Global E-Commerce Market 2016-2020
E-commerce or online retail refers to web-based buying and selling of products and services. Despite traditional retailing having a significant market share in the global retail market, e-commerce has gained considerable traction in last five years. Within the e-commerce space, the B2C space is the fastest growing segment, which is attracting the interests of global e-commerce sites like Amazon and Alibaba.
Technavio’s analysts forecast the global e-commerce market to grow at a CAGR of 19.42% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global e-commerce market for 2016-2020. To calculate the market size, the report considers e-commerce sales through desktops only.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global E-Commerce Market 2016-2020
Technavio recognizes the following companies as the key players in the global e-commerce market: Alibaba, Amazon, Apple, eBay, and PayPal.
Other Prominent Vendors in the market are: ASOS, Barnes & Noble, Best Buy, Costco, GameStop, Groupon, J. C. Penney, Kohl's, Liberty Interactive, LL Bean, Lowe’s, Macy's, Newegg, MasterCard, Sears Holdings, Softcard, Staples, Target, The Home Depot, Visa, and The Wal-Mart Stores.
Commenting on the report, an analyst from Technavio’s team said: “Webrooming is just the opposite of showrooming and is a major trend in the e-commerce market where the customers read the reviews of the product and buy it in the store. Retail vendors are also increasing their online presence mainly because consumers prefer not to make the purchase if the product has a minimal online presence.”
According to the report, increase in social media advertising will be a key driver for market growth. E-commerce is fast embracing the social media platforms as these are seen as an ideal platform to acquire new clients and customers. As the social media penetration is rapidly increasing, e-commerce advertisers are using display banner ads and sponsored content to attract customers. Social media is becoming popular platforms for engaging the audience effectively and measuring the impact of an ad. The posts on social media platforms such as Facebook and Twitter generate traffic to the company's website and increase the awareness about the company's services and products offered to a large customer base, which thereby increases credibility.
Further, the report states that retaining customer's interest is one of the biggest challenges faced by e-commerce vendors. In offline retail stores, staff members help the buyers pick the right product or engages them in such a way that they end up buying a product. However, in e-commerce, customers have complete control over their buying decisions. Thus, it becomes difficult for an e-commerce vendor to engage customers. If their webpage or mobile application is not appealing or interactive enough, they will be losing customers to competitors. Therefore, vendors are using SEO techniques to enhance their presence, and collecting data from cache files and social networks to learn about customer preferences.
Alibaba, Amazon, Apple, eBay, PayPal, ASOS, Barnes & Noble, Best Buy, Costco, GameStop, Groupon, J. C. Penney, Kohl's, Liberty Interactive, LL Bean, Lowe’s, Macy's, Newegg, MasterCard, Sears Holdings, Softcard, Staples, Target, The Home Depot, Visa, The Wal-Mart Stores.
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