Global ecommerce statistics and trends |
Posted: July 9, 2019 |
E-commerce is a developing sphere in marketing, which becomes more and more popular every year. It allows making more profit from websites and traffic in the case of the creation of a good and well-thought strategy. Today ecommerce marketing platforms are not just one of the business models. In the modern world, it becomes a necessity, as more and more people start using the Internet to solve their problems and make purchases.
Global e-commerce market analysisThe sphere of e-commerce provokes plenty of questions. People are usually interested in the following issues in order to successfully start their e-commerce business:
As a result, everyone, who starts such a business, faces lots of challenges. Sometimes people even get lost and leave the idea. To deal with such a problem, it is required to understand the essence of e-commerce as well as global trends. E-commerce is defined as a method of selling products/services across geographic and political borders. The goods are usually sold to a non-native market with the help of online marketing and sales. According to the recent data, there is a 276% global increase in e-commerce sales. Thus, we can observe a kind of historical rise in the sphere. If we look at the cumulative figures, we can say that the growth started in 2014 with $1.3T. In the following years, it reached higher indexes:
In accordance with the forecasts, the figures will reach $4.1T and $4.9T in 2020 and 2021 correspondingly. As we’ve mentioned, the goods are sold to the non-local markets. It might seem that e-commerce requires international presence (which demands huge investments). However, it is advisable to make research. International purchases are mostly made on the North American continent. Besides, there is no necessity to open a store in every location. All you need is to work with international networks and platforms. Among them, we can first mention:
The enumerated platforms also have geographic targeting (along with the other targeting options). Thus, you can easily promote your product globally with minimal investments. Some of the brands even create a separate account for each location, which allows significantly increase their presence worldwide. It is also a nice way to check the viability of your business. Consider the e-commerce figures in different parts of the world to select the best ones for you:
It is also recommended to observe the countries with the biggest e-commerce market:
As the experts claim, by 2023, definite changes are most likely to take place. Thus, Canada, France, and Australia are predicted to take higher positions than Germany, Japan, South Korea, and the UK. The forecasts also assure that by 2023, the region of Asian Pacific will become the center of e-commerce sales. The specialists say that the number of sales will be bigger than in the rest of the globe. Such a tendency is connected with the following factors:
At the same time, before you finally select target regions, it is important to check the product-market fit. To do it, it is required:
Besides, you can always use the Global Connected Commerce report prepared by Nielsen. Here you will find the information on the most lucrative online spheres sorted by region. Other essential issues concern currency & language. Many global sites failed because of Google Translation application. Thus, localization is always a priority. Besides, keep in mind that every region has its own preferable payment options.
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