E-Commerce Will Transform Sri Lanka’s Business Landscape…
With strong long-term fundamentals, web and ecommerce segments in Asia forecast high growth potential in 2015 and beyond whilst growing consumer markets and the continued development of the e-commerce sector will underpin its growth prospects.
“We live in a very exciting age. US annual e-retail sales blew past the US$ 300 billion threshold for the first time, recording an unprecedented US$ 304.91 billion in 2014, up a staggering 15.4% from the previous year. Closer to home India’s e-commerce industry is slated to skyrocket by as much as 71% in 2015 and reach an incredible US$ six billion, according to Gartner. If we connect properly, India’s spillover effect could have dramatic impact on Sri Lanka’s business landscape,” opined Epitom Trinergy Founder Director Ragulan Tharmakulasingam.
According to him, e-commerce was an important and rapidly growing segment of consumption in the world’s economic powerhouse – the Asia Pacific region, with business-to-consumer e-commerce earning projected to double by 2017.
According to Internet Retailer, 500 leading e-retailers in Asia and the Pacific Rim collectively grew their 2014 web sales an estimated 57.1% (to US$139.25 billion from US$ 88.66 billion in 2013), whilst their share of all e-commerce sales in the region only amounts to 22.6%.
“Websites of today have become a prime marketing tool for modern businesses, placing even a startup or an SME on par with MNCs with big advertising budgets thanks to technology. Our goal is to open these vistas of growth to local companies so as to enjoy a larger slice of the growing ecommerce pie,” Tharmakulasingam added.
“We have a proven record of turning a website into a prime marketing avenue for our clients.”
Sri Lanka’s internet penetration is on the rise with more and more Sri Lankans using and relying on the internet for online information when it comes to most day to day decision making. As we go through this Age of Information it has shaped the consumer into the savvy information seeking shopper that we find today. This in turn has had and is still having a major impact on the retailers who earlier were completely offline but find themselves having to enter the online world, if to be a significant player in the online market place. Simply put, people are increasingly opting to purchase goods and services online rather than via the old offline methods, owing to the sheer convenience it provides in a fast paced world.
Many retailers have embraced this challenge as a new opportunity to shape and grow traditional business models even further. It has created new and innovative demands that if met correctly help the retailer become a noteworthy and successful business.
With offices in the USA, the Netherlands and in Mexico, Epitom Trinergy has already become a leader in designing and providing smart and interactive websites that help take a business to the next level. We have started concentrating our focus on Sri Lankan companies and businesses to help them reach international standards. To compete in the international arena this is a necessity as consumers expect instant information and satisfaction.
In order to be a player and be a success in the online market arena it is important not to simply have a website and forget about it. That is why, Epitom Trinergy ensures that websites designed by us are appealing, change with the changing requirements, suit the trends of the day, and are interactive and most importantly relevant so that our clients stand out from the competition.(Founder Director Ragulan Tharmakulasingam of Epitom Trinergy)