Smart Shopping, Smarter Homes: The Boom of E-Commerce in Household Appliances
The global e-commerce household appliances market size is expected to reach USD 148.6 billion by 2028, registering a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. This can be attributed to the growing demand for household appliances on e-commerce portals from developed as well as developing countries. Integration of communication and advanced technology to build convenient and energy-efficient appliances for improved lifestyles are some factors anticipated to drive the growth of this target market. Furthermore, the ease of access to consumers by online payment banking solutions such as online banking, UPI, debit and credit cards, etc. is expected to further drive the demand for online platforms. Increasing needs for differentiated services and products have led to a surge in investments in research and development activities. The augmented number of dual-income households along with insufficient time for...