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The coronavirus pandemic is strengthening e-commerce in India, Indonesia, Mexico, and Nigeria, which already had factors like sizable populations, fast e-commerce growth rates, and a large number of digital buyers working in their favor — but it also faces distinct obstacles in each country.
Pre-pandemic, each e-commerce market was set to reach more consumers and rack up more sales in the coming years due to factors like expanding internet access and smartphone adoption, as well as the development of digital payment methods. However, there have also been factors working against e-commerce in each market, such as unfavorable regulatory environments, geographic obstacles, foreign competition, and lacking infrastructure.
Now, lockdowns and concerns about visiting stores are accelerating these e-commerce markets’ development, illustrating how the pandemic is rapidly strengthening opportunities for e-commerce stakeholders around the world. Each of these countries experienced some form of lockdown in response to the coronavirus crisis, making e-commerce more appealing and necessary than ever.
This caused consumers in these countries, where many people had yet to make an online purchase, to start shopping online and plan to make more e-commerce purchases after the pandemic subsides. The sudden uptick in e-commerce shopping, both right now and in the years to come, is giving e-tailers more consumers to target than they would have without the pandemic, offering e-commerce players the chance to scale their operations more quickly than they might’ve planned.
In The Global E-Commerce Landscape report, Insider Intelligence examines the effects of the coronavirus pandemic on the development of the e-commerce markets in India, Indonesia, Mexico, and Nigeria. We lay out the major e-commerce players in each country, including both domestic firms and companies based around the world, to examine the level of competition in the four markets. Finally, we analyze the opportunities and challenges e-tailers face in each market, considering both changes caused by the pandemic and factors that are unrelated to the crisis.
The companies mentioned in this report are: Alibaba, Amazon, Bukalapak, Cornershop, Facebook, Falabella, Flipkart, Flutterwave, Google, Gojek, Grab, JioMart, Jumia, Konga, Lazada, Linio, Liverpool, Mall For Africa, Mercado Libre, Ovo, Paga, Reliance Industries, Shopee, SystemSpecs, Tokopedia, Uber, Visa, Walmart, Worldpay
Here are some key takeaways from the report:
- The coronavirus pandemic is accelerating e-commerce development in India, Indonesia, Mexico, and Nigeria, which were already considered some of the highest-potential online shopping markets in the world. These markets serve as examples of the sudden opportunities to scale that are available to e-commerce stakeholders in several countries in the wake of the pandemic.
- India’s market was already on the rise before lockdown forced consumers to turn to online shopping — but some e-commerce restrictions likely frustrated shoppers.
- Indonesian consumers’ interest in shopping via online marketplaces and other platforms is growing, potentially pushing e-commerce sales to soar in the near future — but serious hurdles unrelated to the crisis loom.
- E-commerce is set to experience rapid uptake in Mexico thanks to high smartphone penetration, but international competition and limited access to digital payments may complicate the situation.
- Nigeria doesn’t have a dominant e-tailer yet, and the pandemic may make the market ripe for competition — provided e-tailers can reach consumers despite issues with electricity and internet access.
In full, the report:
- Examines how the e-commerce markets in India, Indonesia, Mexico, and Nigeria, are set to progress in light of the coronavirus pandemic and other key factors.
- Lays outs the top e-commerce players in each country and considers how they might stack up in the years to come.
- Discusses the opportunities each market holds for e-tailers as the pandemic accelerates the adoption of online shopping and other market characteristics open the door for greater e-commerce sales.
- Looks at the challenges e-tailers face in each country, including issues that popped up during the pandemic and other problems that could impact operations regardless of the current crisis.
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