E-Retail Market Size, Share And Development By 2026 | Fortune Business Insights
The increasing smartphone penetration is the chief factor aiding the expansion of the E-retail market says Fortune Business in a report, titled “E-Retail Market Size, Share and Global Trend by Type (Marketplace, third-party e-retailers, Own website), By Products Category (Clothing and Footwear, Accessories and others) and Geography Forecast till 2025”. The global E-retail market, which was valued at US$ 2,500 Bn in 2018, is expected to reach US$ 5000 Bn by 2022.
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Easy Return Policies And Discounted Rates Are Attracting Buyers To E-retail Platforms
A platform which allows customers to buy goods directly from the seller over the internet is mainly known as e-retail or electronic retail. E-Retailing can be accessed through a website or mobile application that includes Business to customers and business to business for sales of products and services. Aspects which contribute heavily to the e-retail market growth are the easy returns policy, discounts and bundling offers available im e-retail. Several organizations are benefitting from advancements of augmented reality which is also the reason for the growth of E-retail sales globally. It also gives new brands quick access to the market, which is a key reason enabling growth in the market..
Top Players List:
- Yaskawa Electric Corporation
- FANUC America Corporation
- KUKA Robotics
- Kawasaki Robotics
- Panasonic USA
- Nachi Robotic Systems, Inc.
- Yamaha Robotics Partner UK
- Epson Latinoamérica
- Adept Technologies Inc.
- Artech Automation AS
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Key Market Driver
- Increase in smartphone adoption globally with growing internet penetration.
- Implementation of augmented reality techniques including virtual fitting rooms, voice-driven searches etc.
Key Market Restraint
- Inconsistency in delivery of goods and insufficient banking infrastructure resulting in failure of payments.
1. By Type
- Third party e-retailers
- Own website
2. By Products Category
- Clothing and Footwear
- Home Appliances
- Food and Personal Care
- Furniture and Home Décor
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)
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Walmart Acquires India’s Biggest E-Commerce Platform Flipkart, Venturing Into E-Retail Market An Acquisition Forecast to Give Impetus to the Market
Walmart’s investment is predicted to be of extreme importance for India and is likely to boost the e-retail market. This will also strengthen the connection between buyers and seller thus driving the global e-retail market. The outcome of the deal resulted in the largest exit for private equity and venture capital investors in India. The E- retail market is directly influencing the micro, small and medium enterprises (MSME) in India. The provisional means of financing, technology and training has a tumbling effect on other industries too. The Indian E-retail market has been on a rising development and is likely exceed and become the second biggest e-commerce market in the world in the coming years.
North America to Witness Growth at a Considerable Rate due to the Presence of Amazon and Other Leading Players
The e-retail market in North America is expected to grow at a significant rate during the forecasted period. The globally the penetration of mobile internet is likely to elevate from 43% to 61%, during the year 2017-2025. This is a key aspect, supporting the expansion of the e-retail industry. Furthermore, it is projected that 51% of Americans prefer online shopping which is backed by more than 73% of mobile internet penetration rate in 2018. Moreover, it is predicted, Asia Pacific will swiftly become the largest region for the online e-retail market, especially on account of lucrative opportunities in countries such as India and China.
The mobile internet penetration rate in Europe was more than 72% in 2018 along with secured internet transactions. The UK comprises the largest e-commerce market in Europe, followed by Germany France. Latin America, Brazil. Consumers in the country are in the habit of using credit cards and digital options for payments. The convenience of making payments is a key factor impelling growth in the regional market. The Middle East and Africa market is expected to experience low growth in the e-retail market, on account of the factors such as high preference of paying cash, unreliable shipping in the region, and lack of internet services.
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.
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