NEW YORK, April 18, 2021 /PRNewswire-PRWeb/ -- The
e-commerce industry had phenomenal growth in 2020. Only with
USA retailers consumers spent
$861.12 billion online in 2020, up
44.0% from $598.02 billion in 2019.
The rise of online shops in other parts of the world was also
noticeable. Recently British retailer Asos has more than tripled
first-half profits to a record £106m. For example, in 2020 the
local market of e-commerce (purchases from Romanian merchants),
e-tail and services, amounted to approximately EUR 7 billion, an increase by 36% compared to the
previous year, based on the analyses of both external and internal
data made by PayU, the leader of the online payments market in
Romania.
Anyway, if in Europe and
the United States buying products
online is a usual thing for more than a decade, in the Caucasian
region it's still quite a new trend.
Of course, the pandemic shifted the perspective on online
shopping for many companies. Consumers' behavior also changed: they
started actively buying products from different international
online retailers. All of that has contributed to the growth of
e-commerce.
Customers love the convenience of e-commerce, but as brands
start cultivating the conscious consumer, increasingly customers
will also value brand purpose and trust.
A global study reveals that consumers are four to six times more
likely to purchase, protect, and champion purpose-driven
companies:
- 4 times more likely to purchase from the company
- 6 times more likely to protect the company in the event of a
misstep or public criticism
- 4.5 times more likely to champion the company and recommend it
to friends and family
- 4.1 times more likely to trust the company .
In Armenia, though, the most
significant e-commerce boom already happened back in 2016. It was
provoked by the Armenian shopping platform Globbing that provides
delivery from international shops of 7 countries to Armenia.
Moreover, the above mentioned Armenian shopping platform is
actively following and implementing the e-commerce latest trends.
It started to place lockers so that the customers can receive the
parcels everywhere in Armenia, as
Amazon did in the USA. But
Globbing went even far if you consider the population of both
countries. The company already has placed more than 125 lockers in
Armenia and continues to expand
the geography of the lockers' network, while Amazon has only around
20,000 lockers in the USA.
The development of online shopping is also notable in another
Caucasian country, Georgia.
Although the Ministry of Finance has not published data on foreign
online shopping of Georgian citizens in recent years, according to
the latest information from the Revenue Service, Georgian residents
spent about $34 million on online
purchases in the first six months of 2017.
As everywhere in the world, Covid-19 only increased the pace of
online shopping development. With the newfound local online shops,
shopping platforms and innovative lockers, the popularity of
e-commerce in the region is expected to grow even faster in the
following years.
Sources:
https://business-review.eu/money/the-local-e-commerce-market-amounted-last-year-to-eur-7-billion-an-increase-by-36-pct-compared-to-2019-217627
The Guardian
Digitalcommerce360
Sputnik Georgia
Forbes
Media Contact
Jim Teepen, Startup Business
Review, +374 99572977, StartupBusinessreview@gmail.com
SOURCE Startup Business Review