The digital landscape is shifting from a brick-and-mortar world to a mobile one.
Digital is transforming retail and creating new revenue streams for retailers and brands, but the shift is also a change in the business models of some of the world’s largest companies.
The key players include Google, Amazon and Facebook.
In the past, the biggest players in the retail sector were the big-box retailers, which were owned and operated by traditional brick- and-mortars.
Now, these retailers are competing with startups that are building products, services and apps online that can be sold directly through mobile devices.
Amazon, for example, has created e-commerce platforms for e-books, clothing, travel and more.
Facebook recently announced it was buying Instagram for $1 billion.
And Google has launched its own digital commerce services that can sell products directly to consumers.
Google’s AdWords and Google Shopping have become dominant online advertising platforms.
But the company is not the only player in the online retail business.
In fact, it’s now one of the largest, according to Forbes.
“The online retail market is a very complex market,” said Mark Gurman, founder and CEO of Gartner Inc., a technology research firm.
“It’s an enormous opportunity.
The fact that we have the ability to monetize that opportunity means we can continue to be competitive.
But, as the market continues to evolve, we’re going to have to make adjustments.”
Gartner estimates that e-tailers will make up more than half of the $1.9 trillion market for online retail this year.
But it predicts that ecommerce will still account for about one-third of total retail sales in the next three years, with Google and Amazon accounting for about two-thirds.
GARTNER’s Gurman predicts that digital will be a major driver of the next phase of the retail industry.
For example, Gurman said, “It makes sense for Google to be in the e-retail space because the mobile platform is really going to accelerate the pace of digital and digital commerce.”
What’s behind the shift in the digital landscape?
According to Gurman and other analysts, there are several factors behind the evolution of the digital retail marketplace.
First, digital has changed the way retailers are operating.
More importantly, digital means retailers can be more transparent with customers and advertisers.
It also means retailers are able to more quickly target their customers to what they are selling.
A good example of this is the launch of Google Shopping, which allows consumers to buy products directly through a mobile device.
Google’s acquisition of Snapdeal is an example of the latter.
Secondly, Gurmans analysts predict the ecommerce business will continue to grow as more brands and retailers take advantage of the new digital opportunities.
Third, Gurons analysts say retailers can leverage their existing networks of relationships with customers, advertisers and distributors to increase the size of their online retail channels and increase the reach of their brand.
In the end, Gurmen said, the online e-marketplace is poised to become the “biggest, most dominant, most profitable and most influential business in the world.”
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