But one of the biggest gains has been the quantum leap that online retail has made in developing markets.
Growth of domestic platforms as well as cross border trade has opened up literally a world of shopping opportunities for consumers in these markets.
This has been aided by new payment services that are enabling consumers who don’t have access to traditional credit cards and other banking services to purchases goods online.
Brazil, for example, is expected to see e-commerce reach $26 billion in 2021 and hit $35 billion by 2025. South Africa’s e-commerce market is expected to reach $7.7 billion by 2025.
And then there’s India. The nation’s e-commerce market is expected to grow 25-30 percent annually to reach a size of $120-140 billion by 2026.
Another growth market for both online and physical retail is Iran. This upper middle income nation of 83 million people has a retail market worth an estimated $167 billion.
Over the last decade, the development of digital payments and more advanced logistics services, and the growth of the transportation and telecommunication sectors, has driven the rise of e-commerce platforms.
In this episode I’m talking with Naser Shahverdi, founder & CEO of Aria Mall, an online platform for the Iranian market.
We’ll be discussing some of the opportunities and challenges that e-commerce faces as more Iranian consumers look to both traditional e-commerce and the newer social commerce that’s becoming popular around the world.
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Connect with Naser Shahverdi: https://www.linkedin.com/in/naser-shahverdi/
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