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ecommerce sites
Ecommerce sites have become extremely popular, and are expected to witness a further uptake in India. If statistics are to be believed, revenue for ecommerce sisted is expected to show an annual growth rate (CAGR 2023-2027) of 13.90%, resulting in a projected market volume of US$120 billion by 2027, according to figures released by Statista. Ecommerce sites hold a majority of share in the market size of retail industry.
Why Are Ecommerce Sites Preferred?
There are several reasons why e-commerce sites are doing better than offline retail stores:
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Convenience: E-commerce sites offer the convenience of shopping from anywhere, at any time, without the need to physically visit a store. This is especially important in today's busy world, where people often don't have the time to go to a physical store.
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Wide variety of products: E-commerce sites offer a wider variety of products than offline retail stores. Customers can browse through a large number of products and compare prices and features easily.
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Lower prices: E-commerce sites often offer lower prices than offline retail stores due to lower overhead costs, such as rent, electricity, and staff salaries.
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Personalization: E-commerce sites can use customer data to personalize the shopping experience, offering customized product recommendations and advertising based on the customer's preferences and browsing history.
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Easy access to customer reviews: E-commerce sites often have customer reviews and ratings available for each product, allowing customers to make informed decisions about their purchases.
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Seamless payment and delivery options: E-commerce sites often offer multiple payment and delivery options, making the buying process seamless and convenient for customers.
Overall, e-commerce sites offer a more convenient, personalized, and cost-effective shopping experience for customers, which has led to their increased popularity and success in recent years.