With more and more consumers preferring the online platform for the purchase of automobiles, FMCGs, and other products, the e-Commerce market has been anticipated to grow significantly with time.
Let alone in the Automotive vertical of the e-Commerce, the revenue stands pegged at US$30 billion. The revenues in this sector would be growing at US$1 billion very year from 2019 to 2025.
The gradual significant shift has been quite predominant in the developing economies like India and China. It is anticipated that the growing economy, further bolstered by a growing increase in the middle class have significantly contributed to the growth in this segment. As per many industry leaders, it has been said that the e-Commerce market trends will be growing at 21% CAGR as most of the vehicle owners will be eager to replace the old vehicles parts with new one after the completion of 30,000 miles.
At the same time, increase in the road-rage count will further push the demand for the automobile vehicle parts from the online stores.
What Will Be the Global e-Commerce Market Trends Across All Verticals Along With Automobile?
Growth of Mobile Commerce
e-Commerce will be accounting for 15% of all the sales in the Americas. Customers will be getting better options and affordable prices on the e-Commerce platform; thus, pushing the demand for the purchase to take place on numerous e-Commerce platforms. The concept that e-Commerce and physical store are two different thing will fade as consumers are able to build a greater level of trust on e-Commerce platforms for the purpose of buying and exchanging.
Mobile phones will be driving the demand with easy check-out options and faster delivery options given by the top brands in the industry.
Retail Returns: No More an Elephant in the Room
The returns from the e-Commerce purchases have been hurting the e-Commerce market all this time. It is time that the brands have adopted a strict mechanism to check this irregularity. In the year 2017, loss from the return hit US$400 Billion. The vendors have already felt the wrath and exploitation of the generous return policies. But with the coming of the age, the return policies in the e-Commerce vertical would be much more stricter and challenging to prevent exploitation.
Most of the e-Commerce platforms have been eager to adopt specific policies against those who are continuously asking for the return by scrapping their cash-on-delivery options and even the return policies. Things will change for the better with the passage of time to counter adverse return policies and bolster a better trade and business for the e-Commerce verticals.
e-Commerce has enormous potential to transform and create unlimited opportunities of growth and expansion. With the passage of time, it will be getting better and prosperous for the verticals to make use of the technology for best benefits.