Pushing eCommerce Development to Meet the Demands of Emerging Markets
The Boston Consulting Group recently presented a report about eCommerce in the emerging markets at the World Economic Forum in Tianjin, China. It revealed that the number of Internet users in emerging markets would increase up to 3 Billion by the year 2020 in comparison to a figure of 2.1 Billion in 2017.
What this means is that there are more than 0.9 Billion new Internet users to come within the next 3 years. It’s a huge market of audience to attract, and such an opportunity could be only best leveraged through eCommerce development.
The presence of emerging markets and developing economies ensures that there’s always a new set of customers ready to be served regardless of the sector. Additionally, new trends will always be created due to the influence of different emerging groups of individuals and communities of consumers. eCommerce, being one of the most popular businesses based on the Internet; stands as the best equipped sector to meet these needs.
If you are a business owner or an aspiring entrepreneur willing to set up an eCommerce business, you really need to understand what the next 0.9 billion users of the Internet might need. Perhaps your business can be the one serving the majority of these in future. Who knows?
The rise of specialized eCommerce development services
It would be naive to say that eCommerce can never have a variety in terms of business propositions. While we have the top giants in eCommerce such as Amazon and Alibaba delivering a similar set of services, the rise of emerging markets will bring the need for specialized eCommerce development services and businesses to cater to specialized needs of new communities.
Take, for example, the development of new eCommerce websites for the community of senior citizens in India. eCommerce websites such as Senior Shelf and Seniority are built keeping in mind the needs of senior citizens in the Asian sub-continent.
The new and upcoming set of 0.9 billion customers from the emerging markets could perhaps seek alternative and unconventional sources such as these for online shopping. Every eCommerce company doesn’t have to be an Alibaba or an Amazon to succeed. There is an audience for everything.
All that matters is that the right people are able to look up your business at the right time. The highest priority for any business, be it eCommerce website or any other type of an entity; is to increase its reach towards a wider audience. Someone, somewhere will definitely need what your business offers!
Capitalizing on the latest eCommerce development trends
One of the best advantages of Technology is that it offers something for everyone. So if a new set of customers are coming up on the Internet, what better way to lure them than leveraging the trending eCommerce development technologies!
Emerging trends implemented in eCommerce website development companies and other eCommerce development services are mostly concerned with evolving technologies. Today’s top eCommerce development companies focus on harnessing software development trends such as AR, Machine Learning, AI and Chatbots to fulfill the needs of its ambitious clients.
Also read: AI is shaping ecommerce development today
However, the focus can never always be on what is the best, especially when talking about emerging markets. That’s because the population in such markets may want to start with more simpler forms of eCommerce.
This is where platforms such as Progressive web apps and the use of Lite mobile app development can be useful. The key benefits of these can highly benefit businesses looking to serve wider audiences in rural areas with low-bandwidth networks and low-spec devices. The eCommerce giant Alibaba has already succeeded in increasing its customer base with the development of a PWA for its eCommerce platform.
eCommerce development in emerging markets is all about adapting
The emerging markets of the world have a few weird quirks which make them so complicated. One such quirk is its dynamic nature largely due to the unfamiliarity of the population with new concepts. Thus its difficult to determine the exact need of customers. However, no matter what the industry is, companies are highly likely to succeed when it focuses on adaption rather than domination.
Such practices implemented by ecommerce website development companies would require flexibility while maintaining the robustness and scalability of an eCommerce platform. If you’re a business owner willing to invest in an eCommerce development platform for implementing your business idea, it’s best to hand the task to a top ecommerce development company, focus on your specialization and most importantly, look forward to grabbing most of the next 0.9 billion internet users to your brand!