Retail E-Commerce Market Size
Market Outlook:
Retail E-Commerce Market crossed USD 5.9 Trillion in 2023 and is likely to reach USD 15.3 Trillion by end of the year 2032, witnessing more than 11.4% CAGR between 2024 and 2032.
Base Year Value (2023)
USD 5.9 Trillion
CAGR (2024-2032)
11.4%
Forecast Year Value (2032)
USD 15.3 Trillion
Historical Data Period
2019-2023
Largest Region
North America
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:
The Retail E-Commerce Market is being primarily driven by the increasing smartphone penetration and internet access, which is enabling more consumers to shop online. Furthermore, the convenience of shopping from the comfort of one's home and the availability of a wide range of products are also contributing to the growth of the market. Additionally, the shift towards digital payments and the growing acceptance of online shopping among consumers are further fueling the expansion of the e-commerce industry.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Application |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Albertsons Companies, Alibaba Group Holding, Amazon.com, Coupang Corp., Ebates dba Rakuten, eBay, Inter IKEA Systems B.V., Otto, Taobao, The Kroger Co., Walmart |
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Despite the rapid growth of the Retail E-Commerce Market, there are also significant restraints that are hindering its further expansion. One major restraint is the intense competition among e-commerce players, leading to price wars and thin profit margins. Another major restraint is the increasing concerns about cybersecurity and data privacy, which are deterring some consumers from making online purchases. These restraints pose challenges for the e-commerce industry as it strives to sustain its growth momentum.
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