Dec 05, 2019 (Market Insight Reports via COMTEX) -- "MarketInsightsReports" has added latest research report on " E-Retail ", this report helps to analyze top Key Players, regions, revenue, price, and also covers Industry sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
The E-Retail market is highly competitive and consists of a number of major players: Amazon, E-Bay, Alibaba Group Holdings Ltd, Jingdong (JD.com Inc.), Flipkart, Zalando and others
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Scope of the Report
An in-depth analysis of the e-retail market, along with an overview of the parent market, regional markets, emerging trends, and market dynamics.
Key Market Trends
Asia-Pacific is Home to Digital Powerhouses
– E-commerce is expected to become the largest retail channel in the world, accounting for 14% of the total retail sales by 2021, outpacing sales through retail outlets, like supermarkets, independent grocers, and apparel and footwear retailers, among others.
– However, its future adoption is not likely to be evenly distributed across the world. E-commerce is already leading the way in Asia-Pacific, with 13% penetration rate, and it is expected to reach the top spot in Western Europe within the next five years. Retailers may need to tailor their digital strategies appropriately by region, country, and category.
– In 2017, e-commerce became the leading retail channel in Asia-Pacific, driven by growth in two countries, namely, South Korea and China.
– South Korea became the first country in the region where e-commerce became the number 1 channel, in 2013, with 11% penetration rate of the total retail sales. The best digital infrastructure in the world, combined with a high propensity to embrace the latest technology, led the digital revolution.
– Though e-commerce rose to the top in South Korea three years earlier than China, China has now become the digital powerhouse in Asia-Pacific and the world.
– Chinas leading retailers, Alibaba and JD.com, have built retail ecosystems with the best selection and range of prices, while solving the challenges around logistics and payments. Both continue to improve upon the digital experience, speeding up delivery and expanding product categories.
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More Consumers are Buying Fashion Online
– Fashion is the second-largest retail category after grocery. The shift toward e-commerce is a significant, palpable movement in most economies. A quarter of spending on clothing, accessories, and footwear (fashion) already occurs online and, is still rapidly growing.
– The penetration rate of buying fashion online is roughly twice that of the overall retail sales. Global forecast shows that e-commerce accounted for nearly 25% of the total fashion sales, compared to 13% of the total retail sales in 2018. Of the 58% of global online consumers who made purchases online in 2018, about half were shoppers of clothing, accessories, or footwear.
– Online marketplaces, like Amazon, are key purchase influencers in a fashion shoppers purchase journey. Shoppers are spending more time on marketplace sites to discover and research products, which is providing retailers insights into buyers purchase decisions.
– Artificial intelligence and machine-learning tools allow retailers to leverage this wealth of consumer data toward responsive design and better product recommendations. This enables marketplaces to launch private-label fashion brands for entry-level customers (for example, Moda Rapido, and Here and Now by the Indian online fashion retailer Myntra) and provide a superior customer experience.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.