The global retail e-commerce market size is expected to reach USD 8.6trillion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 9.4% over the forecast period. The availability of the product online at low price as compared to physical stores owing to direct sale from the manufacturer without the intervention of any third-party seller is anticipated to fuel the growth. Moreover, discounts and bundling offer to propel product sales and attract huge consumers group towards online shopping has increase the popularity of retail e-commerce. The other factor expected to drive the online purchase is cash-on-delivery facility provided by the online retailers.
Online
retail has made viewers more aware of the product as customers can see product
specifications and compare them with other alternatives. The rising smartphone
usage has fostered the global retail e-commerce industry growth in recent
years. Companies in the retail e-commerce space have been affected by the
outbreak of the COVID-19 pandemic in 2020 across the world. As many countries
introduced lockdown and closure of brick and mortar stores, consumers rushed to
online delivery to avoid moving out of their houses. This trend led to a surge in
the sales of grocery products while other luxury segments only witnessed high
traffic and low purchase.
The
Indiaretail e-commerce industry witnessed the sale and purchase of only
essential products which affected the growth of apparel and accessories, footwear,
and electronics segment sales. Additionally, U.S. has no restriction on the
online sale of any category of product, still, fashion, footwear, and
others,the industry witnessed a sluggish growth owing to consumer perception of
spending only on essential goods. Although, countries are taking the necessary
measure to revive the economy and improve the financial condition of the
citizen, the uncertain time of impact is expected to slow down the overall
market growth. The companies are anticipated to experience positive growth 2021
onwards. Additionally, the C2C market would suffer a loss due to lack of
assurance regarding the hygiene of product sold by individuals.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/retail-e-commerce-market
Retail E-Commerce
Market Report Highlights
- Retail
e-commerce is estimated to account expand at an astounding CAGR of 9.4%
over the forecast period. The higher demand for home appliance and
clothing among urban population is positively impacting the market growth
- The groceries
segment is anticipated to witness the highest CAGR of 13.1% over the
forecast period. The demand for purchasing groceries online is fueled by
the ease of receiving daily stock at the doorstep which is time saving for
working individual, couple or family
- Asia Pacific
is expected to dominate in the market during the forecast period owing to
its huge population and their indulgence in shopping online for fashion,
household, electronics, and furniture at comparatively affordable price
- The major
market players in the retail e-commerce market owingto their capability to
provide range of products under one roof and reachinlarge and small cities
across the world
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment