The
global market for online retail, in terms of revenue, was valued at
US$ 982.86 Bn in 2013 and is forecast to grow at a CAGR of 23.7%
during the period 2014 to 2020. The increasing internet penetration,
improved quality of logistical infrastructure and increasing
popularity of mobile-commerce within the retail digital
transformation market places are some key factors driving the growth
of global retail digital transformation market. In addition,
increasing internet subscribers and rise in the number of online
stores are further expected to drive the growth of this market over
the forecast period.
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Retail
digital transformation market is segmented by mode of access into
mobile apps and websites. Mobile apps segment held a share of around
19% in terms of revenue in 2013 and is expected to grow at a CAGR of
30.9% during the period from 2014 to 2020. Although the access
through mobile apps is growing rapidly, access through websites is
still dominant. Retail digital transformation market by access
through mobile apps is expected to grow at a significant rate during
the period 2014 to 2020. Factors such as increasing penetration of
mobile devices for online retailing and increase in number of mobile
applications for shopping are expected to drive the growth of access
through mobile. Improved logistical infrastructure and increased
number of providers working towards enhancement of broadband services
for internet have all contributed to the growth of access through
websites for online retailing.
By
product, consumer electronics and appliances held the largest share
of nearly 37% of the overall retail digital transformation market in
terms of revenue in 2013. With the increasing number of merchants
selling consumer electronics and appliances online, and standardized
nature of these products this market segment is expected to hold
major market share during the forecast period 2014 - 2020. Moreover,
availability of these products, competitive prices and discounts as
compared to the traditional brick-and-mortar stores have all
contributed to their increasing popularity within retail digital
transformation market. Moreover, food, grocery and beverages market
segment is expected to be the fastest growing pertaining to
increasing number of merchants wanting to sell these products online
and shoppers choosing to purchase grocery online. Apparel, footwear
and media, flowers and other products of this nature continue to be
the popularly purchased online products due to the wide variety and
increase in number of quality brands offering these products online.
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Developed
markets such as North America led the global retail digital
transformation market in 2013. North America held the largest share
of about 29% in 2013 of the overall retail digital transformation
market due to increased internet penetration and efficient online
payment options. With the increasing adoption of online retail in
various market places and rise in number of online stores, the market
in Latin America is expected to be the fastest growing during the
forecast period. On account of new entrants, increasing number of
online subscribers and increasing mobile penetration in countries
such as China, India and South Korea, the Asia Pacific retail digital
transformation market is expected to grow at a CAGR of 30.2% during
the forecast period 2014 to 2020.
With
the increasing demand for better modes of delivery and payment and
demand for specific product, key players are offering a wide range of
online retail products to fit specific customer requirements. The key
players in the retail digital transformation market include
Amazon.com, Inc, eBay, Inc., Wal-Mart Stores, Inc., Alibaba Group
Holding Limited, Rakuten, Inc., Flipkart Internet Private Limited,
Tesco PLC, Snapdeal.com (Jasper Infotech Pvt. Ltd.), Otto Group, and
MercadoLibre, Inc.
The
global retail digital transformation market is categorized into the
following segments:
Retail
Digital Transformation Market, by Mode of Access
- Mobile Apps
- Websites
Retail
Digital Transformation Market, by Product
- Consumer Electronics and Appliances
- Apparel and Footwear
- Media, Toys and Games;
- Food, Grocery and Beverages
- Furniture and Home Improvement
- Beauty and Personal Care
- Others
Retail
Digital Transformation Market, by Geography
- North America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Latin America
- Middle East and Africa
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