The global economy as we know it today is drastically different from how it was 20 years ago. The internet has become a powerful tool in facilitating free trade and the exchange of ideas across borders. The Online global report is a detailed analysis of online business trends, statistics, and market research data.
It is a document that outlines important factors related to the e-commerce industry. Online marketplaces are growing in popularity with consumers and sellers alike. This is good news for small businesses owners looking to expand their reach without having to invest in expensive marketing campaigns or physical stores.
Business owners can leverage third-party marketplaces as an easy way to sell goods or services directly to consumers without having to build their own e-commerce sites from scratch. This article will explore some of the most important statistics and trends related to the online global report .
E-Commerce Industry Overview
Business-to-consumer e-commerce sales are expected to grow to $4.8 trillion worldwide by 2021, up from $2.3 trillion in 2017, according to a forecast by eMarketer Retail. In 2021, 42.1% of retail sales will come from online channels, up from 35.6% in 2017.
Retail e-commerce sales are expected to grow 14.6% in 2018 compared with 2017, according to the International Council of Shopping Centers (ICSC). E-commerce sales are forecast to rise 18.8% in 2019 and 16.3% in 2021. Retail e-commerce sales are expected to grow at an average annual rate of 16.8% through 2021, faster than the 10.7% average annual growth rate for all retail sales during the same period.
eMarketer’s Global E-Commerce Forecast 2014 to 2018
eMarketer expects the number of people who shop online globally to increase 32.2% in 2018 to 3.9 billion people. This is an increase of almost 800 million people (19.4%) from the 2.1 billion people who bought goods online in 2017.
Although online sales will grow at a slower pace than in previous years, the global market is forecast to reach $4.8 trillion in 2021, up from $2.3 trillion in 2017. The Asia-Pacific region will surpass North America to become the largest e-commerce region globally in 2018, with nearly 1.5 billion people shopping online. By 2021, Asia-Pacific’s online retail sales are forecast to total $2.1 trillion, about $100 billion more than for North America.
Retail E-Commerce Sales Worldwide
Retail e-commerce sales are forecast to rise 18.8% in 2019 and 16.3% in 2021. By 2021, they will represent 42.1% of all retail sales, up from 35.6% in 2017. Retail e-commerce sales in the Asia-Pacific region will grow at an annualized rate of 19.2% through 2021, faster than the 11.9% expected growth rate for North America. In the same period, Western Europe will see an annualized growth rate of 14.9%.
Differences in Online Shopping Behaviour Between Men and Women
One of the most important statistics related to the online global report is the difference between men and women’s online shopping behaviour. eMarketer found that women are more likely than men to shop online. Globally, the number of women who shop online will rise 28.4% in 2018 to 3.4 billion people, compared with 2.6 billion men who shop online. Among online shoppers in the Asia-Pacific region, 62.4% are women and 37.6% are men. In Western Europe, the gap is narrower, with 53.1% of online shoppers being women and 46.9% being men.
Millennials are Shifting the Way We Shop Worldwide
One of the most important statistics related to the online global report is how millennials are shifting the way we shop globally. eMarketer expects the number of people worldwide between the ages of 18 and 34 who shop online to increase 34.8% in 2018 to 2.7 billion people. eMarketer forecasts that millennials will drive the increase in online shopping. The number of millennial online shoppers is forecast to reach 1.7 billion in 2018, almost double the 794 million millennials who bought goods online in 2017.
Conclusion
The global economy has become increasingly interconnected in the past few decades, particularly through the expansion of internet connectivity and commerce. The rise of e-commerce has been a significant part of this trend, as consumers have come to expect the ability to shop online for almost any product or service. The growth of e-commerce has had significant effects on both the retail landscape and how consumers shop.
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