Overview and Scope
Retail e-commerce refers to exchange of goods and services via online platform between consumers and a retail distributer.
Sizing and Forecast
The retail e-commerce market size has grown rapidly in recent years. It will grow from $6.23 billion in 2023 to $6.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to consumer convenience, expanding Internet access, changing consumer preferences, globalization of markets, promotional strategies.
The retail e-commerce market size is expected to see rapid growth in the next few years. It will grow to $10.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to mobile commerce growth, personalized shopping experiences, sustainable practices, supply chain optimization, economic trends. Major trends in the forecast period include live commerce and shoppable livestreams, personalization through AI and machine learning, contactless payment solutions, localization and hyper-local e-commerce, ephemeral content and limited-time offers.
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Segmentation & Regional Insights
The retail E-commerce market covered in this report is segmented –
1) By Type: Pure Marketplace, Hybrid Marketplace, Brand, Retail Chain
2) By Sector: Organized, Unorganized
3) By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Department Stores, E-Commerce, Other Distribution Channels
Asia-Pacific was the largest region in the retail e-commerce market in 2023. The regions covered in the retail e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the usage of smartphones is significantly contributing to the growth of the retail e-commerce market going forward. Smartphone refers to a cellular telephone with an integrated computer and other features such as an operating system, the ability to run software applications, and web browsing. Smartphones help retail e-commerce by facilitating buying and selling goods and services through this wireless handheld device. For instance, according to Oberlo, a Germany-based drop shipping company, in 2022, the number of global smartphone users were estimated at 6.6 billion, marking a 4.9% annual increase. Therefore, increase in the usage of smartphones is driving the retail e-commerce market.
Key Industry Players
Major companies operating in the retail e-commerce market report are Walmart Inc., Amazon.com Inc., Apple Inc., Costco Wholesale Corporation, The Home Depot Inc., The Kroger Co, Alibaba Group Holding Ltd., Meta Platforms Inc., Target Corporation, Dell Technologies Inc., Albertsons Companies Inc, Best Buy Co Inc., Inter IKEA Systems B.V., Hewlett-Packard Company, Macy’s Inc., Coupang Corp, Otto GmbH & Co KG, Nordstrom Inc., Wayfair Inc., Rakuten Group Inc., eBay Inc., BBC Worldwide Ltd., Shopify Inc., Etsy Inc., IndiaMART InterMESH Ltd., IKEA AB, Ebates Inc., Taobao, Clues Network Pvt Ltd., Infobae Americas
The retail e-commerce market report table of contents includes:
1. Executive Summary
2. Retail E-Commerce Market Characteristics
3. Retail E-Commerce Market Trends And Strategies
4. Retail E-Commerce Market – Macro Economic Scenario
5. Global Retail E-Commerce Market Size and Growth
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32. Global Retail E-Commerce Market Competitive Benchmarking
33. Global Retail E-Commerce Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Retail E-Commerce Market
35. Retail E-Commerce Market Future Outlook and Potential Analysis
36. Appendix
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