Commerce clouds offer a specialized view for B2B as well as B2C businesses. Between the two, the B2C segment is larger due to the sheer scale of services offered and the need to understand and analyze data pertinent to an enterprise. B2B commerce cloud focuses on analyzing the economic relationship between two businesses in the long term, with special emphasis on logical planning. The B2C commerce cloud focuses on understanding consumer behavior with an emphasis on the products and services offered. This model keeps updating in the short term and basis itself on the emotional understanding of consumers keeping in mind short buying cycles. Considering the 1.7 billion online shoppers in 2017 and the increasingly competitive nature of e-commerce, a B2B model is crucial in gaining an understanding of consumer behavior and the concurrent inventory and transaction management that must go with it. In India alone, logistics costs stand at 14% of GDP, a very large amount when compared to other economies due to the fragmented nature of the logistics sector. Employing commerce cloud can help reduce this number drastically.
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The applicability of cloud commerce is vital across all business verticals. Fashion and apparel are B2C enterprises and must understand consumer behavior to better their inventory and maximize sales. Cloud commerce is critical for this industry, especially for the SMEs operating within it, due to the intense competition at that level. Electronics, books, and furniture are all consumer-driven goods which will benefit tremendously from cloud commerce’s ability to understand consumer behavior as well as the requirements of the market. Quick service restaurants have slim profit margins and can only be sustainable business models after specializing the products offered. This is facilitated easily by commerce cloud applications that offer a unique solution to each of these businesses. Grocery and pharmaceuticals is another segment that must prioritize inventory management and seamless transactions to retain customer base. It is easy for relevant data to be collated and analyzed if these businesses utilize cloud commerce. Beauty products and cosmetics are perhaps the most reliant on consumer behavior and must employ commerce cloud in order to maximize profitability and anticipate consumer demand. The global cloud commerce market is being driven due to the excellent results employing this service has on businesses.
Also Read: https://www.medgadget.com/2020/08/covid-19-outbreak-impact-on-medical-device-reprocessing-market-2020-global-industry-size-technology-trends-analysis-top-company-countries-share-regional-statistics.html
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