The growth of the global online retail market is driven by factors such as easy access to internet on account of rise in the sales of smartphones, increasing use of debit cards for transactions and growing investment in logistics and warehouses. Many organizations have concentrated their focus on scaling up order fulfillment systems and proper responses provided, expansion made to cover target customers from other regions apart from domestic customers through several ways such as partnerships with any international company and many more are anticipated to boost the growth of the sales and the market. Similarly, several online marketing tools are being utilized in order to target new customers as well as existing customers. CLICK TO DOWNLOAD SAMPLE REPORT

The global online retail market is anticipated to grow at a significant CAGR over the forecast period i.e. 2020-2027. The market is segmented by product and by distribution channel.  On the basis of product, the market is segmented into apparel, furniture, fashion, electronic items and others, out of which, apparel forming part of product segment is anticipated to occupy the largest market share, on account of significant rise in sales of apparel globally. 

Growth Drivers

Increased Penetration Of Internet And The Rise In The Number Of Smartphone Users

The growth of the global online retail market is driven by various factors such as the rise in the number of internet users globally across every region and increasing penetration of internet covering almost every region across the globe. Increasing number of individuals are opting to conduct online transactions over the internet as they are feasible and can be completed quickly within minutes as compared to traditional modes of payment. The number of smartphone users have seen a significant rise over the last decade globally, owing to a general improvement in the revenues and standard of living of the population across the globe and reduction in the prices of smartphones globally. GSMA Intelligence, a trade body representing the interests of mobile network operators worldwide has estimated that the percentage of smartphone connections are anticipated to increase globally from 60% in 2018 to 79% in 2025.

Increasing Investments in E-Commerce & Shifting Trend Observed Towards Marketing & Conducting Online Sales & Purchases

The online retail market is anticipated to grow rapidly, owing to the increasing investments in E-Commerce made in the last few years. Moreover, changes observed in the consumer buying patterns and general population becoming attracted towards conducting their transactions online through the internet by use of smartphone apps from their smartphones which saves time, effort and money is driving the growth of the online retail market. During the year 2018, E-Commerce and consumer internet companies in India had received more than USD 7 billion by way of private equity and venture capital funding. All these factors are anticipated to drive the growth of the market over the forecast period.