The process of buying and selling tangible products through the internet is referred to as ecommerce. Ecommerce groups are registering growth due to the increase in the number of virtual consumers. Recent improvements in international e-trade shifted the focus of the market to the mobile channel. Many ecommerce companies and online stores are promoting their merchandise via online platforms accessible through mobile devices. Amazon and Walmart are considered the largest e-trade businesses and leaders in the online retail market. These companies are expanding their operations globally as the ecommerce market continues to expand.
Ecommerce spending per capita is a metric that shows the average amount spent on ecommerce platforms by each person in the region. Ecommerce spending per capita in the United States stood at $3,873.41 in 2020. The ecommerce market in the United States recorded a historical growth (CAGR) of 12% during 2017–20 and grew 9.30% in 2021, reaching $4,233.47 per capita. GlobalData projects the ecommerce market to grow at a CAGR of 9.84% during 2021–25.
An ecommerce platform serves various market segments, including B2B (Business-to-Business), B2C (Business-to-Consumer), and C2C (Consumer-to-Consumer). Owing to well-known names such as eBay and Taobao, the Alibaba Group's C2C platform, the popularity of C2C ecommerce increased in recent years, akin to that of the B2C industry. Restrictions due to the COVID-19 pandemic, and an increase in the adoption of technology led to a surge in the number of digital buyers, aiding the e-commerce businesses and propelling the growth of ecommerce.
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