Ecommerce software enables merchants to offer their products to a wider consumer base and expand the options available to shoppers. The diverse advancements in retail technology demonstrate that the growth of ecommerce also inspires innovative strategies for brick-and-mortar store operations, helping the stores to be more appealing and convenient for customers. Therefore, bolstering online marketing opportunities can stimulate economic growth and foster improvements across all retail channels.

In an effort to bring some of these benefits to developing economies, the World Bank private investment group International Finance Corporation (IFC) announced that it will invest up to 25 million Euros in two online retailers that operate in Russia, Kazakhstan and Latin America. Rocket Internet, an online ventures company, launched Dafiti (which does business in Latin America) and Lamoda (which sells predominantly in Russia and Kazakhstan) in 2011.

"Internet companies are speeding up modernization of the retail supply chain in developing countries, which promotes consumer spending—a key component of economic growth," said Atul Mehta, IFC global director for manufacturing, agribusiness, and services. "Their investments in logistics, information technology and marketing are rapidly generating employment, especially for women and young people."

According to East-West Digital News, Dafiti is Latin America's foremost online fashion group and Lamoda is Russia's leading online shoe retailer. 

This entry was posted by Retail Pro on Friday, February 7th, 2014 at 4:45 am .