It's 2019 & eCommerce sales have accounted for just 14.1% of all retail sales worldwide. The eCommerce industry has achieved 31% year on year net sale. There are very few industries or verticals that offer such an astonishing potential for growth.
Over the past decade or more, we have witnessed tectonic shifts and changes in device usage, shopping channels, and global markets. Ecommerce is at the very root of this shift offering everything from product and service deliveries to grocery shopping.
Worldwide last year, eCommerce sales touched $3.53 trillion, and they are projected to grow rapidly to $6.54 trillion US dollars in 2022. Ecommerce combines two of the worlds most frequented activities - shopping & browsing.
So far, Amazon has led the way in eCommerce innovation. The Seattle based giant accounts for 50 percent of the entire e-commerce retail market's gross merchandise volume. Further, it is estimated to hold nearly half of the US eCommerce market revenue.
One of the significant drivers behind its success are the experience that Amazon can offer its customers. Whether it is toys or toothpaste, finding what you are looking for on Amazon is just straightforward.
One of the main ways they make their customer's life easy is by displaying cross-sell items in one go, in a process called bundling. If you're looking for a printer, you'll find toner easily on Amazon. This is not true for most other retailers. Forrester Research shows that there is a 10% missed opportunity in cross-selling online. And this represents a huge opportunity for online retailers.
This is where we come in. We help eCommerce business to capitalize on this neglected opportunity. By using AI technology, we are creating customized modules that allow online retailers to cross-sell their products in bundles dynamically.
Today we are the world's leading cross-selling technology with clients across the globe.
As a team, we are an incredible mix of eCommerce experts, developers, data scientists and machine learning engineers, who relentlessly involve in innovation to create new value, own deadlines with pride, work together to remove barriers, and treat each other as friends and equals.
At INCREASINGLY, we invite you to share our vision and our commitment to excellence in everything that we do.
If you've got the desire to be a part of a creative and innovative group of people in a fun and rewarding environment, then join us in our mission to drive the eCommerce industry into the AI era.