Why E-commerce Is Poised for Extraordinary Returns in APAC The year 2019 will see the industry burgeoning by leaps and bound
By Shelly Luthra •
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In recent few years, accessibility and market penetration of Internet has considerably increased across the Asia-Pacific region. While e-commerce majors are gaining users, smaller players are also gaining momentum in business and investments. The onset of digital money and fully-equipped wallets has allowed people to trust e-commerce as a secure business. Constant evolution within the e-commerce space and encouragement from the government has given the industry a big boost. Here are some factors that are brightening the e-commerce horizon:
Wider delivery options
With the rise of Internet usage in smaller towns, delivery options are increasing. Many small towns are not only placing Internet orders but are also exploring the marketplace to make sound shopping decisions. The spread of Internet has enabled digitalization in all respects of our daily lives.
Return policy
Return policies around the globe are changing and are poised to become monetized in most return cases. This is especially, in the light of serial returners. These policies are aimed towards giving consumers a better shopping experience and to enable them to make the most of their choices.
Technology enhancement
Virtual reality shopping and the use of latest softwares that enhance consumer shopping experience are gaining popularity. This is a segment within the industry that is developing with speed. It is the technology that will revolutionize the e-commerce business.
Social ecommerce
The rise of social media and the innovative use of the "buy button' have brought the consumer closer to the business. Social shopping, that is, shopping on social media platforms is expected to become the big rage. The e-commerce community is banking on this new shifting in shopping.
One click checkout
Quick checkouts and payment options that are fast and short will change the e-commerce game. Consumers prefer to make quick purchases and have left behind the days when a payment gateway took longer than a few seconds like today.
Augmented and virtual reality
The dawn of these advanced technologies is changing the future of e-commerce. The shopping experience of every consumer is becoming evolved in a way that consumers are now leading the business decisions and investments.
Blockchain technology
Data security and blockchain technology is changing e-commerce and the way data is protected. The trust that the industry has gained is also due to the onset of blockchain technology and security measures industry giants have initiated.
Drones and delivery systems
Many news articles and tests have been highlighted in the past year. This year, the industry is expected to implement these innovations at reduced or no costs because it brings down the cost of logistics operation. This innovation has received mixed reactions. Having said that, introduction of delivery systems and adding innovation is a big business advantage for the industry.
E-commerce will be an industry that will take premise in 2019 and make a big mark in world economy. Innovations and technology are not only driving the industry but also revolutionizing it. The consumer experience is becoming more and more enhanced. Consumer is king and the king is ruling the decisions in the boardrooms and commanding the investments. Thanks to this, e-commerce is poised for progress like never before.
