“The industry of ecommerce is a force with no investor can afford to ignore.”(Corporate communications)
Many purchasers are switching towards the online marketplace for shopping, or simply harmonize the practice into their regular shopping by searching purchases online before buying. Globally the extension and expansion of internet has considerably played its role in the transformation of trade and store transactions.
E-Commerce or electronic commerce, immensely means buying and selling or purchasing of products via internet and it’s linked with online shopping. Use of regular technological militancy by e-commerce is practiced to ensure the smooth functioning of online stores or sites, monetary transactions.
Types of E-commerce
There are different types of ecommerce, the most prevail one being B2B (business to business), B2C (business to customer),C2C (customer to customer) and mobile commerce is the platform for buying and selling of goods.
Around 40 % of worldwide internet users have bought products or goods by online means via desktop, mobile, tablet or any other online device. This measures to more than 1 billion online buyers and is project growing largely.
U.S. Mobile e-commerce
Mobile commerce growth is another exciting trend to consider in terms of e-commerce, use of smart phones and tablets in 2015, U.S. mobile commerce revenue is calculated more than 38 billion U.S. dollars.
PayPal which is owned by EBay is one of the current market leaders with more than 14 billion U.S. dollars in mobile payment volume.
According to the famous e-commerce market data
1. US founded Amazon as one of the leading e-commerce platforms globally.
2. Asian competitors are also growing constantly.
The online auction website eBay is the most famous example for C2c e-commerce which is proving a platform for merchants to sell their goods.
Upcoming bigger markets of e-commerce
1. Today ecommerce in India is growing and flourishing immensely, a survey calculated that India’s e-commerce by 2020 will be grown at an expected rate of 33%. About 20% of the population has access, it is estimated that 28 million Indian customers shop online around 2.2 % of its 1.25 billion population. Snap deal an ecommerce website store of Indiato which EBay has invested $50 million in snap deal. It is growing 30% annually.
2. China and U.S. so far have been the globally leading ecommerce markets for about 55% of global retail internet. China will grow in the next five years and would exceed $ 1 trillion in retail commerce by 2018 for more than 40% of total worldwide.
3. U.S. would maintain its position as second largest retail ecommerce market by 2018, calculating nearly for $500 billion.
4. U.K. will be able to account for $ 250billion by the year of 2018 by retail market.
“Mobile commerce and e commerce have dramatically changed due to faster and easier purchasing.”(William James)
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