Industry

eCommerce

Overview

The eCommerce industry is a double-digit growing industry, which has been steadily rising as an online share of retail sales increased to 14.4% in 2018. Consumers, as well as brands, are shifting their focus from offline and physical retail to eCommerce for hundreds of categories. In 2019, consumers worldwide spent 3.46 trillion dollars, which is half a trillion more than last year. The eCommerce revolution attracts a broad range of consumer interests from APAC and BRICS countries.

The modern omnichannel experience brings smartwatches, wearables, television, mCommerce, eCommerce, and smart retail to an integrated experience to transform the customer experience. Enterprises integrating an omnichannel experience in their eCommerce strategy can help them to retain customers, create brand loyalty, and achieve repeat business.

Insights

How Blockchain can solve eCommerce Challenges

eCommerce is a platform where sellers and buyers connect to perform a trade, exchange of goods, digital goods, products, and services

How Advanced Analytics Can Benefit E-Commerce Players

A global report suggests that only 0.5% of the business owners are using Big Data in their e-commerce businesses

Cloud Computing behind the massive success of eCommerce

Cloud Computing fuels the massive success of e-commerce and helps companies to expand their horizons in various geographical boundaries.

What We Do

Syncomint enhances operational efficiency by equipping decentralized model of Blockchain technology, which has the potential of streamlining operations and driving efficiency to the entire chain. We provide smart contract development to regulate intermediaries and third-party integrations like payment processing partners, logistics, cancellations, Stock Keeping Unit (SKU), and more. Blockchain facilitates management systems and streamlines the entire workflow to create transparency, data reliability, and allows enterprises to quit the paper-based legacy system. Syncomint provides smart contract development with cryptos and makes the entire supply chain seamless.

Cloud Services

Syncomint specializations in extensive cloud services and scalability on demand for eCommerce websites for a seamless experience, handling seasonal spikes and workload management for enterprises. Opting for cloud services for eCommerce is a no brainer, as it provides a flexible solution with role control, security, and timely backups. Syncomint Cloud Services allow applications to deliver content fast, no matter where the customer is located.

Our Customers

Our Perspection

The eCommerce market is set to become a whopping US$2,237,959m industry in 2020. Global eCommerce revenue is expected to grow at an annual growth rate (CAGR 2020-2024) of 7.6%, resulting in a market volume of US$3,004,191m by 2024. The market’s largest segment is Fashion, with a market volume of US$718,027m in 2020. The average revenue per user (ARPU) currently amounts to US$535.81. In the United States alone, there is a 93% increase in users who made at least one purchase online in the last year. The eCommerce market is at a maturity phase for developed countries and is extremely cost-intensive to compete in such markets.

Related Offerings

mCommerce

More than 85% of web traffic comes from mobile. Syncomint creates interactive mobile commerce experiences for enterprises by utilizing cloud computing, secure gateways.

Blockchain and AR & VR eCommerce

Syncomint provides cutting edge technology based eCommerce platforms that are built on Blockchain infrastructure for security, reconciliation, and transparency in the value chain.

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