains upper hand for manufacturers to design product as per consumer preferences.

D. Utilization of Virtual Reality Environment: - Since E-commerce success largely depends on latest techno gadgets and online based sales, the Virtual 3-D era and advent of M-Commerce viz Mobile technology has bought a win-win situation for both users, manufacturers and big merchandising brands. This cutting-edge technology has also boosted up

  • Overall profits, revenues for the company
  • Age spectre,
  • Channelizing, designing, launching wide product range custom made as per the needs, desires, preference etc.
  • Increases the Customer base and boost the Brand Image, helps to detect and provide best to know the royal customers.

IV. Road Ahead for E-Commerce: -

E-commerce Industries are estimated to grow and seek a great bolster to economy during the recession and is the only platform created by humans that will never die. As speculated,

  • E-Commerce in future will be powered with AI (Artificial Intelligence) and BI (Business Intelligence).
  • It will also power a third intelligence viz CI (Customer Interface) to oversee potential End user preference and retain them in long run.
  • It will also project and analyse a complete SWOT Analysis on Brand, its competitors’ products, boost brand value in Market as well as to end consumers.
  • It will also in turn provide global e-commerce majors to expand their territory, product in lines, innovate and bring their best foot forward.

Thus, this way since it’s have very less serious implications and filled with lot positives, E-commerce Industry will even more prosper in the future AI and BI powered tech savvy era.