For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Global online sales reached US$749.5 Billion in 2015, growing at a CAGR of 14.9% during 2010–2015. Most retailers are focusing on omni-channel strategies, in addition to integrating their logistics and supply chain with existing players such as courier services and postal services. In addition, click and collect services are increasing in popularity as it is perceived as a convenient delivery method. The global online market is expected to grow at a CAGR of 14.8%, to reach US$1,493.6 Billion in 2020, adding US$747 Billion in sales value.
The global online market is expected to see a like-for-like growth rate over the next five years compared to 2010-2015. The growth is primarily driven by the rise in internet and smartphone penetration, unending innovations in payment systems, and the consistent streamlining of logistic services, along with exclusive deals and discounts being offered by e-retailers.
The online channel has seen notable growth over the last five years; increased internet penetration and the high sales of smartphones, coupled with increasing awareness across various regions, are some of the major driving forces for online retail growth. M-commerce is seeing widespread adoption as consumers become more comfortable with shopping ‘on the go’. High mobile internet speeds for the majority of the global population also help this trend.
Food and grocery is the fastest-growing category group. The category is expected to grow at a CAGR of 20.7% in 2015-2020, largely driven by the wider range of products available at affordable prices from online retailers, and increased innovations by online grocery retailers in delivering groceries on the same day.
Online retail sales in India are forecast to grow at a CAGR of 48.2% in 2015-2020. Indonesia is the second fastest-growing online retail market, at a CAGR of 33.6%, followed by Mexico and China with 27.4% and 24.8% respectively. In 2015, online retail sales as a proportion of total retail sales were the highest in the UK, accounting for 14% of total retail, followed by Finland and Austria. In Europe, the UK is the most developed and mature online retail market. A robust internet infrastructure, high internet penetration, increasing broadband speeds, and better support infrastructure such as Collect+ and Doddle services, have been driving the UK online retail market. Additionally, the MEA region is also seeing impressive growth in online retail sales. Saudi Arabia and South Africa are expected to grow at a CAGR of 24.7% and 22.3% respectively.
Retailers are making an effort to make the entire process of online shopping easier and more secure. An increase in delivery options, ease of product comparison, multiple payment options, simpler return policies, and extended product portfolios have all augmented the growth of this channel.
The report “Global Online Retailing, 2015-2020; Market Dynamics, Online Trends and Competitive Landscape” provides an essential overview of the global online retail market, highlighting the largest and fastest growing online markets across the globe. Furthermore, it provides analysis of the latest trends, market dynamics (covering 9 category groups) and key innovations in the online retail space in major countries across the four regions, Americas, Europe, Asia-Pacific and Middle East and Africa. It also helps to monitor the competitive landscape with the analysis of key international players across the four regions and identify the largest and fastest growing categories in major countries across the four regions.
Companies mentioned in this report: Amazon Inc, ebay.com, Saksfifthavenue.com, Mercadolibre, Target.com, Walmart.com, Amazon, Otto, Rue du Commerce, eBay.co.uk, El Corte Ingles, Yoox.com, Vente-privee.com, Tesco, Utkonos.ru, OZON, Flipkart.com, Rakuten, Snapdeal, Amazon, Alibaba, eBay, Coupang, JD.com, Takealot, Zando, SOUQ, Jumia, LetsTango.com and Namshi.