The Future of Ecommerce After COVID-19 is certainly not the pessimistic one that some analysts had to say. The Future of Ecommerce After COVID-19, according to this school of thought, will be a time when consumers will again use the internet and mobile devices to purchase goods and services. This approach is based on the fact that many in the business community had predicted a slowdown in business during the past decade or so. What they did not foresee was the sudden popularity of smartphones and other digital devices which, combined with globalization, led to an increase in online purchase activity. The slower growth in business led to slower growth in the online sector.
The slowing down in business is being counteracted by the massive shift towards online buying and the corresponding surge in ecommerce activity. What this means is that the total revenue from online sales is now exceeding that of retail sales. What this means for the industry is that there are now more buyers than sellers. It also means that competition is now tighter than ever. The trend lines drawn by analysts many years ago, which predict a flattening of profit margins over the next few years, look very similar to the current trend lines.
Another major driver behind the increasing online revenue is the growth in cybercrime. The number of cyber crimes has increased tenfold since 2021. The number of cybercrimes committed by customers using their credit cards to make purchases has also increased dramatically. The security measures adopted by retailers to combat cybercrime have not been able to curb this revenue flow. While some countries have taken measures to curb cyber crimes, they have been unable to curb online revenue from certain areas.
The challenge faced by the global community is how to cope with this rise in cybercrime and online revenue. Many international organizations and governments have been established to tackle cybercrime and tackling cybercrime effectively is key to reducing this threat to business. The Future of Ecommerce After COVID-19 will be looking at these issues in more detail.
Consumer electronics companies are finding the strength of online commerce. The number of people shopping online for household items, electronic gadgets and accessories are expecting to continue to grow substantially over the next few years. The popularity of Chinese-made products is also a factor. These products are cheap and have impressed users worldwide. The Future of Ecommerce After COVID-19 will look into the impact of Chinese produced consumer electronics companies on global ecommerce channels. The growing popularity of Chinese products is likely to affect the global demand for other products such as mobile phones, music devices, and digital cameras.
The Future of Ecommerce After COVID-19 will examine whether brand protection is still necessary for some ecommerce businesses. In some countries, there is a strong anti-commercialisation policy and many consumers do not like counterfeit or fake goods. Other countries do not have such protectionist policies and it is difficult for small consumer electronics companies to sell in these markets. Brands are very important for long term success for any company and can create barriers to entry for new entrants. The Future of Ecommerce After COVID-19 will investigate whether brand protection is still relevant for some ecommerce businesses.
The Future of Ecommerce After COVID-19 will explore whether ecommerce revenue is increasing as a result of the growth of the Chinese market. The rapid growth of the Chinese market has created opportunities for all types of global ecommerce businesses to benefit from increased online sales. The Future of Ecommerce After COVID-19 will look at whether the benefits of online sales in China outweigh the costs of doing business in China. The benefits include an improved supply chain and better access to Chinese manufacturers.
The Future of Ecommerce After COVID-19 will examine whether online revenue growth is now moving beyond individual product markets and looking at group c and d. For example, some products are cheaper to produce in small quantities that can be sold en masse. Online sales are also moving into other product groups, such as children’s toys, electronic equipment, and clothing. The analysis of what ecommerce channels are popular will be an important part of this report. A future report will examine whether the popularity of group c, d and ecommerce channels are now converging with one another.