In order to give you insights on what market expansion opportunities are waiting for you in the borderless eCommerce business to claim, we have evaluated the most recent data for shopping categories. With the U.S., Europe, Australia, India, and Latin America, we have made a broad start. In the future, we’ll have access to eCommerce markets that are more niche and comparable to the nation.
U.S. eCommerce market overview
Retail eCommerce sales in the United States are anticipated to increase quickly over the next several years, from 505 billion in 2018 to over 735 billion in 2023. The most well-known online retailer in the US is without a doubt Amazon. eBay, Walmart, Apple Sites, and Target are among more popular online merchants.
In 2017, 78 percent of Americans who use the internet made an online purchase. At this time, 32% of internet users made a single monthly purchase. 29 percent made one or two weekly internet purchases.
Europe eCommerce market overview
In Europe, the overall eCommerce turnover climbed by 11%. It was 534 billion euros in 2019. In Europe, Amazon and eBay are widely used. The Alibaba Group is gradually encroaching from the East. France, Spain, and Italy all exhibit encouraging trends. Germany appears to keep up with the United Kingdom’s rapid economic expansion.
Like Home Electronics and Books, clothing and footwear are among the most popular product categories. In 2017, 38% of European online buyers made international purchases, with 50% of those purchases coming from online vendors in other EU nations.
Australia eCommerce market overview
In 2019, Australia’s eCommerce market generated 21 billion dollars in revenue. In 2023, this amount is projected to increase to 27 billion dollars.
The title of most popular online retailer in Australia is firmly held by eBay. Over a four-week period, the business gained 3.78 million extra customers. eBay owns more of it than just Gumtree.
Fashion is the market’s largest section, with a market size of $7.6 billion in 2019. Electronics and media is the following topic. Those substantial niches continue to expand. Food and personal care is a different area that is expanding more rapidly. By 2023, it is anticipated to even accelerate.
India eCommerce market overview
In July 2018, India had 475 million internet users. 40% of the population, roughly. This market holds great promise for eCommerce. There is a rapid expansion of online retail, with more than 6 million new customers joining the eCommerce sector each month. The leading online retailers in 2017 were Flipkart, Amazon, Myntra, Paytm, and Snapdeal.
India’s online marketplace appears to be specialised. According to statistics for the top-selling items online, the Mobile & Accessories category ranked first in 2018. Market share for this category was 64 percent. Men’s Fashion, Electronics & Appliances, and FMCG (Fast-Moving Consumer Goods) including packaged meals, beverages, toiletries, or over-the-counter medicines were among the other well-liked shopping categories in India.