India's largest platform and marketplace for AI & Analytics leaders & professionals

Sign in

India's largest platform and marketplace for AI & Analytics leaders & professionals

3AI Digital Library

Ecommerce trends, buying behavior & online platforms – Journey, Reflections & Perspectives

June 6, 2021

Dipayan Chakraborty
Ex-Analytics Head – Myntra, Flipkart

In 1995, the first item ever was ordered online on Amazon – a book. 25 years later, Global B2C eCommerce sales amounted to nearly $4.53 trillion in 2020 and these figures expected to nearly double by 2023. If anything, we’re likely to see an even bigger increase in sales than predicted by these pre-COVID-19 estimates, as eCommerce sales have seen massive growth and transformation since early 2020. The pandemic has had an immediate impact on buyer behavior that has accelerated the digital & AI transformation for many businesses. COVID injected nearly $107 billion in eCommerce sales in the US alone, with a 169% increase in eCommerce purchases coming from new or previously infrequent users. Ecommerce has revolutionized retail. It has evolved to meet the changing needs, and to make online shopping easier for the modern day customer. Whether it’s hyper-customization, enhanced return policies, or improved integration, all of these changes have taken the world of ecommerce by storm. Dipayan, 3AI thought leader & mentor has witnessed this journey and he will share his anecdotes and will reflect on trends, landscape and future forward scenarios. The session will be moderated by Sameer Dhanrajani, President – 3AI.

    3AI Trending Articles

  • How AI is transforming Financial Services

    Since its inception, AI has experienced at least two major hype cycles with resulting winters of disillusionment. Although after the first “winter”, many financial firms deployed a number of successful applications, by the 1990s, AI went into its second winter of disillusionment as realization set in that these systems were harder and more costly to build and maintain […]

  • Revolutionizing Claims Journey through Generative AI

    Featured Article Author: Vidhya Veeraraghavan, Standard Chartered In the Claims-2030 series of articles, Mckinsey emphasizes that by 2030, every touchpoint in the claims journey, starting even before an incident occurs, will be supported by a mix of technology and human touch that seamlessly interacts to expedite the process and deliver a better experience across the […]

  • Data Governance: Three trends in 2021

    In 2021, the focus of financial services will be inclined to enable digital customer journeys as well as to sustain and grow revenue streams.   Actively governing data will make managing it more formalized thus making it more available, less complex to understand, and protect the customers’ data rights. Three principles and associated formalized dimensions […]

  • Blockchain and IoT gives end-to-end visibility to Stakeholders in a Supply Chain

    While IoT sensors help track the movement and quality of products, blockchain’s distributed ledger gives multiple entities joint control over shared information . Covid concentrated attention on supply chains like never before as the pandemic caused massive disruptions. Companies started looking deeper into the roots of their supplies, going further back than their immediate vendors. […]