Impact of COVID-19 on Worldwide e-Commerce Markets

The global e-commerce market is expected to grow from $1,808.5 billion in 2019 to about $2,405.3 billion in 2020.

Due to COVID-19, a significant growth is seen in the demand for essential supplies such as food, medicine, hand sanitizers, tissue, and disinfectants.

With people avoiding visiting market places and preferring to stay indoors, the online or e-commerce market is seeing a significant growth.

The market is expected to stabilize and reach $3,056.3 billion at a CAGR of 14% through 2023. Asia-Pacific was the largest region in the e-commerce market in 2019.

Rising internet penetration and the growing use of smartphones are predicted to contribute to the growth of the e-commerce market.

Increasing government and companies’ initiatives to promote e-commerce sales is a leading trend in the e-commerce market.

Stringent regulations and vertical restraints imposed on the e-commerce sector is expected to limit the growth of the e-commerce industry in the near future.

In December 2019, Safilo Group S.p.A., Italian company engaging in designing, producing, and distribution of frames, sports eyewear, sunglasses, ski goggles and helmets, and related products, announced the acquisition of 70% stake in Blenders Eyewear LLC, a digitally native retailer for an undisclosed amount.

This acquisition is aimed towards accelerating e-commerce and omnichannel strategy and expand the global presence of Safilo Group S.p.A. Blenders Eyewear LLC is a California based company engaged in providing a high-quality lifestyle and active eyewear through e-commerce platforms at affordable prices with engaging brand content.

Major players in the e-commerce market are Inc., Inc., Suning Commerce Group Co. Ltd., Apple Inc., Walmart Inc., Dell Technologies Inc., Vipshop Holdings Ltd., Gome Electrical Appliances Holding Ltd., Macy’s Inc., and Otto Group.

Report Scope

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.

It traces the market’s historic and forecast market growth by geography.

It places the market within the context of the wider e-commerce market, and compares it with other markets.

  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The e-commerce market section of the report gives context. It compares the e-commerce market with other segments of the e-commerce market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, e-commerce market indicators comparison.

Companies Mentioned

  • Alibaba Group
  • Inc.
  • Apple
  • Apple Inc.
  • Dell Technologies Inc.
  • eBay
  • Flipkart
  • Gome Electrical Appliances Holding Ltd.
  • Google
  • Inc.
  • Lenskart
  • Macy’s Inc.
  • Myntra
  • Otto Group
  • PayPal
  • Snapdeal
  • Suning Commerce Group Co. Ltd.
  • Vipshop Holdings Ltd.
  • Walmart Inc.

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