Rising Smartphone Usage Propels The Growth Of Retail E-Commerce: Key Factor Driving The Growth In The Retail E-Commerce Market

The Retail E-Commerce Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Retail E-Commerce Market Size Expected to Be by 2034?
The size of the retail e-commerce market has seen a swift increase over the past few years. Its expected growth from $3317.41 billion in 2024 to $3674.9 billion in 2025, with a compound annual growth rate (CAGR) of 10.8%, indicates a thriving sector. The substantial growth experienced in the previous years is due to factors such as the convenience it offers to consumers, increased access to the Internet, shifting consumer tastes, global market expansion, and strategic promotions.

The expected size of the retail e-commerce market is set to witness fast-paced expansion in the upcoming years, with projections indicating it will reach $5780.56 billion in 2029, accumulating a compound annual growth rate (CAGR) of 12.0%. The expected growth during the projection period is predominantly due to enhancements in mobile commerce, customised shopping experiences, sustainability efforts, supply chain advancements, and macroeconomic movements. The major trends anticipated in the coming years encompass live commerce and purchasable livestreams, AI and machine learning-driven personalisation, touchless payment methods, localised and hyperlocal e-commerce, and the use of ephemeral content accompanied by limited period offers.

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What Are the Emerging Segments Within the Retail E-Commerce Market?
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: Super markets & Hyper markets, Convenience Stores, Specialty Stores, Department Stores, E-Commerce, Other Distribution Channels

Subsegments:
1) By Pure marketplace: Online-Only Platforms, Multiple Third-Party Sellers, No Inventory Ownership
2) By Hybrid marketplace: Combination Of First-Party And Third-Party Sellers, Own Inventory And Allow Third-Party Sales, Flexible Selling Options
3) By Brand: Direct Sales From Brand Websites, Focus On Brand-Specific Products, Enhanced Customer Experience And Loyalty
4) By Retail Chain: Established Brick-And-Mortar Retailers With Online Presence, Omnichannel Retailing Strategies, Integration Of Online And Offline Shopping Experiences

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What Long-Term Drivers Are Shaping Retail E-Commerce Market Trends?
The surge in smartphone utilization is significantly propelling the development of the retail e-commerce sector. A smartphone is a mobile phone that incorporates a computer and additional functionalities such as an operating system, the capability to execute software applications, and internet browsing capacities. Smartphones provide significant support to retail e-commerce by enabling the purchase and sale of goods and services via this portable wireless apparatus. For example, in January 2022, the Consumer Technology Association (CTA), an American trade organization, forecasted that smartphone shipments will attain a total of 154.1 million units, generating $74.7 billion in income in 2022, reflecting a 3% increase from the 149.6 million units in 2021. Consequently, the upsurge in smartphone utilization is propelling the retail e-commerce industry.

Who Are the Top Competitors in Key Retail E-Commerce Market Segments?
Major companies operating in the retail e-commerce market include Walmart Inc., Amazon.com Inc., Apple Inc., Costco Wholesale Corporation, The Home Depot Inc., The Kroger Co, Alibaba Group Holding Ltd., 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., Shopify Inc., Etsy Inc., IndiaMART InterMESH Ltd., IKEA AB, Ebates Inc., Taobao, Clues Network Pvt Ltd.

What Are the Major Trends Shaping the Retail E-Commerce Market?
The retail e-commerce market is increasingly popularizing the trend of technological advancement. Major retail e-commerce companies are electing to use cutting-edge technologies such as augmented reality, virtual reality, artificial intelligence, and machine learning to boost their user experience and establish market dominance. For example, Avataar, an Indian company specializing in 3D and augmented reality, unveiled a single-click integration solution for online retailers in June 2022. This turnkey solution, which is designed to integrate with e-commerce platforms like Shopify and BigCommerce, utilizes Avataar's Supernova platform - a computer vision and AI-driven 3D content creation platform to provide users with a captivating 3D AR buying experience. The innovative technology promptly scans a retailer's existing inventory and crafts photorealistic, life-size 3D product enhancements within hours. Avataar's platform further offers a comprehensive workflow management system, consisting of quality assessments and live hosting.

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Which Regions Are Becoming Hubs for Retail E-Commerce Market Innovation?
Asia-Pacific was the largest region in the retail e-commerce market in 2024. The regions covered in the retail e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Retail E-Commerce Market?
2. What is the CAGR expected in the Retail E-Commerce Market?
3. What Are the Key Innovations Transforming the Retail E-Commerce Industry?
4. Which Region Is Leading the Retail E-Commerce Market?

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