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E-Commerce in 2020: Redefining The Online Business
Market Amid Pandemic Situation
With work-from-home and social distancing becoming new normal due to the spread of the coronavirus, people all over the world are moving to E-commerce sites to buy their daily needs and essentials. This pandemic situation has made people move towards online shopping because this allows them to take advantage of E-commerce websites like never before. For example, you might never have visited an E-commerce site to buy hand sanitizers in the past. But due to the unavailability of hand sanitizers in retail shops now, people are ordering the same from online sites. Going by this trend, the demand for Ecommerce Website Design in Delhi and other cities of the country has increased.
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Consumer Sentiment
According to a recently published report amid the COVID-19 outbreak, it was found that shopping centers and malls were the most-avoided places. People also said they would avoid shopping in general until the time situation become normal. This view is driving people to try their hands on E-commerce sites and shops. Why step out, when you can get things delivered at your doorstep? And online retailers are grabbing the opportunity with both hands. This is the right time for the E-commerce sector to step up and be counted during these uncertain times.
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Future Prospect
The report further says that the fast-growing e-commerce market in the country will reach $84 billion in 2021 from $24 billion in 2017 due to strong growth in the organized retail sector. The report said rising online shopping, Smartphone usage, and internet penetration in semi-urban and rural areas would help lift sales. Currently, India is holding a strong position in the global market and is on its way to becoming the third-largest consumer market in the world, close to $1.2 trillion by 2021. The coronavirus outbreak is supposed to take India's e-commerce market nearly three times to around $85 billion by 2024, despite other sectors being impacted very badly.
According to industry experts, opportunities for e-commerce businesses in the country are expected to reach $200 billion by 2028 from $30 billion in 2018. Currently, customers are moving from the "survival mode'' to get accustomed to the new normal of the post-COVID-19 world. Consumers are buying only affordable goods and moving away from buying expensive brands.
Given the strong and robust e-commerce and consumer outlook, India is expected to see redefining trends in the e-commerce market which will shape the future of the e-commerce industry. Businesses are leveraging the opportunity created in the e-commerce sector due to the coronavirus outbreak. This is also the right time to take your business online with a stunning and user-friendly website. CSIPL, a premier Ecommerce Website Development Company in Delhi, can help you with an outstanding website that will drive your sales and foster revenues.