Major players in the e-commerce market are Amazon.com Inc., JD.com Inc., Suning Commerce Group Co. Ltd., Apple Inc., Walmart Inc., Dell Technologies Inc., Vipshop Holdings Ltd., Gome Electrical Appliances Holding Ltd., Macy’s Inc., Otto Group
The global e-commerce market is expected to grow from $2080.13 billion in 2020 to $2435.66 billion in 2021 at a compound annual growth rate (CAGR) of 17.1%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $4072.09 billion in 2025 at a CAGR of 14%.
The e-commerce market consists of sales of merchandise such as apparel, electronics, furniture, books, cosmetics, and other products through online channels.This industry includes e-commerce and m-commerce companies that offer home delivery services.
The sales transaction between the retailers and their customers through the use of information technology including telephone and internet and delivery of merchandise is typically done through mail or couriers. The e-commerce industry also includes direct mailers who are selling their merchandise and retailing through online websites.
Rising internet penetration and the growing use of smartphones are predicted to contribute to the growth of the e-commerce market.The growing usage of the internet and smartphones is shifting consumer preferences towards online shopping.
According to We Are Social’s special report on Digital 2020 published in January 2020, the total internet users across the globe in 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. Moreover, the number of mobile users was 5.19 billion in 2020, increased by 124 million or 2.4% in 2019. Therefore, increasing internet penetration coupled with the growing number of people using smartphones is projected to boost the demand for e-commerce market over the forecast period.
Stringent regulations and vertical restraints imposed on the e-commerce sector are expected to limit the growth of the e-commerce industry in the near future.The vertical restraints such as across platforms parity agreements (APPA), geo-blocking, most favoured nation (MFN), geo-filtering, and advertising restrictions is to act as a major challenge for e-commerce players.
For instance, according to the SSC Online Blog on the vertical restraints in the Indian E-commerce Sector published in August 2019, stated that the CCI has the power to examine any contract relating to the e-commerce sector that leads to “Appreciable Adverse Effect on Competition” (AAEC) provided under Section 3 in India. Therefore, the stringent regulation imposed on functioning and advertising makes it difficult for e-commerce players to manage its operations, thus, adversely impact the growth of the e-commerce industry over the forthcoming years.
The e-commerce market covered in this report is segmented by application into home appliances; clothing and footwear; books; cosmetics; baby goods; groceries; others.
Increasing government and companies’ initiatives to promote e-commerce sales is a leading trend in the e-commerce market.According to Entracker’ s news published in August 2019, the Union Ministry of India announced the government plan to launch an e-commerce portal names Bharat Craft in India on lines of Alibaba, an e-commerce platform in China.
This app is expected to provide a platform for MSMEs to market and sell their product, which is projected to boost the sector growth in the country.
In December 2019, Safilo Group S.p.A., Italian company engaging in designing, producing, and distribution of frames, sports eyewear, sunglasses, ski goggles and helmets, and related products, announced the acquisition of 70% stake in Blenders Eyewear LLC, a digitally native retailer for an undisclosed amount. This acquisition is aimed towards accelerating e-commerce and omnichannel strategy and expand the global presence of Safilo Group S.p.A. Blenders Eyewear LLC is a California based company engaged in providing a high-quality lifestyle and active eyewear through e-commerce platforms at affordable prices with engaging brand content.
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