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-
Global E-commerce Industry is channelized in six segments and markets all kinds of produce and products. They are: -
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
B.Distinctive Edge of E-Commerce Platform: -Driven with covering wide range of customers and product line covering
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
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,
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.