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E-commerce set to capture bigger share of the retail pie

E-commerce set to capture bigger share of the retail pie

E-commerce

Shalin Shah

Shalin Shah

9 Jul 2017, 22:30 — 4 min read

The global e-commerce industry is growing by an average of 23% year over year, but India is seeing a growth of 51% as per a study. India's e-commerce revenue is expected to grow substantially from $16 billion in 2016 to $103 billion in 2020. 

E-commerce is the process of acquiring or obtaining, transferring and trading of products and services electronically by businesses and consumers without the use of paper documents. E-commerce can be categorised as – business to business (B2B), business to consumer (B2C) and consumer to consumer (C2C). C2C is also termed as electronic commerce. Social media has become an important driver of e-commerce.


E
-commerce website development employs technology that is innovative and generates e-commerce solutions required for your business. Such software assists the progress of businesses from traditional business models to e-business models and facilitates the moving of traditional offline retail businesses to the online sphere.


A company requires a website to communicate with customers, promote products and securely handle business transactions as well as the ability to efficiently deliver maximum performance to end users. Developing an e-commerce website provides better connectivity for its potential customer as that website can be accessed from anywhere via the internet. Moreover, an
 e-commerce website requires minimal capital expenditure as compared to purchase of a business premises. The difficulty of high visibility and the location with physical business premises can be bypassed with an e-commerce website.


From the customer’s point of view, e-commerce is much more convenient as they can check the directories of catalogues without any difficulty, as well make price comparisons between products comfortably.


An e-commerce website has the potential of reaching more customers by way of having search engine visibility as well as social media integration. With an e-commerce website, products can be recorded and viewed as also the pages that are visited and the items bought by the customers as well.


E-commerce
website development has generated opportunities for various companies and investors. Due to the booming nature of e-commerce, more and more resources are being directed into electronic securities, internet facilities, business plans, as well as new technologies.

E-commerce is a growing industry which is on track to take a bigger share of the retail pie with every day that goes by. It allows goods to be purchased globally in a way which was much more difficult earlier. The logistics industry is finding itself being revolutionised by the advent of e-commerce. 

To explore business opportunities, link with me by clicking on the 'Invite' button on my eBiz Card. 

 

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker. 

Image source: Freepik

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