By 2027, the e-commerce market is projected to be 6.35 trillion US dollars, showing an annual growth rate of 11.51%. Global retail e-commerce sales are forecast to grow by 8.9% this year, helping to offset the impact of global inflation, research firm Benchmark International has concluded.
By 2027, the number of users in the e-commerce market is expected to reach 5.29 billion. Also in Latvia, trading platforms continue to grow rapidly in all main sales segments.
The best-selling product categories are women’s clothing and accessories, electronics, home and kitchen appliances and devices. E-commerce makes it easier to overcome the effects of inflation: With core inflation still a concern in most economies around the world, cross-border e-commerce remains the best way to manage your budget and save money. The traditional November sale offered all the best-selling products from the best stores around the world and used various promotional mechanisms that allow customers to shop with additional benefits, such as buying products from previous collections at a discount.
This year, the number of vendors participating in the sale has increased by 50% compared to a 30% increase a year ago. The top three categories by sales were women’s clothing and accessories, electronics, home and kitchen. Their increase compared to November 2022 reached 13%, 4.5% and 3.3%, respectively. The sales network is developing rapidly; Success is largely driven by active vendor engagement and network development.
On average, the sales volume of the merchants participating in the sale increases by 50-60% compared to a normal trading period. This season’s standout examples of outstanding performance are sellers from Korea and India, which saw five-fold and 2.5-fold increases in sales during the November sale, respectively, compared to November 2022.
“K-pop” products, including albums and paraphernalia of popular groups, became the most sought-after purchases from Korea. The breakthrough for Indian marketers is about consistent product and adding unique local items.
2023-12-15 05:06:00
#Goods #India #Korea #open #opportunities #Latvians #VIDEO
