The eCcommerce industry has seen a lot of growth in 2020. Technology innovation, ease of scalability, increased internet penetration, and changed user habits due to COVID-19 have allowed the industry to improve experiences and compete with brick-and-mortar stores. Direct customer engagement is a top priority for brands, and in this era of broad awareness and cutthroat competition, the only way to survive is to stay ahead, identify lagging areas and catch emerging trends early on.
Why Does The eCommerce Industry See Such Huge Potential?
The e-commerce industry has seen extraordinary growth over the years. Growth must be led by industry stalwarts like Flipkart and Amazon. Increasing industrial investment, mergers and acquisitions and government policies are other reasons for the development of this industry.
The current COVID-19 pandemic situation has also given impetus to the industry. Most of the growth will be seen in the beauty and wellness, food and grocery, electronics and apparel sectors. The industry has also seen notable investments by Facebook, Google and Reliance Retail.
There are huge expectations from e-commerce business in the coming years as the trends keep changing for people as they wanted. In this article, we will discuss the trends along with what is coming next. So stay tuned to see how e-commerce is doing and how much growth we’ve seen in buying and selling products.
The future is clear as water as the e-commerce business has developed a lot. The marketing of online shopping products has been done through various websites but bloggers help through advertisements and such. Things have become easier to buy and sell goods online, consumers are more prone to immediate benefits and so are sellers. B2B has its own value that can increase by 2020 and the next 10 years. E-commerce has not only benefited buyers and sellers, but also the transportation and delivery system, and automated vehicles or robots are expected to deliver goods. Personalization is a standard in the e-commerce business, the presence of which makes a big difference between the consumer and the business. People are expecting too much after seeing this large enterprise and its reach since 2014 and we have come a long way now.
Trends shaping the future of UAE’s eCommerce ecosystem
Learn about the main factors contributing to this eCommerce growth and how you can tap into its potential for your business with Builderfly. As a self-help e-commerce platform, CWS can help you digitize, market, and scale your business globally and improve your ROI.
The eCommerce industry has seen unprecedented growth over the past 2 years. It has now become an integral part of the retail ecosystem with brands across sectors strengthening their online presence. The pandemic certainly encouraged people to embrace e-commerce, but now two years later, it has become a part of everyday life. Companies across sectors have realized the importance and growth potential of the e-commerce industry.
E-commerce benefits not only buyers and sellers but also the shipping and delivery system and goods are expected to be delivered by automated vehicles or robots. Personalization has become the norm in e-commerce businesses, its presence making a big difference between the consumer and the business. People are expecting too much after seeing this large enterprise and its reach since 2014 and we have come a long way now. E-commerce has emerged as a real game changer in a very short period. From nowhere to the largest market share holder, online retail has made a big difference in the last decade. Online retail spending in emerging markets is expanding above average thanks to eCommerce, and you can apply the same mantra to your business.
Let us discuss the reasons why the eCommerce industry is expected to grow in the future:
Improved User Experience
Website visitors will enjoy an exceptional user experience. They would prefer optimal workflows to help them in the buying process. The industry focused on UX design, merchandising, customer service, logistics, etc., and was able to be assisted by next-generation technologies.
Technology plays a significant role and has also increased the trust factor among customers. In addition, it helped ensure a better user experience for customers. A tech-savvy audience is always looking for newer features and using technology helps to reach this audience easily.
The incumbent players were more likely to reach a smaller town. This was helped by the penetration of high-speed Internet services. Revenue growth in Tier 2 and Tier 3 cities has also become a critical factor for the future of the eCommerce industry.
The increased frequency of gifting in the industry has also allowed this segment of shoppers to become addicted to online shopping. The use of technology has also helped this market adapt to the new way of shopping. It is also easy for e-commerce platforms to keep them on the platform through targeted products.
Increased use of digital payments
The future of the eCommerce industry lies in the growth of mobile commerce. According to studies, 73% of global e-commerce sales will take place on a mobile device. Online payments are witnessing massive growth in UAE, improving the future of e-commerce in Dubai. Customers find it convenient to make payments on the go. Digital payment platforms are also secure and the willingness to use these platforms is growing.
This industry has seen tremendous growth, which has made businesses opt for mobile optimization of their websites. Many companies have opted for a mobile app. You can also use location-based campaign strategies, which allow you to send customized messages based on a customer’s location.
Further investment in logistics
The e-commerce industry is aggressively increasing its reach. Over the years, they have increased access to PINs tremendously. As they expect a significant increase in sales, e-commerce companies are also expanding their warehouse space. As existing players increase their reach in smaller cities, they are also investing in their logistics channels to keep pace with this growth.
The e-commerce industry is experiencing multifaceted growth. While apparel, electronic goods, books, etc. dominated the sector, other sectors like food, FMCG, and food delivery are also expecting huge growth. Industry growth is also pulling traditional retailers, adding to the growth story.
Take Your Business Worldwide with CWS technology
An eCommerce store on CWS Technology promises 24/7 accessibility, 365 days a year, with no downtime on public holidays, closing times, bad weather conditions, etc. With the global expansion of eCommerce, merchants can now sell their products in different countries without actually opening the drawer there.
CWS Technology’s zero investment e-commerce follows the same growth path in the digital era and has fulfilled your dream of taking orders even while you sleep. You need to hire a professional eCommerce development company to help you design your website. We are experienced in designing specialized eCommerce websites and hope to partner with other e-commerce startups. Start selling anything and everything online, right from your home without the added burden of launching a website, and maximize your income with CWS. Use the power of global sales and easy management to streamline your operations and flourish as a brand – choose CWS Technology LLC.
The future is clear as water as the eCommerce business has developed a lot. The marketing of online shopping products has been done through various websites but bloggers help through advertisements and such. Things have become easier to buy and sell goods online, consumers are more prone to immediate benefits and so are sellers. B2B has its own value that can increase by 2020 and the next 10 years.