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According to Technavio's analyst, the global online electronics retailing market is anticipated to grow rapidly and post a CAGR of more than 14% during the forecast period. The growth in the e-commerce sector for electronic devices will drive the growth prospects for the global online electronics retailing market until the end of 2021. Some of the major factors responsible for the growing demand for the online purchase of electronic devices through electronic stores includes the availability of wide range of product choices based on their features, forms, and size, which allows consumers to compare these products against their brands and features and select the products that best suit their requirements. Also, it has been observed that e-commerce vendors provide assortment options based on product payment options, operational capacities, and brands, which further drives the global online electronics retailing market's growth. Furthermore, with the growing trend for offering seasonal sales, festive sales, exchange offers, and discount schemes by various e-commerce vendors, the preference for purchasing electronic devices online will increase.
The growing trend for cross-border e-commerce will drive the growth prospects for the global online electronics retailing market in the coming years. Some of the major factors responsible for the flourishing cross-border e-commerce is the convenience in logistic operations such as faster routes of shipment, efficient packaging, and tie-ups with domestic logistic companies.
The global online electronics retailing market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Some of the key competitive strategies of these vendors include digital marketing strategies for cost minimization and social commerce, seasonal sales and festive discount offers for inducing impulsive purchases, and omnichannel strategies to integrate offline and online channels. Furthermore, these vendors are increasingly focusing on building digital capabilities and enhancing customer shopping experiences through smartphones, tablets, and other electronic gadgets by personalizing and customizing user interfaces.
Key vendors in this market are -
Other prominent vendors in the market include Alibaba, Buydig, Costco Wholesale, GOME Electrical Appliances Holding, JD, Sonic Electronix, Suning Yun Shang, and Vanns.
The online consumer electronics retailing segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the market segment's growth is the increasing online sales of electronics such as smartphones, tablets, and smart devices through online portals. Also, the growing efforts of online vendors to match prices and reduce the differences between offline and electronics online product prices will further drive the market segment's growth in the coming years.
In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market's growth in the region are the increasing population, growing penetration of the internet and smartphones, increasing buying power of consumers, rapid urbanization, availability of multiple payment options, and improved logistic distribution networks.
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According to a recent market research carried out Technavio, it has been noted that online retailing is growing at a tremendous pace and is estimated to generate the maximum revenues in the overall retail sector. With the speedy growth of the e-commerce market, there has been a significant shift towards ordering products online. By making use of their subject expertise coupled with technical knowledge, Technavio's market analysts have developed in-depth reports on the latest innovations and advancements in the general retail and goods services market. The general retail market vendors offer products and services from a wide range of industries including personal care, footwear, sports & fitness, stationery, furniture, household products, kids? products, maternity care products, etc.
The market research analysts at Technavio follow an integration of qualitative and quantitative research methodologies and consider aspects such as the market size and product demand across diverse geographical regions. The industry experts also use the most effective analytical tools to introduce some of the best comprehensive reports based on online retail and goods services industry including online fashion retail, online lingerie, online beauty and personal care, online apparel footwear and accessories, and online home decor, regionally and globally. With the constant launch of innovative products and the entry of several new vendors, the online electronics retailing market is likely to open up enormous growth opportunities for electronics entrepreneurs throughout the globe. Technavio's market research reports are modeled in such a manner that clients get a realistic understanding of the latest trends, prospects as well as challenges in the consumer and retail market.
This upcoming report on online electronics retailing also considers the growth of similar markets such as online retail market in the US and online children's apparel, which are expected to grow at a CAGR of around 16% and 8%, respectively by 2020. According to our industry experts, factors such as convenient online payments options, such as mobile wallet, improved customer interaction and service, free delivery options, and a more customer-friendly design of shopping websites will boost sales on the online platform. Along with well-crafted syndicated reports, Technavio also offers to provide customized reports, which are based exclusively on the business requirements of the clients.
The upcoming industry research report for online electronics retailing market also identifies emerging trends, the key drivers, and the challenges that the general retail and goods services sector is presently experiencing. It also proffers insights into the changing competitive landscape to give businesses a calculative picture of the future direction of the consumer and retail industry.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product category
PART 07: Market segmentation by geography
PART 08: Key leading countries
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Appendix
Tags: electronic devices, online shopping, retail, retail sector, point of sale, consumer and retail market trends,
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