India Showcased Fastest Growth in E-commerce Market: Ken Research
Posted on 27 November 2016 by KenResearch Consumer Products and Retail,
- China's e-Commerce market develops in spite of the monetary slowdown.
- Japan, South Korea and Australia are saturated e Commerce markets.
- Web based retailing is seen as a convenience channel for shopping.
Ken Research announced its latest production on, “Online Retailing in Asia-Pacific, 2015-2020; Market Dynamics, Retail Trends and Competitive Landscape”, which offers vast knowledge on the changing patterns and key issues inside the Asia Pacific Online Retail market. The publication incorporates analysis of the latest trends in online consumer shopping, covering the factors driving web based shopping, consumer bits of knowledge, market progression and reviews of the latest best practice in online retail site design. It likewise gives information for historic and forecast online retail sales. The report covers twelve countries in the Asia Pacific where identified the largest and fastest growing category and furthermore have also covered the competitive landscape of the significant players in the market. It has provided in-depth analysis of the latest trends, market dynamics and key innovations of ten specific categories in retail sector in major countries across the region.
The e-Commerce revenues in five Asia Pacific markets (China, Japan, South Korea, India, and Australia) outperform the consolidated figure for online retail in the US and all of Western Europe, with China and India being the two biggest and the quickest developing e-Commerce markets over the globe. These emerging countries in Asia Pacific are expected to be some of the major drivers of global e-Commerce growth going forward.
India’s online sales are expected to grow more than fivefold as the number of online buyers and per capita online spending increase drastically. India's cash-based culture had posed a huge challenge for e Commerce firms but the initiation of demonetization is going to boom the web based retailing in India, it might take certain months but is expected to grow substantially.
Japan, South Korea and Australia has all of the characteristics of the saturated e commerce market such as high Internet and broadband endorser penetration, an expansive rate of online customers, and high per capita web based spending. In any case, every market has novel attributes that e Commerce leaders working in these business sectors, or pondering about doing so, need to know and consider while creating their offerings.
Web retailing will keep on growing in prevalence among purchasers since it is seen as a convenience channel for shopping. Moreover, web retailers keep on driving deals by offering discounts and rebates which can only be used with customers' cell phone applications or via codes which can be used on the web. In this way, nonstop development of this channel is a post effect of a wide selection of products, an expanding customer base and retailers' own efforts.
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Ankur Gupta, Head Marketing & Communications