E-commerce and Non-Store Retail Market: Global Analysis 2024

"The Business Research Company recently released a comprehensive report on the Global Ecommerce And Other Non Store Retailers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The ecommerce & other non-store retailers market size has grown rapidly in recent years. It will grow from $4217.88 billion in 2023 to $4712.37 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to internet penetration, changing consumer behavior, mobile commerce (m-commerce), technological advancements, logistics and delivery infrastructure.

The ecommerce & other non-store retailers market size is expected to see rapid growth in the next few years. It will grow to $7328.5 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to e-commerce penetration, omnichannel retailing, personalization and ai, sustainable practices, global expansion. Major trends in the forecast period include continued e-commerce growth, live streaming and social commerce, rise of dtc (direct-to-consumer) brands, blockchain in supply chain.

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Market Drivers and Trends:

Retail companies are increasingly working towards providing customers with a seamless shopping experience and are thus working towards integrating their brick-and-mortar stores with online shopping. Omni channel retailing integrates the different methods of shopping available to consumers, such as by phone, online, or in a physical store. Retailers adopting this strategy offer customers numerous ways to purchase their products, through both online and offline channels. Thus, it is more flexible and convenient for consumers to purchase goods or services, which helps to boost sales. For example, Oasis, a UK-based fashion retailer, consolidates its e-commerce site, mobile app, and brick-and-mortar stores to provide an easier and better shopping experience. Associates working in the Oasis are provided iPads to give shoppers on-the-spot information on product availability. If an item is not in stock, the staff uses their iPads to place an online order for the customer. A similar service is provided to online shoppers. If an item is unavailable online, customers can use the company's service, wherein the retailer searches its stores for the product and ships it to the shopper.

Vending machine operators are integrating gamification techniques with their vending machines to enhance the customer experience. Gamification is the process of incorporating game-playing elements to motivate people to engage with a product or service. Due to its interactive nature between the customer and the product through the vending machine, it results in a better customer experience and an overall return rate. For instance, some of the e-commerce companies using gamification in shopping include eBay with its bidding and feedback system, Nike with it's 'winter's angry campaign,' BestBuy's Cityville Presence, and Zappos, following gamified culture and customer service. Nescafe set up a Nescafé Smoovlatté vending machine in Malaysia, which invited people to pose, sing, or dance in order to get a free bottle of the drink. The Amstel Pause vending machine in Bulgaria invited people to do nothing for 3 minutes to get a free can of beer, thus indicating the increase in gamification techniques in vending machines.

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Major Key Players of the Market:

Amazon.com Inc., JD.com Inc., Alibaba Group Holding Limited, Walmart Inc., Suning.com Group, Vipshop Holdings Ltd., Wayfair Inc., Qurate Retail Inc., Otto GmbH & Co KG, eBay Inc., Zalando SE, Rakuten Group Inc., MercadoLibre Inc., Chewy Inc., Etsy Inc., ASOS Plc, Farfetch Limited, Pinduoduo Inc., Shopify Inc., Zara SA, Hennes & Mauritz AB, Nike Inc., Adidas AG, Lululemon Athletica Inc., Under Armour Inc., The RealReal Inc., ThredUp Inc., Poshmark Inc., StockX LLC, GOAT Group LLC.

Ecommerce And Other Non Store Retailers Market 2024 Key Insights:

• The ecommerce & other non-store retailers market size is expected to see rapid growth in the next few years. It will grow to $7328.5 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Omni Channel Retailing Is Providing A Seamless Shopping Experience
• Gamification Techniques In Vending Machines
• North America was the largest region in the e-commerce & other non-store retailers market in 2023

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