According to IMARC Group’s latest report, titled “,” the global e-commerce market reached a strong growth in 2020. E-commerce is a business model that assists in buying and selling goods and services and transferring funds over the internet. It mainly relies on technologies, such as mobile commerce, online transaction processing, internet marketing, inventory management systems, electronic data interchange (EDI), and automated data collection systems, for conducting business. It offers numerous benefits to the seller, including a wider reach, minimal transaction costs, higher margins of profit, and direct communication between the parties involved.
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Market Trends:
The market is currently experiencing growth on account of the increasing internet penetration and boosting sales of smart devices. Besides this, the rising influence of social media and the convenience offered by online shopping, such as free delivery and easy return policies, is also strengthening the growth of the e-commerce market. Additionally, the outbreak of coronavirus disease (COVID-19) has favorably impacted the market as people are ordering essentials and non-essential items online to prevent the spread of the pandemic and maintain social distance.
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Market Breakup by Type:
- Products
- Home Appliances
- Apparel, Footwear and Accessories
- Books
- Cosmetics
- Groceries
- Others
- Services
- Financial
- Digital Content
- Travel and Leisure
- Others
Market Breakup by Transaction:
- Business-to-Consumer
- Business-to-Business
- Consumer-to-Consumer
- Others
Competitive Landscape with Key Players:
- Alibaba Group Holding Limited
- com Inc.
- Apple Inc.
- B2W Companhia Digital (Lojas Americanas S/A),
- Ebay Inc.
- Groupon Inc.
- Rakuten
- Walmart Inc.
- Zalando SE
Also Read Latest Blog Top Players E-Commerce Industry
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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