Latest News- E-Commerce Retail Market: Apparel and accessories is expected to lead the Product segment during 2025-2029

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 12% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4833.5 billion. The global e-commerce retail sector is undergoing a profound transformation through the integration of artificial intelligence (AI). This technological innovation is revolutionizing consumer-platform interactions, providing personalized and efficient services. A notable development in this area is the deployment of AI assistants, such as Amazon's Rufus, designed exclusively for e-commerce. Launched in August 2024, Rufus caters to Amazon's Indian customer base, offering personalized product recommendations, shopping list suggestions, and product comparisons. Furthermore, it grants access to customer feedback, enabling informed purchasing decisions based on the experiences of others. This AI assistant is a game-changer in the e-commerce landscape, enhancing the shopping experience and streamlining transactions. 

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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)
• Device
  • Mobile
  • Desktop
• 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 dynamic e-commerce retail market, advanced retail technology plays a pivotal role. This includes e-commerce software for seamless payment processing, delivery networks for efficient shipping, and marketing automation for targeted advertising. Customer segmentation and sales forecasting help tailor offerings, while product reviews and shopping carts simplify the buying process. Order tracking, customer support chatbots, and personalized recommendations enhance the customer experience. Dynamic pricing, search functionality, and product discovery facilitate sales. Mobile optimization, website accessibility, and security protocols ensure a user-friendly platform. Sustainability initiatives like sustainable packaging, green logistics, and the circular economy address environmental concerns. Legal compliance, return policies, warranty claims, loyalty programs, customer feedback, social proof, email automation, SMS marketing, and live chat support further strengthen the retailer-customer relationship. Fraud detection and data encryption safeguard transactions.

Market Research Overview

The global broadline retail market encompasses the income generated by entities offering retail services, encompassing discount merchandise sellers, department stores, and online retailers and marketplaces dealing in consumer discretionary merchandise. According to Technavio's assessment, the market size is determined by the earnings of Internet retailing service providers, third-party online retail platform providers, door-to-door retailing services, department stores, and other general merchandise enterprises, including those facilitating online marketplaces for consumer goods and services. The expansion of the global broadline retail market will be fueled by several factors, including the rising adoption of advanced mobile devices and substantial Internet penetration. These trends enable consumers to access on-demand products and services online, thereby driving growth in the sector.. 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/