Industry – e commerce market

Market overview 

E-commerce market is one of the most profitable industries now, as its requirements not a lot and even if you have a business it’s not hard to transform your business to be e-commerce to reach to more clients and increase the sales.

The consumer demand had been increased, as more than customers simply feel that online shopping is a more convenient than going to purchase from a physical store.

The total global retail ecommerce sales is projected to reach $4.5 trillion by 2021. (According to Shopify, 2018), and 92 billion the estimated number of global digital buyers in 2019. It’s expected to reach 2.14 billion by 2021.

In 2018, One of the leading online retailers was Amazon with net revenue $232. 28 billion.

Global platforms 

Regarding to the global market share of leading ecommerce platforms, based on website adoption rates :

  • WooCommerce
  • Shopify
  • Magento
  • MonsterCommerce
  • VirtueMart

Regarding to the global market share of leading ecommerce platforms, based on websites’ traffic share :

  • % of traffic share

Global leaders in 2017

  • China: $672 billion in annual online sales, accounting for 15.9% of total Chinese retail sales.
  • United States: $340 billion in annual online sales, which is 7.5% of total American retail sales.
  • United Kingdom: $99 billion in sales, annually, accounting for a decent 14.5% of total British retail sales.
  • Japan: $79 billion in annual e commerce sales, which stands for 5.4% of total retail sales.
  • Germany: $73 billion in annual e-sales, with an 8.4% share of total retail sales.
  • $billion

Challenges

Event there’re many opportunities, there’re also many challenges that face the e-commerce market :

  • Choosing the right technologies
  • Keep long-term profits
  • Capture qualifies leads and retaining customers (As there’re many alternatives)

And many other challenges that effect the e-commerce industry.

Opportunities 

There’re many opportunities the e-commerce industry has :

  • Increasing the no. of the customers who prefer to buy online, as they can buy any where and any time
  • It’s very profitable market, as e-commerce is a $2.2 trillion market
  • Requirements to start not a lot (Basically : Good website with payment gateway integrated )

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