The deepening impact of smartphone usage on the way consumers purchase goods will define the growth trajectory of the global online retailing market, states a new report featured on MarketResearchReports.biz. The report, titled ‘Global Online Retailing, 2014-2019: Market Dynamics, Online Trends And Competitive Landscape,’ covers high-impact trends, payment preferences of online shoppers, and innovative initiatives in the global online retailing market. The report can be purchased from the official website of MRR.biz.
Although online retail has grown steadily over the last few years, its growth run is far from over considering that developing economies are only beginning to embrace e-commerce. The report says that this factor will keep the global online retailing market buoyant over the coming years, with electrical and electronic goods forming the cornerstone of online retailing worldwide. To remain competitive in this space, companies have no option but to keep introducing a slew of deals and discounts to entice more customers. The ‘showrooming’ trend will also aid the online retailing market’s growth, states the report.
Putting the phenomenal growth of mobile-based shopping into perspective, the report predicts that m-commerce will constitute nearly 50% of the global B2C e-commerce shopping by 2019. Social commerce (social media-powered commerce) will increasingly fuse with conventional e-commerce platforms, even as retailers are investing in developing omni-channel strategies for growth and competitiveness.
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The report also offers decisive insights on the payments front. Currently, cards are the most preferred payment method for consumers shopping online. In the next few years, cards and e-wallets will not entirely drop off consumers’ preference list, but will certainly take a back seat with the unprecedented emergence (or, as some opine, resurgence) of NFC payments. To stand out in an increasingly crowded marketplace, the report recommends companies in the global online retailing market to focus on offering free and fast delivers, which will prove to be the key differentiator. Given the importance of a strong delivery network in the global online retailing market, the report provides examples and recommendations of how companies can improve on this front.
To demonstrate how leading companies have spearheaded innovation in the global online retailing market, the report also carries case studies on sectoral majors such as Alibaba and Amazon. Furthermore, the report provides detailed information about the 10 fastest-growing online retailers and countries exhibiting the fastest growth in each category studied in the report.
Furthermore, the report offers a bird’s eye view of the 50 largest retail markets in the world, and supplements these insights with comprehensive forecasts for each category. Based on these trends, companies will be able to formulate more robust and failsafe growth strategies. It will also give them a clear picture of the competitive scenario so as to give their competitive strategy more teeth.
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