The ecommerce market includes sales carried out over the internet and payment for which is made online and not in-store later. Such transactions are popular in segments such as Clothing and Footwear, Electricals, Food and Grocery, Health and Beauty, Home, and Other (Books, News and Stationery, Jewelry and Watches, etc.). Ecommerce businesses are registering growth because of an increase in digital buyers. Recent advancements in global ecommerce shifted the focus of the market to the mobile channel. Consequently, many ecommerce firms and online retailers now sell their products through mobile shopping applications in addition to online platforms on desktop and mobile devices. Amazon and JD.com are among the largest ecommerce companies and leaders in the online retail market. These companies are expanding their operations globally as the number of digital buyers increases.
Ecommerce spending per capita is a metric that defines average spending on ecommerce platforms by each person in the region. The global per capita ecommerce spending stood at $68,058.18 in 2020. The global ecommerce market recorded a historical growth (CAGR) of 10% during 2017–20 and grew 12% in 2021, reaching $76,293.14. GlobalData projects the ecommerce market to grow at a CAGR of 12% during 2021–25.
An ecommerce platform serves various market segments such as B2B (business-to-Business), B2C (Business-to-Consumer), and C2C (Consumer-to-Consumer). Similar to the B2C segment, the C2C ecommerce attained popularity in recent years, due to prominent names such as eBay and Taobao, the Alibaba Group's C2C platform. Ecommerce businesses recorded an increase in the number of digital buyers due to restrictions during the COVID-19 pandemic and greater adoption of technology.
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