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The consumer electronics market consists of the sale of electronic goods including video products such as television, navigation products, digital camcorders and accessories, e-Readers, DVDs and Blu-ray players, and audio products such as MP3 players and appliances, home theater sound systems and musical instruments, musical instruments and portable electronics, and others. The IT/consumer electronics e-commerce market contains revenue generated by institutions through the sale of this video and audio electronics. Ecommerce refers to businesses, companies and individuals who sell goods or services electronically.
COVID-19 Scenario Analysis:
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Consumers are Shifting from Offline to Online Shopping:
Globally, about 53% of the world population (over 4 billion people) are connected to the Internet, and almost all (92.6%) go online using their mobile devices. Connecting to the Internet has created an opportunity to shop without a problem - anytime, anywhere. The availability of the internet, mobile technology, and digital technology are changing the consumer shopping experience. With consumer confidence in building high-quality products including electronics on the Internet, the number of online consumers is increasing dramatically. Therefore, with more penetration of online shopping into consumer lives, the e-commerce electronic market value is expected to increase only but not decrease.
Lack of Communication Platform Covering the End of the Delivery of Electronic Goods Purchased Online:
The lack of an end-to-end communication platform for online electronic delivery is a major challenge for the growth of the IT/consumer electronics e-commerce market. In addition, trade is more important than what is needed, and in developing countries, there is a major barrier to operation. In India, e-commerce sales can bring to only about 200 cities in which means that a large portion of the population is not available. The performance of goods is very different in each country. The differences include spatial planning infrastructure, delivery options, delivery method, and inventory storage. These are sustainable business challenges that are determined to expand beyond the borders. In addition, catering services for the same day-to-day delivery, as well as managing applications for simultaneous spatial change, is another major ongoing food challenge for retailers. These factors, therefore, hinder the growth of the consumer electronics market.
Augmented Reality (AR) Technology Enhances Online Shopping Experience:
AR technology is an online shopper's 'uncertainty' solution to a product that wish to purchase online. AR solutions allow customers to visualize products in real-time, from the comfort of their homes. 3D viewing with AR provides an opportunity for customers to see what products might look like in their space before committing to a purchase. It can try different options and choose the best product. It reduces the hassle of retrieval/exchange of products and saves time and cost. AR helps online retailers greatly reduce returns by providing a ‘try-before-you-buy (TBUB)’ digital experience. For example, an augmented reality tool that allows customers to view a product in real-time. It helps customers to move around and see the products, that can be seen in the natural environment. Also, customers can change product colors and finishes.
Key Benefits of the Report:
Questions Answered in the Global IT/Consumer Electronics E-Commerce Market Research Report:
Key Market Segments
Key Market Players