Global E-commerce Industry
Thanks to convenience and increasing internet penetration, consumers are readily turning to online shopping, which has been fuelling the non-store retail market in developed countries.
Profit from B2C e-commerce represents less than 10% of overall retail revenue in established markets like the UK and France, which are expected to rise above the 10% mark in coming years. This figure falls to under 3% in less well-established B2C e-commerce markets.
Social media continues to fuel the B2B e-commerce market, which aims to boost electronic business process efficiency, reports T Systems. E-commerce is being considered as a separate, profitable field of business, and intermediary actors are updating their B2B business models while embracing aspects of social media.
Key Market Segments
In the world online retail market, electronics represent the leading market segment, with almost a 24% share in terms of value. The Americas hold a 41% stake in the world online retail market.
The online grocery market continues to expand as consumers subscribing to home-shopping extend their online activity to a growing number of areas, including the convenience of grocery shopping on the internet. The trend toward online grocery shopping is particularly strong in developed nations like the US and the UK.
Online grocery shopping is one of the fastest-growing segments within the grocery market, allowing shoppers to access a huge array of products online, compare product prices and schedule home delivery. Online outfits are rolling out this segment of their business by developing their websites, boosting stock availability and elaborating their distribution networks. Within the context of the economic downturn, online grocers are forced to compete on price as consumers can compare prices with the click of a button.
Regional Market Share
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In the US online retail market, electronics is the leading market segment, which represents more than 23% of the overall market in terms of value.
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In the EU online retail market, electronics is the leading market segment, which represents more than 25% of the overall market in terms of value.
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In the online retail market in the Asia-Pacific region, electronics is the leading market segment, close to 21% of the overall market in terms of value.
Industry Leaders
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Leading players operating in the global e-commerce industry include Groupon, eBay and Amazon. There are hundreds of actors within the B2B and B2C e-commerce market.
Market Outlook
The global e-commerce market is set to continue showing strong growth due to the convenience factor. With widespread internet penetration and a growing trend toward reliance on online options, consumers are increasingly in the habit of carrying out a growing number of activities online, from social networking to shopping.
The growing consumer base for mobile devices means that people are more and more accustomed to accessing the internet from anywhere and at any time, be it to purchase goods and services or to use online content. Making consumers aware of the safety of mobile payment will be an important factor for e-commerce market growth moving forward.
Leading Industry Associations
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American E-Commerce Association www.aeaus.com
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E-Commerce Merchants Trade Association www.ecmta.org
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European E-Commerce and Mail Order Association www.emota.eu
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Pan Asian E-Commerce Alliance www.paa.net
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E-Commerce Asia Association http://ecaa.jp
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E-Commerce Alliance of Singapore www.ecommerce.org.sg
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Maritime E-Commerce Association (UK) www.meca.org.uk
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Interactive Media in Retail Group (UK) www.imrg.org
