The increasing smartphone penetration is the chief factor aiding the expansion of the E-retail market says Fortune Business in a report, titled “E-Retail Market Size, Share and Global Trend by Type (Marketplace, third-party e-retailers, Own website), By Products Category (Clothing and Footwear, Accessories and others) and Geography Forecast till 2028”. The global E-retail market, which was valued at USD 2,500 Bn in 2018, is expected to reach USD 5000 Bn by 2022.
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Easy Return Policies And Discounted Rates Are Attracting Buyers To E-retail Platforms
A platform which allows customers to buy goods directly from the seller over the internet is mainly known as e-retail or electronic retail. E-Retailing can be accessed through a website or mobile application that includes Business to customers and business to business for sales of products and services. Aspects which contribute heavily to the e-retail market growth are the easy returns policy, discounts and bundling offers available im e-retail. Several organizations are benefitting from advancements of augmented reality which is also the reason for the growth of E-retail sales globally. It also gives new brands quick access to the market, which is a key reason enabling growth in the market..
Top Players List:
- Yaskawa Electric Corporation
- FANUC America Corporation
- KUKA Robotics
- Kawasaki Robotics
- Panasonic USA
- Nachi Robotic Systems, Inc.
- Yamaha Robotics Partner UK
- Epson Latinoamérica
- Adept Technologies Inc.
- Artech Automation AS
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Key Market Driver –
- Increase in smartphone adoption globally with growing internet penetration.
- Implementation of augmented reality techniques including virtual fitting rooms, voice-driven searches etc.
Key Market Restraint –
- Inconsistency in delivery of goods and insufficient banking infrastructure resulting in failure of payments.
1. By Type
- Third party e-retailers
- Own website
2. By Products Category
- Clothing and Footwear
- Home Appliances
- Food and Personal Care
- Furniture and Home Décor
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Walmart Acquires India’s Biggest E-Commerce Platform Flipkart, Venturing Into E-Retail Market – An Acquisition Forecast to Give Impetus to the Market
Walmart’s investment is predicted to be of extreme importance for India and is likely to boost the e-retail market. This will also strengthen the connection between buyers and seller thus driving the global e-retail market. The outcome of the deal resulted in the largest exit for private equity and venture capital investors in India. The E- retail market is directly influencing the micro, small & medium enterprises (MSME) in India. The provisional means of financing, technology and training has a tumbling effect on other industries too. The Indian E-retail market has been on a rising development and is likely exceed and become the second biggest e-commerce market in the world in the coming years.
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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