E-commerce: A business trend that has potential to last forever!
If you want to stay ahead of the curve, you have to keep up with the changes – this is what E-commerce demands !
Nothing comes handy; generating revenues is a huge responsibility but it opens up numerous opportunities too – E-commerce is doing that! As we peep into the history – it appears to be incredibly interesting. Surprisingly, as it may sound, around 40 years back, e-commerce came into existence in the form of the Electronic Data Interchange (EDI). EDI replaced traditional mailing and faxing of documents with a digital transfer of data from one computer to another. Trading partners could transfer orders, invoices and other business transactions using a data format that met the ANSI ASC X12, the predominant set of standards in North America.
Ever since, e-commerce has been consistently growing with new innovations, technologies and business trends. This business methodology is here to stay - Stylish and Convenient– Anytime, Anywhere shopping capability– just exactly what today’s consumer demands.
UAE’s E-commerce market is predicted to grow as a main megatrend in the coming years, which is fairly motivating. According to Frost and Sullivan, UAE’s E-commerce market is expected to reach $10bn (Dh 36.7 billion) in value by 2018.
Few advantages that adds to UAE’s e-commerce expansion :
- Second largest presence of global brands in the world opens avenues for regional franchisees for developing mobile and online commerce.
- Idealistic geostrategic location with state-of-the-art infrastructure and world-class logistics facilities makes it a perfect location for companies to base their retail as well as wholesale trade operations.
- 80% smartphone penetration, which is amongst the highest in the world, offers great opportunities to grow through mobility devices.
- SMEs have bigger opportunities as their UAE base is helping them attract Emirati and more broadly Arab consumers who are willing to buy products through internet.
- Competitive pricing and convenience are the key motivating factors for users shopping online.
- Cross boarder shopping option with free shipping, safer ways to pay and most of all, facility to shop for items not available locally.
Challenges for e-commerce in UAE :
- Financial transactions are generally done through cash and cheques rather than credit cards.
- Payment option preferred on online shopping is Cash on Delivery (COD), which is offered by Souq.com – a renowned regional online retailer, which certainly restricts the buyer bracket.
- Cross boarder shopping barriers such as delivery/shipping cost, threat of theft/fraud, low quality or brand replication.
With all these challenges in hand, e-commerce is still standing tall and strong – For one reason – It’s incredible capacity to grow with time!
We, at Technoid, are making continuous efforts to leverage from our technical expertise and create an innovative asset for our customers. We offer a range of e-commerce services that includes website inception, development and implementation and of course – its maintenance. Some of the major projects done so far are www.greensymbol.com and www.thereaderme.com.
If you are looking for a custom-made solution for serving your business that includes apt ecommerce design/re-design, precise development and comprehensive digital marketing for your perfect online presence, drop us a mail at firstname.lastname@example.org – Our talented mind-pool, cutting-edge technologies and tactics can help you find a breakthrough solution!