e-Commerce Retail market is anticipated to grow substantially due to large population with great internet penetration in the country, the key players of the market have a major target market in various countries. COVID-19 provided an unanticipated push and gave the sector a new, accelerated growth as seen in the global markets. This is due to a rapid shift in consumer behavior, which has been fueled in large part by the new normal of social distancing, movement restrictions, and reduced capacity in physical stores.
The Retail market witnessed a surge in the growth during the COVID-19 pandemic, which influenced various retailers’ shift from in-store to eCommerce. Retailers who did not have an e-commerce platform rapidly modified their websites to approve e-commerce orders and shipped orders received through their retail apps. Therefore, this shift has boosted the
e-Commerce Retail market during the COVID-19 pandemic. Retail market is segmented based on customers, products, and devices used and the market is further classified into business to consumer, business to business, and customer to customer. On the basis of products, the market is further segregated into electronics, fashion, books and magazines, and others(home decor, automobile, sports, beauty and personal care, kitchenware). Further on the basis of device used the market is categorized into a smartphone, tablets, and personal computer.
Israel companies have developed in stores and on the sales floor, high tech tools help balance inventory assortments, manage ordering and track pricing. Customer tracking tools increase customer satisfaction and promote loyalty by enhancing shoppers’ in-store experience. On the executive level, technology improves planning and decision making. Also smart retail in hybridization between traditional shopping methods and modern “smart” technologies. Through the Internet of Things, data is accumulated by way of communication between implanted devices and computers where the consumers enjoy a more personalized, faster, and smarter experience.
Relevant companies, interested to learn more on Israel innovative technology are invited to contact the Trade and Economic Department at the Israeli Consulate General in Bengaluru.
Contact: Ms. Kavitha S
Trade Officer -Trade and Economic Mission, Consulate General of Israel to South India (Bangalore). Tel: +91-80-49406515. email@example.com
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