Retail Digital Transformation Market to Rise owing to Advanced Shipping Services and Secure Modes of Payment

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A new Transparency Market Research report states that on the basis of revenue, the global online retail industry was estimated at US$982.8 bn in 2013 and is predicted to expand at a striking 23.70% CAGR in the forecast period between 2014 and 2020. The title of the report is “Retail Digital Transformation Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”.

Browse full Retail Digital Transformation Market (By Mode of Access – Mobile Apps and Websites; By Product – Consumer Electronics and Appliances; Apparel and Footwear; Media, Toys and Games; Food, Grocery and Beverages; Furniture and Home Improvement; Beauty and Personal Care and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020 report at https://www.transparencymarketresearch.com/retail-digital-transformation-market.html

According to the report, the global retail digital transformation market is boosted by factors such as availability and ease of internet access, enabling easy access to customers for shopping online. In addition, factors including advanced shipping services and safe and secure modes of payment have raised inclination of customers towards online retail. In addition, the rising utilization of mobile devices such as tablets and smartphones, offering great convenience to customers, has positively affected the global online shopping scenario. The large number of promotions and discounts on products available online and the rising company investments for the swift development of mobile applications utilized in online shopping have significantly fuelled the global retail digital transformation market.



On the basis of mode of access, the retail digital transformation market is segmented into websites and mobile applications. Online retail market places can be accessed via these two modes of access. Amongst these, the mode of access via mobile application held a great demand owing to the rising number of users having smartphones. Nonetheless, websites have also been a significant option for online retailing owing to enhancement in broadband internet connections and advantages of websites such as easy usage and greater navigation areas. This is why, in 2013, the websites segment held the biggest share within the retail digital transformation market. Owing to the rising popularity of m-commerce, the websites segment is anticipated to expand at an exponential rate in the forecast horizon, but rising demand for m-commerce will also help demand from mobile applications.

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