North America has one of the Highest Internet Usage Rates Fueling a Strong E-Commerce Market
FinancialNewsMedia News Commentary – The Global e-Commerce industry has been one of the industries to actually grow because of the pandemic! Increasing penetration of internet is bolstering the smartphone using population across the world. Digital content, travel and leisure, financial services, e-tailing among others constitute a variety of e-commerce options available to the internet accessing customer base that are gaining momentum with increased internet usage. Hence, technological awareness among customers is expected to have a positive impact on market growth. The growing importance of faster browsing has led to the development in the connectivity, thus leading to development in 4G and 5G technology. All of this will lead to the growth of e-commerce. A report from Grand View Research said that the global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. The report said: “Implementation of 4G and 5G technology for the connectivity purpose is expected to have a positive impact on the market growth as it provides an uninterrupted, seamless experience to the user. Moreover, the adoption of smartphones is gaining momentum at a significant rate, thus increasing the exposure of online shopping for the customer. Therefore, the growing use of smartphones is projected to propel the market growth over the forecast period.” Active Companies in the markets today include Grove, Inc. (NASDAQ: GRVI), Criteo S.A. (NASDAQ: CRTO), LiveRamp (NYSE: RAMP), Digital Turbine, Inc. (NASDAQ: APPS), Perion Network Ltd. (NASDAQ: PERI).
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Grand View Research continued: “Increasing number of small and medium enterprises is also projected to escalate the demand over the forecast period. Small and medium businesses are growing at a significant rate, especially in India, South Africa, and Russia. Initiatives such as Make in India and Start-up India have led to an increased number of start-ups in the country, which adopt the online marketplace for business, thus powering the market growth. Moreover, increasing consumer wealth is estimated to propel the market growth over the forecast period. Established organizations and large enterprises are leaning towards online business due to lesser expenditure in communication and infrastructure. E-commerce offers the organization an easier reach for the customers, and hence necessary exposure to business is also achieved. E-commerce is also driven owing to the increasing importance of online marketing tools, such as Google ads and Facebook ads. Nowadays, the marketing options are in abundance due to the popularity of social media applications, which, in turn, helps in driving the market for e-commerce towards growth trajectories.”
Grove, Inc. (NASDAQ: GRVI) BREAKING NEWS: Grove Inc. Launches “Fund Your Brand” Option for f Amazon Aggregation Initiative- Grove, Inc. (“Grove” or the “Company”) a global innovator in hemp, health, and wellness, today announced the launch of “Fund Your Brand” option on f Upexi, its wholly owned division to acquire promising Amazon and Ecommerce businesses.
In addition to buying and scaling Amazon and Ecommerce brands, Grove Inc.’s Upexi unit will provide capital to growing brands in need of funding.
Upexi has two operating segments: one that buys and scales Amazon and e-commerce brands, and one that provides funding to proven brands in need of capital to accelerate growth. Grove’s investment will include funding and assistance with growth in the Amazon ecosystem and direct-to consumer markets for a perpetual royalty on the future sales of the brands products.
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Grove Inc. recently launched Upexi to use its market and e-commerce expertise in the Amazon aggregation market, which, according to Marketplace Pulse, has attracted more than $10 billion in funding since 2020.
Grove Inc. has made a name for itself in the Wellness space, growing 2021 fiscal revenues to $24.1 million, a 250% increase from the year prior. The company hopes to apply a similar growth model to other brands they acquire or fund through Upexi, although there are no guarantees of similar success given industry, market and economic forces.
“Between Amazon’s ecosystem and the meteoric rise of e-commerce over the last few years, direct-to-consumer brands are growing bigger and faster than ever,” says Chief Marketing Officer Nathan Stavseth. “Our goal is to identify winning D2C brands on the cusp of exponential growth, bring them into our ecosystem, and help them reach their full potential.”
