DUBLIN--(BUSINESS WIRE)--The "E-Retail Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
In today's world, the best way to capture consumers' attention and wallet share is to provide seamless, vibrant shopping experiences that go across channels. Today's shoppers have broadly adopted the convenience of shopping online so much that online retail sales continue to grow in double-digits, while brick-and-mortar retail sales are growing in low single digits, or are receding.
- As a result, retailers are making significant reserves to capitalize on the chance to grow market share and increase revenues. These investments in e-commerce and related digital capabilities can be improved by targeting new markets around the world.
- E-commerce is expected to become the largest retail channel in the world by 2021, outpacing sales through retail outlets, like supermarkets, independent grocers, and apparel and footwear retailers, among others.
- Global retail e-commerce sales recorded a steady growth of 10.1%. This growth in share was largely influenced by Asia-Pacific, where 14.6% of the overall retail spending went to e-commerce. In the digitally maturing markets of Central and Eastern Europe, as well as parts of Southeast Asia, e-commerce accounted for less than 5% of the retail sales. The same was true for regions where economic factors had slowed down the e-commerce sales growth, such as Latin America and the Middle East & Africa.
Key Market Trends
Asia-Pacific - Home to Digital Powerhouses
- E-commerce is expected to become the largest retail channel in the world, accounting for 14% of the total retail sales by 2021, outpacing sales through retail outlets, like supermarkets, independent grocers, and apparel and footwear retailers, among others.
- However, its future adoption is not likely to be evenly distributed across the world. E-commerce is already leading the way in Asia-Pacific, with 13% penetration rate, and it is expected to reach the top spot in Western Europe within the next five years. Retailers may need to tailor their digital strategies appropriately by region, country, and category.
- In 2017, e-commerce became the leading retail channel in Asia-Pacific, driven by growth in two countries, namely, South Korea and China.
- South Korea became the first country in the region where e-commerce became the number 1 channel, in 2013, with 11% penetration rate of the total retail sales. The best digital infrastructure in the world, combined with a high propensity to embrace the latest technology, led the digital revolution.
- Though e-commerce rose to the top in South Korea three years earlier than China, China has now become the digital powerhouse in Asia-Pacific and the world.
- China's leading retailers, Alibaba and JD.com, have built retail ecosystems with the best selection and range of prices, while solving the challenges around logistics and payments. Both continue to improve upon the digital experience, speeding up delivery and expanding product categories.
More Consumers are Buying Fashion Online
- Fashion is the second-largest retail category after grocery. The shift toward e-commerce is a significant, palpable movement in most economies. A quarter of spending on clothing, accessories, and footwear (fashion) already occurs online and, is still rapidly growing.
- The penetration rate of buying fashion online is roughly twice that of the overall retail sales. Global forecast shows that e-commerce accounted for nearly 25% of the total fashion sales, compared to 13% of the total retail sales in 2018. Of the 58% of global online consumers who made purchases online in 2018, about half were shoppers of clothing, accessories, or footwear.
- Online marketplaces, like Amazon, are key purchase influencers in a fashion shopper's purchase journey. Shoppers are spending more time on marketplace sites to discover and research products, which is providing retailers insights into buyers' purchase decisions.
- Artificial intelligence and machine-learning tools allow retailers to leverage this wealth of consumer data toward responsive design and better product recommendations. This enables marketplaces to launch private-label fashion brands for entry-level customers (for example, Moda Rapido, and Here and Now by the Indian online fashion retailer Myntra) and provide a superior customer experience.
The report provides an overview of the major international players operating in the e-retail market. Currently, some of the major players are dominating the sector, in terms of revenue share. However, minor companies (mid-size and small) are focusing on improving their presence, by securing new contracts and entering into new markets.
Key Topics Covered
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Scope of the Study
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Customer Behavior Analysis
4.3 Evolving Market Trends in E-retailing
4.4 E-retailing Deliveries by Sector & Parcel Size
4.5 Major Footraces in the E-retail Market
4.9 Porter's Five Forces Analysis
4.10 Technology Snapshot
5 MARKET SEGMENTATION
5.1.1 North America
5.1.3 Middle East & Africa
5.1.5 Latin America
5.2.1 Electronics & Media
5.2.3 Food & Personal Care
5.2.4 Furniture & Appliances
5.2.5 Toys & Baby Products
5.2.6 Other Products
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.3 Alibaba Group Holdings Ltd.
6.1.4 Jingdong (JD.com Inc.)
6.2 Insights on Mass Merchandisers and E-commerce Practicers (such as Walmart, Costco, Best Buy, etc. across the globe)
7 INVESTMENT ANALYSIS ON THE E-RETAIL MARKET
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
9.1 Most Popular Products Sold via E-retail
9.2 Social Media Holds the Key to the Future of E-commerce
9.3 Creating Unique In-store Experience with Digital Transformation
9.4 Types of Electronic Commerce - B2B, B2C, and C2C
9.5 Country Rankings of E-commerce Markets by Key Segments
For more information about this report visit https://www.researchandmarkets.com/r/a5jpte