The global e-commerce market grew at a CAGR of around 18% during 2014-2019. E-commerce, or electronic commerce, refers to the commercial transactions that are conducted electronically through the internet. It involves buying and selling consumer products, marketplace services and customer support, along with other activities, such as online auctions, payment gateways, online ticketing and internet banking. E-commerce is usually classified based on numerous business models, which include Business to Business (B2B), Business to Customer (B2C), Customer to Business (C2B) and Customer to Customer (C2C). It offers various benefits to the seller, such as a global reach, minimal transaction costs, higher margins of profit, direct communication between the parties involved and quick delivery of goods and services.
Rapid urbanization across the globe is one of the key factors driving the growth of the market. Furthermore, increasing internet penetration and usage of devices, such as smartphones, laptops and tablets to access e-commerce portals, is also providing a boost to the market growth. E-commerce enables organizations to conduct business without maintaining a physical presence, thereby minimizing the infrastructure, communication and overhead costs. The market is further driven by the increasing preference for online shopping, especially among women, and the growing influence of social networking platforms on shopping habits. Online retail channels provide a hassle-free shopping experience to the consumers while displaying a wide variety of products to choose from, at affordable price-points. Additionally, the advent of private-label and direct to consumer-based business models is also creating a positive outlook for the market growth. This enables the organizations to collect and use consumer data and provide personalized products and experiences to the consumer. The spread of the coronavirus disease (COVID-19) has provided a further push to e-commerce activities as customers shift toward online platforms for ordering essential items amid lockdown and social distancing measures. Looking forward, IMARC Group expects the market to continue its double-digit growth during the next five years.
Breakup by Product Type:
Clothing and Footwear
Breakup by Transaction:
Breakup by Service Type:
Travel and Leisure
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Alibaba Group Holding Limited, Amazon.com Inc., Apple Inc., B2W Companhia Digital (Lojas Americanas S/A), Ebay Inc., Groupon Inc., Rakuten, Walmart Inc., Zalando SE, etc.
Key questions answered in this report:
How has the global e-commerce market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global e-commerce market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the transaction?
What is the breakup of the market based on the services?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global e-commerce market and who are the key players?
What is the degree of competition in the industry?