The report further added that even though e-commerce runs throughout the year, the purchases reach their peak during three mega sale events, including Amazon Prime Day, which recently came to an end on July 12th, followed by the Black Friday sale, which starts the day after Thanksgiving and is considered the official start of the holiday shopping season. Black Friday is followed by Cyber Week, which starts on the first Monday after Thanksgiving.
These three mega campaigns are crucial for the e-commerce industry because they generate a significant portion of the total online shopping revenue. People look forward to these events to find discounts and grab the products they want at lower prices.
It’s not surprising that electric appliances are at the top of the list because they are usually expensive things that people buy, like smartphones, laptops, and others such as washing machines. These items are important for many people and can be quite costly, so it makes sense that they are popular during online shopping campaigns. People are often looking for deals and discounts on these products to save money while getting the things they need for their homes or personal use.
Fashion taking up almost twenty percent of global e-commerce revenue is quite impressive when anyone thinks about it. Even though individual fashion items may not be as expensive as electronic devices, fashion makes up for that by selling a large quantity of items. So, while each fashion item may not have a high price, many people buy lots of fashion items, which adds up to a significant amount of money. People love to shop for clothes, shoes, and accessories online, and the fashion industry is able to make a lot of revenue by selling a large volume of these items.
The experts at Statista believe that buying food online has the potential to grow a lot. They predict that the revenue from online food shopping could increase from over $300 billion in 2023 to more than $600 billion in 2027. That’s a big jump in just a few years. However, even with this growth, the revenue from online food shopping won’t reach the same level as the three big segments mentioned earlier. So, while online food shopping is expected to grow significantly, it won’t surpass the revenue generated by those popular shopping periods anytime soon. It is forecast that in the upcoming 4 years, sales in tech will enter the trillion-dollar zone.
Read next: GPT Detection Tools Are Designed To Discriminate Against Non-Native English Speakers, New Study Proves
by Arooj Ahmed via Digital Information World
No comments:
Post a Comment