The global online market is expected to see a like-for-like growth rate over the next five years compared to 2010-2015. The growth is primarily driven by the rise in internet and smartphone penetration, unending innovations in payment systems, and the consistent streamlining of logistic services, along with exclusive deals and discounts being offered by e-retailers.
Online sales to grow over the next five years
Global Online retail sales 2010, 2015, and 2020 in US$ bn
- Online retail sales in India are forecast to grow at a CAGR of 48.2% in 2015-2020. Indonesia is the second fastest-growing online retail market, at a CAGR of 33.6%, followed by Mexico and China with 27.4% and 24.8% respectively.
- Additionally, the MEA region is also seeing impressive growth in online retail sales. Saudi Arabia and South Africa are expected to grow at a CAGR of 24.7% and 22.3% respectively.
- In Europe, the UK is the most developed and mature online retail market. A robust internet infrastructure, high internet penetration, increasing broadband speeds, and better support infrastructure such as Collect+ and Doddle services, have been driving the UK online retail market. Although other countries are catching up fast, the UK online retail market.
What does it mean?
The increasing penetration of smartphones and high speed internet are the prime driving factors for online retail penetration, while offers and discounts are the fundamental driving factors in developing countries such as India, Indonesia, and Mexico.
The “Global Online Retailing, 2015-2020; Market Dynamics, Online Trends and Competitive Landscape” report, published by Verdict Retail, provides analysis of the current and forecast market data of retail sales in different category groups in the online retail channel across the globe. In addition, it covers information on key technology trends, online trends in major countries, and the payment preferences of consumers. This report also focuses on major retailers across the regions, with an emphasis on innovative retailers in the online retail space.
Price: $7,995 (Single User License)
Published: Aug – 2016
Publisher: Verdict Retail
Report Format: electronic pdf