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Retail E-Commerce Market Size, Share, Growth Report 2033
Retail E-Commerce Market Size
As per the report, the retail e-commerce market size has grown rapidly in recent years. It will grow from $6.23 billion in 2023 to $6.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The retail e-commerce market size is expected to see rapid growth in the next few years. It will grow to $10.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
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Rising Smartphone Usage Propels The Growth Of Retail E-Commerce
The increase in the usage of smartphones is significantly contributing to the growth of the retail e-commerce market going forward. Smartphone refers to a cellular telephone with an integrated computer and other features such as an operating system, the ability to run software applications, and web browsing. Smartphones help retail e-commerce by facilitating buying and selling goods and services through this wireless handheld device. For instance, according to Oberlo, a Germany-based drop shipping company, in 2022, the number of global smartphone users were estimated at 6.6 billion, marking a 4.9% annual increase. Therefore, increase in the usage of smartphones is driving the retail e-commerce market.
Retail E-Commerce Embraces Technological Advancements For Enhanced User Experience
Technological advancement is a key trend gaining popularity in the retail e-commerce market. Major companies operating in retail e-commerce are focusing on using the latest technologies like augmented reality, virtual reality, artificial intelligence, and machine learning to enhance user experience and gain a competitive edge in the market. For instance, Avataar, an India-based 3D and augmented reality company launched its single-click integration solution for online retailers. To provide consumers with an engaging 3D augmented reality (AR) purchasing experience, the company's out-of-the-box product will link with e-commerce platforms like Shopify and BigCommerce. Supernova, Avataar's computer vision, and AI-powered 3D content creation platform, powers the turnkey solution, allowing retailers to swiftly produce 3D product catalogs at scale. Within hours, the proprietary technology scans a merchant's existing product inventory and produces a photorealistic, life-size 3D enhancement. Avataar's platform also provides end-to-end workflow management, which includes quality checks and lives hosting.
The retail E-commerce market covered in this report is segmented -
1) By Type: Pure Marketplace, Hybrid Marketplace, Brand, Retail Chain
2) By Sector: Organized, Unorganized
3) By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Department Stores, E-Commerce, Other Distribution Channels
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Major companies operating in the retail e-commerce market report are Walmart Inc., Amazon.com Inc., Apple Inc., Costco Wholesale Corporation, The Home Depot Inc., The Kroger Co, Alibaba Group Holding Ltd., Meta Platforms Inc., Target Corporation, Dell Technologies Inc., Albertsons Companies Inc, Best Buy Co Inc., Inter IKEA Systems B.V., Hewlett-Packard Company, Macy's Inc., Coupang Corp, Otto GmbH & Co KG, Nordstrom Inc., Wayfair Inc., Rakuten Group Inc., eBay Inc., BBC Worldwide Ltd., Shopify Inc., Etsy Inc., IndiaMART InterMESH Ltd., IKEA AB, Ebates Inc., Taobao, Clues Network Pvt Ltd., Infobae Americas
Contents of the report:
1. Executive Summary
2. Retail E-Commerce Market Report Structure
3. Retail E-Commerce Market Trends And Strategies
4. Retail E-Commerce Market - Macro Economic Scenario
5. Retail E-Commerce Market Size And Growth
…..
27. Retail E-Commerce Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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