What is e-commerce?
E-Commerce stands for “Electronic Commerce” which means buying and selling goods and services through the Internet. E-commerce allows buyers to buy the product and services which they want from any supplier and anywhere across the globe. It involves online transactions between consumers, businesses, and an individual without the need for face-to-face interaction or any physical contact. E-commerce includes various types of transactions such as online shopping, electronic payments, digital downloads, and online booking of travel and services. It includes all types of online selling platforms like Amazon, Myntra, IndiaMart, Nykaa, Shopify, Magneto, Flipkart, Urbanic, and others.
Here are some of the key drivers of drivers of e-commerce market:
Growth in Social Media marketing:
Social media platforms become a powerful marketing tool for marketing, and many businesses use social media for promoting their brand as well as their products. It allows them to connect with a wider range of audiences and engage with them. As customers become more comfortable with online transactions, e-commerce platforms have invested in improving security and fraud prevention measures to build trust with customers.
Increasing penetration of smartphones and the Internet:
More use of smartphones and tablets has made it easier for people to shop online from anywhere and at any time. Also, the growing number of people with access to the Internet has made online shopping easier and more convenient. In recent years the use of the internet has become a very crucial part of human lives with the help of the internet and smartphones customers can now order their food from anywhere, likely Zomato, swiggy, and others. In addition, customers can use many other platforms for grocery shopping like Zepto, Dunzo, and many more.
Conclusion:
Overall, the combination of growth in social media, increasing penetration of smartphones and the internet will drive the e-commerce market growth in the future
Author's Detail:
Sneha Mali /
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Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
