Press release
Online Retail market 2021-2027 Worldwide Major Growth By Key Players: Amazon Inc., Alibaba Group, eBay Inc.,
Online Retail market
Online retail has gained increased acceptance over conventional retail channels in recent years. The online retail market has exhibited high growth in both developing and developed markets. A rise in internet penetration coupled with innovative marketing strategies has led to a shift of consumer preference towards online retailing. Also, the presence of young demographic profile in developing countries has bolstered market growth in regions such as Asia Pacific and Latin America. Asia Pacific is projected to be the fastest growing region in the online retail market. Aggressive expansion by both local and international players has piqued consumer interest in purchasing online.
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Detailed Segmentation:
Global Online retail Market, By Product Type:
Fashion
Media & Entertainment
Beauty & Personal Care
Furniture
Food & Beverages
Sports & Recreation
Electronics
Toys
Others
According to the industry trade association Associated Chambers of Commerce and Industry in India (ASSOCHAM), the online retail market in India was valued at US$ 38.5 billion in 2017 and is expected to reach US$ 50 billion by 2025. This is due to increasing internet penetration in the country. According to the Internet and Mobile Association of India (IAMAI), the number of internet users in the country is expected to surpass 500 million by June, 2018.
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The food & beverages segment is a major opportunity area for market players. So far, growth of online retail of food & beverages has been slack due to concerns over quality and freshness of products. Amazon Fresh is a service from Amazon Inc. which offers same day delivery of grocery items. Similar services have emerged in countries such as India, China and U.K. albeit by local players such as iFresh, Grofers and Sainsbury. All these services offered by these players at discounted offerings and free delivery services have the potential to boost the food & beverages segment.
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