E-Commerce Market - Current Competitive Analysis 2024 | Amazon, Jingdong, Alibaba Group Holding Ltd., eBay, Rakuten, B2W Companhia Digital
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US-based ecommerce player Etsy has launched handcrafted goods in India
July 2018, New York-based online marketplace for handcrafted goods Etsy has launched in India. The India team, based in Delhi, aimed to help local entrepreneurs sell their unique and handcrafted goods with across the world.
Walmart acquired Flipkart, world’s largest ecommerce deal
May 2018, US retail giant Walmart Inc. picked up a 77% stake in India’s largest online retailer Flipkart. It is the country’s largest acquisition and the world’s biggest purchase of an ecommerce company. The Flipkart brand will remain distinct from that of Walmart, the companies said in a pressrelease.
Increasing the usage of internet drives the growth of E-commerce Market
Factors driving the growth of e-commerce market includes decreasing cost of communication, infrastructure, and other related cost, and also, the use of e-commerce that helps in speeding up in the transactions by removing many unwanted intermediaries. Furthermore, customer interaction, customer interaction and marketing forces boost the e-commerce market. In addition to this, women preferring online shopping and augmented impact of social networking on the society is fueling the growth of this market. Increasing internet penetration, better economic performance, rise in digital literacy, and increase in awareness about the benefits of online trading are some of the factors that are increasing the market growth.
Shopping websites permits the consumers to create multiple payment options with the help of debit and credit cards, net banking, electronic wallets, cash on delivery and crypto currency that provides convenience to users for the payment of the products. It also helps in tracking the consumer’s loyalty, as several e-commerce companies are introducing various incentives such as free shipping to customers, free exchange and return policies to grow their brand proposal and this results in the growth of e-commerce market. One of the latest trend observed in the e-commerce market is social media advertising. This not only allows advertisers to use display banner but also sponsor the content to attract the consumers. However on the flip side, mechanical failures and delay in supply chain can cause unpredictable effects on the total processes and this factors hamper the growth of e-commerce market.
North America is the largest region in E-commerce market
North America is the largest region in E-commerce market followed by Asia Pacific. In North America the growth of this market is due to high-speed internet facilities joint couled with the well-established supply chain for goods delivery, protected internet transactions and growing consumer awareness regarding the e-commerce market. Factors such as growing mobile internet usage, increasing internet penetration, increase in awareness about the benefits of online trading and trend to adopt Western culture is driving the growth of this market in Asia Pacific region.
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The major key players in E-commerce Market are Amazon, Inc., Jingdong, Alibaba Group Holding Ltd., eBay Inc., Rakuten, Inc., B2W Companhia Digital, Zalando, Groupon, Walmart and Priceline.
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