Global and Regional Online Retailing to 2023 – Market Size, Forecast,, Trends, and Competitive Landscape
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Global online sales are projected to register a CAGR of 13.9% over the forecast period (2019-2023) to reach US$2,741 billion, up from US$1,631 billion in 2019, increasing its penetration in overall retail sales from 8.9% to 12.2% in 2023.
One of the biggest questions facing retailers is the cost benefit of automation. Major companies in both non-food (Amazon) and food (Ocado) have poured investment into automating the supply process, aiming to achieve greater insight into inventory control, ensuring availability, reducing long-term labor costs, and higher consistency. Furthermore, automation allows for superior data collection, which can be passed onto other parts of the business (such as buying teams), and can help retailers avoid unnecessary instances of stock shortages. However, automation carries its own conundrums. While it is a sensible step for larger retailers potentially processing millions of orders per week, it is too expensive an option for smaller retailers and/or those with more bespoke product offers. Even for larger retailers, automation is less flexible than human labor, which can be scaled up or down appropriately during periods of peak trading, such as Christmas or Singles Day.
This report summarizes the common issues facing retailers globally as they face a retail landscape that is changing constantly, and rapidly, and becoming completely unrecognizable from the traditional model that evolved over centuries.
Scope
– Online channel continues to steer overall retail growth globally
– APAC set to overtake the Americas as the largest online market in 2020
– Government and retailer initiatives to aid Chinese online retail growth
– Food & grocery is the fastest-growing sector for online sales, although it remains at a nascent stage
– Amazon dominates the global online market but faces intensifying competition
Reasons to Buy
– This report summarizes the common issues facing retailers globally as they face a retail landscape that is changing constantly, and rapidly, and becoming completely unrecognizable from the traditional model that evolved over centuries.
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