E-tailing Sales Soars as Need for Safe Shopping Goes up Amid COVID-19 Pandemic, Finds a New FMI Study

Continuous developments and advancements of e-commerce platforms incorporated with technologies such as analytics, ML, and AI enable the e-tailing market to broaden its reach. The global e-tailing market is anticipated to account for a valuation of US$ 45,561.7 Bn towards 2030 end. The market is projected to record a CAGR of 14% over the assessment period, 2020-2030. This expansion is likely to be an outcome of sturdy logistics and remarkable use of AI which presents precise consumer sentiment to recognize demand patterns.

Key Developments

In the approaching months, the majority of shoppers would prioritize safety, making solutions providers of e-tailing a vital part of the shopping experience. From luxury to grocery brands, e-tailing is set to capture the global market with social distancing becoming the new normal.

E-tailing market players are constantly centered on the growth of consumer-centric e-tailing platforms with the choice of regional language Chabot and instructions for uninterrupted assistance. The growth of intuitive e-tailing interfaces for fast navigation and searches has acted as a vital role in growing stronger for a few players.

Analytics is the driving force for the huge accomplishment of e-tailing companies that smartly cater to customer’s inclinations by structuring the gathered data to sell the best products, at the best costs, provided by best brands in a significant way.

Amazon is an early adopter of AI technology for business productivity. It has positioned AI to interpret the consumer’s willingness to purchase a particular product to allowing cashless delivery transactions. Companies are anticipated 10-12% of their complete research R&D expenditure on AI abilities and blockchain to advance market penetration, by 2030 end.

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COVID-19 Impact Analysis

COVID-19 outbreak has negatively hit the non-essential goods sales on e-tailing shopping portals. Conversely, it has also highlighted these vendor’s roles, to ascertain safe shopping by safe door-to-door delivery and permitting fewer crowds in shopping areas. Therefore, in the approaching months, coronavirus will highlight a positive insight of e-tailing vendors, encouraging their part in the overall economy.

Key Takeaways from Market Study

  • The E-Tailing solutions market is projected to touch a market valuation of around US$ 12 Bn in 2020.
  • The ability to tailor deliveries and services to the requirements of the customers has gained the e-tailing solutions market an exceptional response.
  • Based on vertical, the food and beverages category is anticipated to hold around 30% of e-tail, mainly driven by the sale of groceries, towards the end of 2030.

Regional Insights

North America is anticipated to gain an incremental $ prospect of 7.4 Bn over the conjecture period, 2020-2030. Conversely, East Asia’s incremental $ a prospect is likely to be at 10.7 Bn as the region has a growing population base. Moreover, the region will witness sizeable progress due to growing investments in promoting online shopping.

South Asia & Pacific region accounts for one-third of the global market as the population base stays uncontested. The persistent internet penetration, enhanced connectivity, and increasing pool of tech-savvy populations have made a big share in the market.

Competitive Landscape

Some of the major companies operating in the e-tailing market are Salesforce.com, Inc., Shopify Inc., Digital River, Inc., Oracle, BigCommerce Pty. Ltd., WooCommerce, eComchain, Adobe, VTEX, Elastic Path Software Inc., Skava, Sitecore, SAP, Kentico Software and Wix.com, Inc.

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