Welcome to the Gen-Ex Online (GenX) Limited Website store.
GenX conceived the idea of opening an e-Commerce platform and trade retail products through an online shop. GenX will manage its own product range, run affiliate programs and engage in drop shipping business so that its customers have a wide variety of items to choose from.
The concept behind choosing the name “GenX” are the different Genders that will constitute our target market while “X” factor refers to the future range of product range that we will bring to add as we move forward in time.
Our mission is to establish an online store that serves our customers’ need with commitment and dedication and to become one of the leading store of the world.
We aim to establish GenX as a leader in the online shopping industry and a store of customers’ choice by bringing innovation through technology.
We will attempt to introduce a product range that meets the demand for our customers, meets standards of high quality and is competitive through an easy to manage process.
THE ONLINE ADVANTAGE
Quicker, anytime and anywhere buying and selling platform with no geographic limitations to buy or sell, introduction of more, new and innovative products, extended outreach, use of the state of art technology, facilitation of transactions, low operational costs and better quality of services, all have changed the facet of business and have added to the growing success of e-Commerce businesses.
The business and pricing strategy for online and traditional markets are different. Traditional retailers offer a fewer variety of products because of shelf space and cost whereas online retailers often do not hold any inventory but divert customer orders directly to the manufacture. Traditional retailers base their prices on store traffic and the cost to keep inventory while online retailers base prices on the speed of delivery.
Online marketers offer lower prices, greater product selection and high efficiency rates. However, they cannot offer the physical experience that traditional retailers can, which could make it difficult to judge the quality of a product. Besides security of online transactions can be a concern for which reason many customers remain loyal to well-known retailers.
Having said that it has lately been observed that traditional large retail stores have closed their retail outlets and have moved towards opening online outlets.
QUANTUM OF ONLINE MARKET
According to various estimates, retail ecommerce sales worldwide posted solid gains in 2017, rising by 23% to $2.3 trillion and accounting for 10% of total retail sales worldwide. The share of China and the US in ecommerce sales represented 1.6 trillion or 69% of the total global ecommerce.
Retail sales are expected to grow by around 6% in 2018, reaching $2.27 trillion, largely driven by sales in China. The share of Retail ecommerce sales is expected to surpass 16% by 2021, when these sales will hit $4.48 trillion.
In 2017, mobile commerce will account for more than 70% of ecommerce sales in both China and India, and 59.0% in South Korea. In Germany, the UK and US, e-Commerce will comprise at least one-third of total retail ecommerce sales.
Dated: March 1, 2018
Our Core Values
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