Trends and Analysis of E-Commerce Market: A Global Perspective

Abstract

Surge of digitisation has significantly propelled the e-commerce market over the past years, with substantial growth expected across over the forecast period. Advent of technological innovativeness have led to an overall new retail experience for buyers as well as suppliers. Increasing continual user enthusiasm for online shopping with unparalleled Internet services and smartphone penetration rate have significantly boosted the overall demand. Latest trends and developments in web technologies are expected to pose opportunities for the businesses to accordingly strategise their business models, and thereby gain a competitive edge in the market. In today’s scenario, key market players are increasingly focusing on complementing their conventional mode of retailing with the upcoming and latest online commerce trends. This paper includes a market study of e-commerce across different regions in the world, based on estimating, analysing, and forecasting for the period of 2019-2025. The paper offers a descriptive study on the various market determinants which includes the market drivers, challenges, and the future aspects of e-commerce market. In addition to these, various technological developments in e-commerce market along with the impact of the ongoing COVID-19 pandemic has also been briefly described.

Keywords: E-Commerce, Online, Internet, Smartphone, COVID-19, Pandemic

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