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Global Online Retail Market Size Share Forecast 2024

Code : SMI12917
Pages : 139
Date : Nov, 2019
Category : Telecom and IT
Publisher : SMI
Format :

Purchase Options

Overview -

Online shopping is a form of electronic commerce that allows customers to directly buy goods and services from a seller over the internet by using a web browser. Consumers can find different products of their interest by visiting the website of the retailer or by using shopping search engine where products are displayed with a state of availability and pricing. The global online retail market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global online retail market is expected to witness significant growth during the forecast period, owing to the availability of a vast variety of products and convenience of buying goods.

Market Driver -

Easy availability and buying of products, door-step delivery of product, and a vast variety of products and high growth of the e-commerce industry are expected to drive growth of the global online retail market during the forecast period. According to India Brand Equity Factory (IBEF), the Indian e-commerce Industry is expected to reach US$ 200 billion by 2027 from US$ 38.5 billion in 2017. According to the same source, in 2018, e-commerce and consumer internet companies generate over US$ 7 billion in private equity and venture capital with online retail sales reaching US$ 32.70 billion. Thus, high growth of e-commerce industry is expected to boost the market growth in the near future. Furthermore, availability of various products online at a low price as compared to retail stores is expected to propel the market growth over the forecast period. Online retailers often give lucrative discounts and offer to consumers, which in turn, is expected to boost the product sales.

Market Restraint -

Risk of hacking online transactions and prevalence of counterfeit goods are expected to restrain growth of the global online retail market over the forecast period.

Regional Insight -

Among regions, North America is expected to witness significant growth in the global online retail market during the forecast period. This is owing to secured internet transactions and growing consumer awareness regarding online shopping in the region. Furthermore, Asia Pacific is expected to exhibit lucrative growth rate over the forecast period, owing to growing internet penetration and mobile usage in the region.

Competitive Section -

Key players in the global online retail market are eBay Inc., Amazon Inc., Zalando S.E., Otto GmbH & Co KG, Alibaba Group, Shopify Inc., Rakuten Inc., JD.com Inc., Flipkart, and Groupon Inc.

Key companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in June 2017, Amazon Inc. acquired Whole Foods Market Inc., a U.S.-based supermarket chain.

Market Dynamics:

Online retail has gained increased acceptance over conventional retail channels in recent years. The online retail market has exhibited high growth in both developing and developed markets. A rise in internet penetration coupled with innovative marketing strategies has led to a shift of consumer preference towards online retailing. Also, the presence of young demographic profile in developing countries has bolstered market growth in regions such as Asia Pacific and Latin America. Asia Pacific is projected to be the fastest growing region in the online retail market. Aggressive expansion by both local and international players has piqued consumer interest in purchasing online. Discounts, ancillary services and logistical services are among the strategies being adopted by market players to attract customers. Investments are being made by players across the supply chain to boost profitability. For example, Flipkart in March 2018 announced plans to set up a 100 acre logistics park in Bengaluru.

Key features of the study:

• This report provides in-depth analysis of the online retail market, market size (US$ Mn), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025)

• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players.

• It profiles leading players in the global online retail market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans

• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics

• The global online retail market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, new entrants, and financial analysts

• Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the online retail market

Detailed Segmentation:

Global Online retail Market, By Product Type: