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E-Merchandise:: E-Commerce Opportunities For Industries

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22 views

E-Merchandise:: E-Commerce Opportunities For Industries

Uploaded by

samegenda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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E-Commerce Opportunities for Industries

1. E-merchandise:
Ecommerce is useful for selling goods and services electronically and moving items through
distribution channels, for example through Internet shopping for groceries, tickets, music, clothes,
hardware, travel, books, flowers or gifts.
2. E-finance:
Many users are using e-commerce for banking, debit cards, smartcards, banking machines,
telephone and Internet banking, insurance, financial services and mortgages on-line.
3. Stock trading:
E-commerce platform is presently used for stock trading. Investors will be able to understand
latest trends in stock market so that they can trade in securities at competitive rates.
4. Travel and tourism:
Ecommerce is bringing new business opportunities to the global travel and tourism industry.
While other types of ecommerce are gaining steam in India, online travel sales are still rising fast.
Tourism-related institutions and Internet companies are Joining to tap the potential market created
by e-commerce.
5. Healthcare:
Healthcare has emerged as one of the most progressive and the largest service sectors in India.
Rising population and increasing life expectancy has led to a high domestic demand for
healthcare products and services which cannot be demographically covered by offline retail
healthcare service providers alone.

The Growth of e-Commerce

The growth of e-Commerce has been one of the most significant trends in the world of business in recent
years.

The rapid adoption of Smartphone, easy and affordable access to technology, and the convenience of
shopping from anywhere, at any time are the major reasons for the rapid growth of online commerce. As
more and more people turn to the internet to shop for goods and services, the eCommerce industry has
experienced explosive growth. Today, we will explore the key factors that have contributed to the growth
of e-Commerce.

1. Increased Internet and Mobile Device Usage

One of the primary factors driving the growth of eCommerce is the increasing prevalence of the internet
and mobile devices.
Today, more than half of the world’s population is online, and almost three-quarters of all internet users
have completed a purchase online. In addition, mobile devices have become ubiquitous, with nearly 70%
of all internet users accessing the web through their smart phones.

These trends have made it easier for people to shop online anywhere and anytime. As a result, e-Commerce
has become an increasingly attractive option for consumers looking for convenience and flexibility.

2. The Rise of Online Marketplaces

Another key factor driving the growth of e Commerce is the rise of online marketplaces.

Platforms such as Amazon, Alibaba, and eBay have made it easier for businesses of all sizes to sell their
products online and reach a more extensive customer base. These marketplaces provide businesses with a
ready-made audience and tools for managing their online presence, shipping, and payments.

For consumers, online marketplaces offer a wide range of products at competitive prices and provide a
convenient way to compare and purchase products from multiple sellers.

3. Cross-Border e Commerce
Cross-border e Commerce (buying and selling goods and services across international borders) has become
increasingly important in recent years.

In 2020, cross-border e Commerce sales were expected to reach $1 trillion, up from $230 billion in 2014.

4. Data Analytics

The proliferation of the number of online sales channels (e.g. desktop, mobile, tablets) implies a
growing need for advertisers and retailers to understand consumer behavior across these channels
in order to maximize the benefit from online sales. Technology, and specifically data analytics,
can help in this regard as these allow for the optimization of consumer marketing, which in turn
should help drive online commerce growth further.

What is Electronic Data Interchange (EDI)?

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