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

Sign in

India's largest platform and marketplace for GCC & AI leaders and 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

  • Creating the Bridge of Translation between AI Technologists and Business

    Featured Article: Author:  Abhishek Tandon, Director, Customer Success for Fosfor, LTIMindtree Like we saw in the previous article “Crossing the AI Adoption Chasm“, there is a big gap in the objective of the technologists driving the AI project and the business user seeking value from it. This gap is causing major adoption issues as both […]

  • AI Operations: Think Software Development, not Data Science

    Featured Article: Author: Kuntal Hansaria, Associate Partner – AI, Analytics & Digital, IBM AI Governance includes aspects of Explainability (explaining how a model is working) & AI/ML Operations (scaling model development, management & deployment). While Explainability gets lot of attention, aspects of AI/ML Operations are often ignored. However, without AI Operations, an organization can never […]

  • IoT devices at risk from Amnesia:33

    A new series of vulnerabilities dubbed Amnesia:33 puts millions of IoT devices at risk of being compromised. Security researchers from Forescout disclosed the 33 vulnerabilities today. The flaws are found in four open-source TCP/IP libraries used in the firmware of products from over 150 vendors. According to the researchers’ estimates, millions of consumer and enterprise […]

  • Fintech startup Volopay raises $2.1M in seed round

    Singapore-based fintech startup Volopay has raised $2.1 million in seed funding to provide businesses and startups in the Asia Pacific region a powerful control center for all their financial needs. Singapore-based fintech startup Volopay has raised $2.1 million in seed funding. The company said it wants to use the funding to provide businesses and startups […]