E-Commerce Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Beauty & Fashion Products, Electronic Products, Household Products, Pharmaceutical Products, Food & Beverages, Others), By Sales Channel (B2B, B2C), and Region  

E-commerce market size was valued at US$ 11.73 trillion in 2022 and is expected to reach US$ 21.27 trillion by 2029, at a significant CAGR of 14.5% from 2023-2029. The action of purchasing and selling things over the Internet or through online services is known as electronic commerce (e-commerce). The act of selling items and services directly to customers is known as retailing. To make a profit, it is done through a number of sales methods. Retail E-Commerce, on the other hand, refers to the online sale of goods and services. B2B (business-to-business) and B2C (business-to-consumer) sales of goods and services may be included. To capture Internet sales, companies must change their business strategies, which may entail the construction of distribution channels such as warehouses, websites, and product delivery centers. Effective distribution channels are crucial in retail e-commerce when they are the means via which the product is delivered to the customer. It comprises employing websites, applications, portals, and other platforms to digitise the entire shopping experience, including product browsing, comparison, selection, payment, and order placement.

Food, footwear, clothing, personal care, and beauty items are among the commodities that are being purchased online rather than in brick-and-mortar stores because of the advantages of e-commerce. As individuals become more digitally adept and use the internet, convenience shopping is getting increasingly popular. With increased internet penetration in developing countries, the number of individuals using the internet to buy goods and services through E-commerce is on the rise. Customers can shop online from the convenience of their own homes using any device, such as a PC, tablet, or smartphone, to select, compare, buy, and have things and services delivered to any location they desire. The distance between the experience of buying in brick-and-mortar stores and purchasing on Ecommerce has narrowed thanks to the introduction of user-friendly applications and user interfaces.  

Key Developments

• In May 2018, Walmart entered inked an agreement to acquire 77% stake of Flipkart for $16 billion to expand its services in India