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Increased Online Retailing and Increase in Number of Mobile Apps Fuels Global Market

  • Date Submitted: 01/28/2016 05:40 AM
  • Flesch-Kincaid Score: 32.6 
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The retail digital transformation market has enabled users to attain multichannel sales through the internet and mobile applications. Intensified internet penetration and rising numbers of mobile applications worldwide has led to expansion of the retail digital transformation market. The retail digital transformation market has made it convenient for consumers to shop online, as merchants can showcase their products online on an international scale. The market gives consumers more choices and selections of products and also offers consumers discounts and many other bargains.

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The online retail market is expected to expand at an encouraging CAGR of 23.7% during 2014-2020. The burgeoning of the online retail market can be attributed to a boost in popularity of mobile commerce and enhanced quality of logistical structure within the retail digital transformation market. The online retail market is expected to be bolstered by the growing number of internet users and upsurge in online retail stores.

Mobile Apps to Record High Growth Due to Burgeoning Mobile Applications

The retail digital transformation market’s segmentation by mode of access breaks the market down into websites and mobile apps. The mobile apps segment captured approximately 19% of the market in terms of revenue in 2013 and is expected to develop at a progressive CAGR of 30.9% during the next few years. However, websites are still dominant at present due to the wider spread of desktop computers than handheld devices. The retail digital transformation market is foreseen to grow substantially over the years leading up to 2020 due to the buildup of mobile applications. The enhancement of broadband services by internet providers are also one of the growth factors for mobile apps in the retail digital transformation market.

In the product segmentation of the retail...

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