The global online market is expected to grow by 15% annually

2022-11-21
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Author:Liu Mengyuan
Source: ennews

According to the report of OC&C Strategy Consultants, since the emergence of e-commerce in the 1990s, as Amazon, Expedia, eBay and other online markets have fundamentally changed consumer spending, the rise of online market models is maintaining its momentum.

 

The report predicts that by 2025, the expenditure through the head online e-commerce platform market will exceed the vast majority of e-commerce outlets in the established retail and tourism categories. In 2020 alone, the total expenditure of Western consumers in these categories will exceed US $1 trillion, accounting for 40% of the total online expenditure of consumers.

 

The report estimates that among all established market categories, the global online market will continue to maintain an annual growth rate of 15%, and by 2025 it will account for about 45-50% of online spending.

 

The report also shows that consumers' buying habits have undergone amazing changes. The online market is rapidly becoming the first choice of consumers and some suppliers, and these platforms have also ushered in greater development. Although the COVID-19 epidemic has accelerated the transformation to the online market, its unstoppable share growth shows no signs of slowing down.

 

In addition, the American online market dominates the European online market peers. Although many European markets such as Zalando have been successfully operated, most of the markets cannot compete with their American counterparts in terms of scale. China has three of the world's four major e-commerce markets (Taobao, Tmall and JD). It is expected that by 2030, all three will expand their influence in the western market.

 

It is understood that the online market will also expand in new vertical areas. It includes B2B products. The market is breaking the traditional wholesale sales model and developing a tool to closely adapt to the specific needs of its vertical industries.

 

At the same time, the second-hand commodity market will also flourish, and consumers will show a stronger sense of sustainability when purchasing, which in turn creates a wider range of geographically diversified buyer and seller groups. In short, although the global online market is becoming more and more competitive, its market share is also growing, especially for European and American e-commerce sellers. There is much to be done in 2022!


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