Digitisation has offered companies, big and small, the opportunity to overcome barriers. With today’s advanced world, e-commerce has opened up possibilities for businesses to expand abroad without having to physically settle in any particular marketplace.

Currently, due to the impact of Covid-19, E-commerce sales volumes are high and growth is set to be huge.

E-commerce accounted for $3.46 trillion in 2019, up from $2.93 trillion in 2018, Still, however, we continue to rely more on purchases made in traditional stores, for now. According to various studies, in 2019 electronic commerce accounted for 13.7% of total sales worldwide. By 2021 the predictions point to the figure of 17.5%. Source: https://www.statista.com

E-commerce Market Share:

On many occasions, we think of the United States as the king in the e-commerce market. But the truth is that there is another giant:

 

China:

Annual sales = $ 672 billion

Retail Sales Share = 15.9%

 

United States:

Annual sales = $ 340 billion

Retail Sales Share = 7.5%

 

United Kingdom:

Annual sales = $ 99 billion

Retail Sales Share = 14.5%

 

Japan:

Annual sales = $ 79 billion

Retail Sales Share = 5.4

 

China, Germany and Indonesia are the countries with the highest percentage of using the internet to buy or sell. The most popular products are fashion and beauty items, followed by electronic devices.

In Europe, companies have started to use e-commerce to distribute their products and services, without being limited to their country of origin. 23% of electronic commerce in Europe already crosses borders.

SMEs that lack financial capabilities or the acumen to become truly international and unable to identify clients and partners in global markets now see e-commerce as an opportunity to mobilise and overcome these barriers.

Top 10 global e-commerce leaders

1 Amazon.com Inc. 20.0% United States Web Only Mass Merchant
2 JD.com Inc. 29.8% China Web Only Mass Merchant
3 Suning Commerce Group Co. Ltd. 32.3% China Retail Chain Mass Merchant
4 Apple Inc. 20.0% United States Consumer Brand Manufacturer Consumer Electronics
5 Walmart Inc. 38.8% United States Retail Chain Mass Merchant
6 Dell Technologies Inc. 4.0% United States Consumer Brand Manufacturer Consumer Electronics
7 Vipshop Holdings Ltd. 14.5% China Web Only Mass Merchant
8 Gome Electrical Appliances Holding Ltd. 14.9% China Retail Chain Mass Merchant
9 Macy’s Inc. 14.3% United States Retail Chain Apparel/Accessories
10 Otto Group -0.6% Germany Retail Chain Mass Merchant

Ranked by 2018 web sales, in $billions

Source: Internet Retailer, company reports; November 2019

A good online store with the help of a credible e-commerce business consultancy or e-commerce agency can help reap rewards by streamlining online marketplaces services. There have been great successes in the e-commerce arena that demonstrate the effectiveness in substantially improving the profits and growth of all types of companies. One such example is the campaign of the supermarket Tesco, and its virtual windows with QR codes, which represented a 76% increase in online sales.

Multiple software developers have created effective and easy to handle to incorporate your strategist: Magento, Shopify, Volusion, A shop … All of them are great solutions to develop a solid e-commerce system for your company.

Now is the best time to incorporate tools of this type so as not to be left behind. If you’re looking for managed services for online marketplaces or truly effective e-commerce consulting, get in touch with eVolve-commerce. https://evolve-commerce.co.uk/

 

 

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