Latest News- Digital Retailing Market: Search ads is expected to lead the Type segment during 2024-2028

The Digital Retailing Market is being driven by Rapid growth in social media

The Digital Retailing Market is expected to grow at a CAGR of 36.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1879.8 billion. The digital retail marketing market is experiencing significant growth due to the increasing preference for digital advertising channels over traditional methods. This trend is driven by several factors, including the ability to increase brand awareness, modernize marketing strategies, and enhance customer experience through digital media. Digital channels offer the advantage of unlimited access, allowing consumers to view advertisements at any time and from any location. Additionally, marketers are leveraging technologies such as geofencing to combine traditional and digital channels, delivering targeted advertising messages to consumers in real-time. These factors collectively contribute to the shift towards digital retail advertising and the growth of the global digital retail marketing market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Search ads
  • Display ads
  • Social media
  • E-mail marketing
  • Others
• Platform
  • Mobile devices
  • Desktops
• End-User
  • Retail
  • E-Commerce
  • Consumer Goods
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rapid growth in social media
• Higher brand recall in online advertisement
• Evolution of digital marketing strategies

However, the market also witnesses some limitations, which are as follows:

• Requirement for skilled workforce
• Rapidly changing marketing strategies
• Security concerns associated with digital platforms

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Market Scope in Digital Retailing Market Research Report

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Research Analysis Overview

In the Digital Retailing Market, key strategies include checkout optimization, abandoned cart recovery, website accessibility, A/B testing, personalization, customer journey mapping, marketing automation, social commerce, live streaming, virtual assistants, and omnichannel customer service. Other essential elements are email automation, dynamic pricing, supply chain visibility, inventory optimization, demand forecasting, risk management, fraud detection, data security, regulatory compliance, ethical sourcing, responsible consumption, and circular economy. Brands focus on customer satisfaction, brand loyalty, customer retention, growth hacking, analytics dashboard, business intelligence (BI), data visualization, real-time analytics, and ensuring a seamless shopping experience through various channels.

Market Research Overview

The global broadline retail market encompasses the income generated by entities offering retail services, encompassing discount merchandise sellers, department stores, and online retailers and marketplaces dealing in consumer discretionary merchandise. According to Technavio's assessment, the global broadline retail market's size is determined by the earnings of Internet retailing service providers, third-party online platform providers, door-to-door retailers, department stores, and other general merchandise companies, including those managing online marketplaces for consumer goods and services. The market's expansion will be fueled by the rising adoption of sophisticated mobile devices and extensive Internet penetration, empowering consumers to access on-demand digital retailing solutions, including e-commerce platforms, mobile shopping apps, virtual stores, omnichannel retailing, and efficient supply chain and inventory management systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/