Understanding the Latest E-commerce Market Share Trends and Statistics
For the past decade, E-commerce has undergone tremendous growth, prompting the retail industry to shift its focus to the digital space. In recent years, the Covid-19 pandemic has further accelerated this trend, with many people turning to online shopping to avoid physical contact. Here, we will dive into the latest trends and statistics to help you stay up-to-date in the world of E-commerce.
Online Shopping Growth
According to a report by Statista, the global E-commerce market is projected to reach $4.9 trillion by 2021. The report further predicts that the Asia-Pacific region will have the largest share of the market, accounting for 44.3% of the total global E-commerce sales.
Moreover, in 2020, E-commerce sales in the United States grew by 44% YoY, bringing the total revenue from online sales to $861.12 billion. This growth is attributed to several factors, including widespread internet penetration, the rise of mobile usage, and the convenience of online shopping.
Shipping and Logistics
The growth of E-commerce has created a demand for efficient shipping and logistics systems. According to another report by Statista, the global E-commerce logistics market is expected to reach $781.86 billion by 2025, growing at a CAGR of 21.2%.
Companies are investing heavily in improving their shipping and logistics infrastructure, and many have started using drones and autonomous vehicles to increase delivery speed and efficiency. The trend towards sustainable E-commerce logistics, such as using electric vehicles and renewable energy sources, is also gaining popularity.
Role of Mobile E-commerce
Mobile E-commerce is rapidly gaining traction, especially among millennials and Gen Z shoppers. According to a report by eMarketer, 72.9% of retail E-commerce sales in the United States were influenced by mobile in 2020. Additionally, mobile commerce is expected to surpass 70% of all digital commerce sales by 2023.
To cater to the growing mobile E-commerce market, companies are investing in mobile-friendly websites and apps, as well as mobile payment systems like Apple Pay and Google Wallet. The use of mobile augmented reality, virtual reality, and artificial intelligence is also set to enhance the mobile shopping experience.
Conclusion
As E-commerce continues to grow, it is essential for businesses to stay on top of the latest trends and statistics to remain competitive. The increasing popularity of online shopping, the importance of efficient shipping and logistics, and the growing role of mobile E-commerce are some of the key areas to watch.
To succeed in E-commerce, companies must prioritize user experience, invest in new technologies, and maintain a strong online presence. By keeping up with the latest trends and statistics in E-commerce, businesses can position themselves for growth and success in the digital marketplace.
