Buying or selling of products through internet or electronic media, is known as e-commerce. E-commerce is prevalent in today’s scenario as the world is way too busy and has no single minute to spend in shopping. As an outcome, e-commerce is more in demand as delivery facility comes along.
With the fast moving world where the population is struggling in their day to day lives with a hectic schedule, convenience comes up as a bonus. A convenience product is a consumer service or product that consumers purchase without giving any further consideration. Some of the convenience products include toothpaste, detergents, fast foods and others.
With the greater disposable income, consumers are left with extensive choices; hence, the production would increase as well creating great revenue for this sector. Moreover, the number of consumers is increasing which makes the product popular and enhance its value.
Increasing population demands for more products making the production of that particular product higher. Population is a factor that encourages rise in this sector.
Showing concern for good health, people are now trying to adopt a healthy lifestyle. This is an immediate shift which is encouraging the production of natural goods. As the demand for healthy products is rising, the manufacturing will also increase which would result in more adoption of healthier products.
Millennials are the supporters of trend. Whatever they take up or promote, becomes a trend. Handful of millennials can influence the whole lot of population.
Consumer preference changes time to time. In the world full of competitors, it is important for the industry to catch up the mindset of consumers and serve them accordingly. Hence, modifying their products with the consumer preference would do the best for an industry.