Latest News- E-Commerce Retail Market: Apparel and accessories is expected to lead the Product segment during 2024-2028

The E-Commerce Retail Market is being driven by Advent of personalized shopping

The E-Commerce Retail Market is expected to grow at a CAGR of 11.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4061.3 billion. The global e-commerce retail sector is undergoing a substantial transformation through the integration of artificial intelligence (AI). This trend is revolutionizing consumer-platform interactions, providing personalized and efficient services. A significant development in this area is the implementation of AI assistants, such as Amazon's Rufus, designed exclusively for e-commerce. Launched in August 2024 for Amazon's Indian customers, Rufus offers personalized product recommendations, shopping list suggestions, and product category comparisons. Furthermore, it grants access to customer feedback, empowering consumers to make informed purchasing decisions based on the experiences of others. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Apparel and accessories
  • Groceries
  • Footwear
  • Personal and beauty care
  • Others
• Modality
  • Business to business (B2B)
  • Business to consumer (B2C)
  • Consumer to consumer (C2C)
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advent of personalized shopping
• Increased internet penetration
• Rising disposable income

However, the market also witnesses some limitations, which are as follows:

• Strict regulatory policies related to compliance and customer protection
• Cybersecurity threats
• Supply chain disruptions

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Market Scope in E-Commerce Retail Market Research Report

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Research Analysis Overview

In the realm of electronic commerce (e-commerce), smartphones have revolutionized online shopping, enabling the purchase of daily essentials and luxury products through various e-commerce platforms. Cross-border trade and business-to-business (B2B) and consumer-to-consumer (C2C) transactions are thriving, prioritizing data security. Mobile technologies, including mobile applications and responsive websites, facilitate inventory management, order processing, and payment integration. Purchasing everyday basics and luxury items is now convenient with digital payment methods, voice orders, and augmented reality experiences. Computer and smartphone devices, such as tablets, are essential tools for retail e-commerce, enhancing the online shopping experience.

Market Research Overview

The global broadline retail market encompasses the earnings of enterprises offering retail services, encompassing discount merchandise sellers, department stores, and online retailers and marketplaces dealing in consumer discretionary merchandise. According to Technavio, the market size is determined by the income generated by Internet retailing service providers, third-party online retail platform providers, door-to-door retailing services, department stores, and other general merchandise firms, including those facilitating online consumer product and service marketplaces. Market expansion will be fueled by the rising adoption of sophisticated mobile devices and extensive Internet penetration, empowering consumers to access on-demand online goods and services. Key drivers include the proliferation of smartphones and widespread Internet connectivity, enabling consumers to conveniently shop for a wide range of products and services online.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/