Executive Briefings

E-Commerce Sales Hit Record High; Asia-Pacific Being Top Market for Such Activity

E-commerce sales in B2C soared to new heights in 2012. According to eMarketer.com, e-commerce sales topped $1tr for the first time. The B2C sales grew from 21.1 percent last year to $1tr. This year, sales are expected to grow from 18.3 percent to $1.2tr worldwide. According to eMarketer, it is estimated that Asia-Pacific has surpassed North America to become the No. 1 market for B2C e-commerce sales.

According to Manish Chowdhary, founder and CEO of multichannel ecommerce company GoECart, the obvious reason e-commerce sales have soared to new heights is convenience.

"Nobody wants to stand in line. It's much more convenient that you can get transactions quicker online than offline," said Chowdhary. "It's a matter of efficiency and [the] online channel provides unparalleled efficiency many times more efficient than any offline shopping."

Chowdhary said people used to shop offline for the social aspect attached to shopping offline, whether it's going to the mall with a friend or family member it was an experience.

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According to Manish Chowdhary, founder and CEO of multichannel ecommerce company GoECart, the obvious reason e-commerce sales have soared to new heights is convenience.

"Nobody wants to stand in line. It's much more convenient that you can get transactions quicker online than offline," said Chowdhary. "It's a matter of efficiency and [the] online channel provides unparalleled efficiency many times more efficient than any offline shopping."

Chowdhary said people used to shop offline for the social aspect attached to shopping offline, whether it's going to the mall with a friend or family member it was an experience.

Read Full Article