Changing eCommerce landscape

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ayesharupa2
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Joined: Thu Jan 11, 2024 10:42 am

Changing eCommerce landscape

Post by ayesharupa2 » Thu Jan 11, 2024 10:50 am

According to Statista, here are some highlights: The eCommerce market is forecasted to generate revenue of $3.64 trillion in 2023. The eCommerce market is expected to grow at an annual rate of 11.16% between 2023 and 2027, resulting Job Function Email List in a market volume of $5.56 trillion by 2027. The number of eCommerce users is anticipated to reach 5.29 billion by 2027. User penetration in the eCommerce market is predicted to be 57.2% in 2023 and is expected to increase to 66.6% by 2027. The average revenue per user (ARPU) is forecasted to amount to $827.40. The global retail e-commerce sales are projected to grow by 56 percent in the coming years, reaching about $8.1 trillion by 2026 from about $6.3 trillion in 2023.

Group 48057 So what do we get from all of this? If there is one key takeaway we get from this compelling data, it is that businesses seeking success in the global eCommerce marketplace need and have to adapt to the changing eCommerce landscape. And as global competition intensifies, businesses must remain agile and innovative while meeting the evolving needs of customers in the post-pandemic era. But while doing so, they have to consider the diverse cultural and linguistic needs of global customers worldwide. Services like Website localization and eCommerce website localization are becoming so high in demand now as more businesses start to understand the powerful impact of localization in resonating with multilingual customers linguistically and culturally. UAE eCommerce Market Overlook According to The International Trade Administration, the UAE’s eCommerce market grew by 53% in 2020, with a record of $3.9 billion in eCommerce sales.

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And with almost every single person in the UAE having internet and mobile phone access, the Dubai Chamber of Commerce And Industry forecasts that eCommerce will skyrocket to a remarkable $8 billion in sales by 2025. But, what about the UAE’s customer base? In order to conquer new markets, you should have a deep insight into your target audiences. UAE markets are constituted by a vast base of young, mobile-savvy consumers that actively seek eCommerce solutions that cater to their needs. The average online Arab customers are proactive, technology early birds that feed the demand for online purchasing.



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