The modern-day enterprises are getting smarter every day. Every eCommerce marketplace is focused on providing a personalized shopping experience with improved customer services. We came across an eCommerce platform for consumers that allows them to exchange their second hand electronics. When the consumers register on the platform, the app shows personalized product recommendations based on their age, gender, location, price availability and product rating.
They had an exceptional business model and a well researched product in place, all they needed was funds to rise above the ground. Therefore, they reached out to the Marquee Equity team and were seeking to raise funds.
“When we met and talked about their model, we found it to be a game changer. The instant we saw the passion and the amount of research they put in, we recognised its potential and were looking forward to assisting them in kick starting their business.” – Ash Narain, CMO, Marquee Equity
There is no denying the fact that the U.S. eCommerce industry has grown rapidly over the past few years. With an increase of 11%, the U.S. eCommerce market contributed to the worldwide growth rate of 29% in 2021. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development.
US consumers will spend $933.30 billion on eCommerce in 2021, up 17.9% YoY, and equaling 15.3% of total retail sales. Brick-and-mortar retail spending will grow 6.3% in 2021, to $5.149 trillion, the strongest growth rate seen since 2011. The above mentioned numbers show how adaptive US consumers are towards digital eCommerce solutions and with our client’s business model, they were already several steps closer to getting funded.
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