How Big is the Ecommerce Market?
If you’re starting a business or already have an online store, you may be wondering: how big is the ecommerce market? The US retail market was $394 billion in 2016 and that’s up from $342 billion in 2015. This means that the ecommerce market will increase $50B in one year, which is a huge number! The question is: how big is the market and how can I compete with such a massive market?
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Amazon
There’s no denying that Amazon is a massive player in the ecommerce market. The company first launched back in 1994 and specialized in selling books online. Today, Amazon sells practically everything. That being said, there are still some niche customers who prefer to purchase products from more specialty retailers. Whether it’s beard oil, CBD for pets, or vegan cosmetics, there’s an ecommerce market for them out there.
WooCommerce Checkout
The WooCommerce Checkout and Shopify platforms are leading the eCommerce market share in the USA. Together, they account for 52% of the market share. After these two platforms, Wix Stores, Squarespace Add-to-Cart and Ecwid are close behind. Here are some numbers you may find interesting. You can also download the statistics as a free PDF or hi-res version.
Shopify
The Shopify platform makes ecommerce easy and fun. With built-in marketing and innovative native tools, Shopify ecommerce businesses have higher sales and conversion rates than those of competitors. In addition, more than half of Shopify shoppers make another purchase. They buy 3.8 times more from the same store! These figures prove that the companies that are partnering with Shopify are delivering a rock-solid customer experience.
Alibaba
In 2013, Alibaba outsold both eBay and Amazon combined in sales. The company is considered one of the fastest growing technology companies and Yahoo Inc. has made a major investment in the company. Alibaba reported $3.06 billion in revenue during its fourth quarter of 2013, up 66 percent from the year prior. The company earned $1.36 billion in net profits in the same period. What are Alibaba’s future growth prospects?
China
GlobalData’s E-Commerce Analytics report projects China’s e-commerce market will reach $3.3 trillion by 2025, with a compound annual growth rate of 11.6 percent. While the COVID-19 pandemic has slowed overall consumer spending in China, consumers are increasingly opting for online channels to fulfill their purchases. And with a sluggish domestic economy, the COVID epidemic has also helped drive the market, causing a spike in online purchases.
France
With 87% of its population connected to the internet, the French ecommerce market is the fifth largest in the world. Sixty-seven percent of the French population considers themselves “active online shoppers” and a growing number of French retailers and e-commerce sites are opening up in France. According to the most recent statistics, PS63 billion was spent in France in 2016 on ecommerce. By 2025, this figure is expected to reach $203.5 billion.
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