The use of advanced technical products such as laptop, mobile phones have given a new platform for shopping. By using internet, a person can buy any product through virtual stores like websites, mobile apps/portals which are becoming totally new perspective of shopping & proving beneficial for both the seller as well as the buyers. The term electronic retailing also be called as E-tailing where ‘E’ stands for the electronics medium since the retailing starts through the internet (electronic media). With the use of these shopping websites/portals customer can visit the virtual store and choose their preferred product in the shopping cart by seeing its pictures, features, and price. After that payment can be made by different methods mentioned by shopping site and then product would be delivered to customer’s doorstep by an associated courier company of shopping site.
The success of electronic retailing depends on various factors/components such as online portal attractiveness, appropriate revenue model and last but not least penetration over internet.
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Electronic retailing is a rapidly growing segment of e-commerce with the attractive services provided by the vendors and is expected to grow in future as well.
Electronic Retailing: Market Dynamics
The key trend of global electronic retailing market such as it doesn’t require physical infrastructure and its low maintenance cost as compared to the physical retail stores maintenance.
There are various factors driving the growth of global electronics retailing market such as increased penetration of 3G/4G internet with great speed across the globe along with the increasing market size of electronic gadget such as laptop, smart phones & tablets also the different attractive offers and services provided by different e-tailor market players are increasing its adoption across the people features include cash on delivery options, quick delivery to doorstep, attractive discounts on the products and also the quick and easy internet banking is playing great role as growth drivers for global electronic retailing market. On the other hand security concern are becoming the key restraint for the global electronic retailing market growth.
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Electronic Retailing: Segmentation
Segmentation for global electronic retailing market is done on the basis of category specific merchants & Geography. On the basis of category specific merchants, global electronic retail market is segmented into two segments such as; mass merchants and niche merchants. The websites or online portal which deals only with particular categories like apparels, electronics, baby products, healthcare products are termed as niche merchants & those merchants or online website/portals who deals with multiple categories or segments are termed as mass merchants. Obviously, the mass merchant segment has more advantage over the niche merchants as because of higher product varieties it can attract the same person again and again, it also has higher lifetime as compare to niche merchants. The market share of mass merchant segment is dominating over niche merchant segment in global electronic retailing market and is expected to follow the same trend in forecasting period as well.
Geographically, global electronic retailing is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). Among all the regions North America is the highest contributor in term of revenue in global electronic retailing market followed by Asia Pacific & it is expected that in near future Asia Pacific is going to lead this market.
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Electronic Retailing: Key Players
The key players of global electronic retailing market are ASOS.com, Amazon.com, Inc., Walmart.com, eBay Inc., Dell Inc., Alibaba.com, Futurebazaar.com, Xiaomi Inc., Bourbon & Boots, Inc. and Dafiti.com among others.