[Latest] Global Retail E-Commerce Market Size, Forecast, Analysis & Share Surpass US$ 7.9 Trillion By 2032, At 8.5% CAGR

The Global Retail E-Commerce Market was at US$ 3.5 Trillion in 2022 and is growing to approx US$ 7.9 Trillion by 2032, with a CAGR growth of 8.5%, 2023 and 2032

AUSTIN, TEXAS, UNITED STATES, November 29, 2023 /EINPresswire.com/ -- According to the study, The Global Retail E-Commerce Market¹ was estimated at USD 3.5 Trillion in 2022 and is anticipated to reach around USD 7.9 Trillion by 2032, growing at a CAGR of roughly 8.5% between 2023 and 2032.

Report URL: https://www.custommarketinsights.com/report/retail-e-commerce-market/

Global Retail E-Commerce Market²: Overview

Retail e-commerce has become an integral part of modern consumer shopping behavior, offering a wide range of product categories and sales channels to cater to diverse consumer preferences.

Global Retail E-Commerce Market: Growth Drivers

Retail E-Commerce Market: Growth Factors and Dynamics

Consumer Convenience: Retail e-commerce thrives on the convenience it offers to consumers. It allows shoppers to browse, select, and purchase products from the comfort of their homes or on-the-go, 24/7.

Product Diversification: E-commerce caters to a wide range of product categories, from electronics and fashion to groceries and beauty products, providing consumers with a diverse shopping experience.

Digital Transformation: The digital transformation of businesses and the rise of online marketplaces have propelled e-commerce into a dominant retail force.

Mobile Commerce: The proliferation of smartphones has significantly contributed to the growth of mobile commerce, with mobile apps and responsive websites making shopping more accessible.

Global Expansion: E-commerce platforms have expanded internationally, reaching untapped markets, which has contributed to the global growth of online retail.

Social Commerce: The integration of social media with e-commerce has created new sales channels and avenues for businesses to engage with consumers directly.

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Key Insights:

A) As per the analysis shared by our research analyst, the Global Retail E-Commerce Market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2032).
B) In terms of revenue, the Global Retail E-Commerce Market size was valued at around USD 3.5 Trillion in 2023 and is projected to reach USD 7.9 Trillion by 2032. Due to a variety of driving factors, the Market is predicted to rise at a significant rate.
C) Amazon’s Acquisition of Whole Foods Market: Amazon’s acquisition of a grocery retail chain, Whole Foods Market, expanded its reach into the food and grocery e-commerce segment.
D) Alibaba’s Investment in Lazada Group: Alibaba’s investment in Southeast Asian e-commerce platform Lazada strengthened its presence in the Southeast Asian market.
E) E-commerce Acceleration: The COVID-19 pandemic accelerated the adoption of e-commerce as lockdowns and social distancing measures prompted a surge in online shopping.
F) Logistics and Supply Chain: Ensuring efficient logistics and supply chain operations became crucial to meet surging e-commerce demand.

Press Release For Global Retail E-Commerce Market: https://www.custommarketinsights.com/press-releases/retail-e-commerce-market-size/

Regional Landscape

North America:

North America, led by the United States, has a mature e-commerce market with widespread consumer adoption.
E-commerce platforms continue to innovate and expand into various product categories.

Europe:

Europe, with countries like the UK and Germany, has a strong e-commerce presence, with a focus on fashion, electronics, and groceries.
European consumers value convenience and digital payment options.

Asia-Pacific:

Asia-Pacific, particularly China and India, has a rapidly growing e-commerce market with a strong mobile commerce emphasis.
E-commerce platforms in the region cater to a diverse set of consumer preferences.

Latin America:

Latin America, including countries like Brazil and Mexico, is seeing the growth of e-commerce, especially in the fashion and electronics sectors.
Regional e-commerce platforms are gaining traction in these markets.

Middle East and Africa:

The Middle East and Africa region is witnessing e-commerce growth, particularly in the beauty and personal care, and food and grocery segments.
The adoption of digital payment methods is on the rise in this region.

Rest of the World:

Various countries across the world are experiencing a growing interest in e-commerce, presenting opportunities for global and local players.
E-commerce adoption is driven by factors like improved connectivity and digital literacy.
This report provides insights into the dynamic and evolving landscape of the Global Retail E-Commerce Market, highlighting its growth drivers, challenges, and regional variations.

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Key Players

Amazon.com Inc.
Alibaba Group Holding Limited
JD.com Inc.
Walmart Inc.
eBay Inc.
Shopify Inc.
Rakuten Inc.
Zalando SE
ASOS Plc
Flipkart Online Services Pvt. Ltd.
Noon AD Holdings Limited
MercadoLibre Inc.
Others

The Global Retail E-Commerce Market is segmented as follows:

By Product Category

Electronics and Appliances
Fashion
Home and Furniture
Beauty and Personal Care
Books and Media
Toys and Hobby
Food and Grocery
Others

By Sales Channel

Online Marketplaces
Direct to Consumer
Social Commerce
Online Retailers

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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¹ https://www.custommarketinsights.com/report/retail-e-commerce-market/
² https://www.custommarketinsights.com/press-releases/retail-e-commerce-market-size/
³ https://www.custommarketinsights.com/