In the coming years, the e-commerce sector is set for dynamic growth. This is evident from a recent report published by Forbes Advisor. Analysts project that by the end of 2024, 20.
1% of retail purchases will occur online, and e-commerce sales will grow by 8.8%. By 2027, 23% of purchases will be made online, with the e-commerce market reaching a value of $7.
9 trillion. Experts note that now is an excellent time to develop in e-commerce, as there are no signs of market slowdown. Competition in the e-commerce space will intensify among existing players and new companies planning to enter.
The companies that will gain significant advantages are those that quickly adapt to change, leverage modern technologies, and apply proven best practices in the market. We asked Tatiana Kashina , Head of Supply at Whizz, to share examples of successful solutions. Over the years, she has contributed significantly to the growth of two other startups: with her help, the turnover of the elite real estate online agency Enso in Moscow grew to $100 million in GMV per year in five years, and later, she managed to bring Canada's first fast grocery delivery service, Tiggy, to positive contribution margin within a single location in just eight months.
Based on Tatiana's experience, here's how to structure your product and company development efforts to ensure your project truly succeeds. Clearly Identify and Meet Audience Needs Both Enso and Tiggy pioneered their respective markets. Before Enso, there we.