Succeeding in E-Commerce
E-commerce growth is being led by a multitude of factors. Consumer connectivity and demand for better assortment and value through an omnichannel experience are obvious drivers. Consumers also seek trust in a channel, which can only be built over time by providing a consistent quality shopping experience. In the case of e-commerce, that trust is still developing.
Through experiences in developed e-commerce markets such as China, Korea, and the U.K., it’s clear that physical as well as financial infrastructure—robust and reliable delivery mechanisms, digital payment systems and even cash on delivery options—have proven their worth toward faster market development. Environment and cultural factors also play a key role, leading to some markets moving much faster in the e-commerce evolution than others despite having a similar connectivity profile.