Analysts estimate that today nearly 20%-30% of the traffic to US e-commerce sites comes from international IP addresses. The growing importance of international consumers is forcing US-based companies to expand their e-commerce options to global locations. Companies are exploring options of international shipping along with the ability to transact in multiple currencies. Recently-listed Borderfree is helping retailers with these decisions.
An eMarketer report released earlier this year estimates US retail sales to have recorded a 4% growth this year to $4.53 trillion. The researcher revealed that brick and mortar sales still amount to a major proportion of the retail sales in the country and contributed $4.23 trillion of total sales. E-commerce transactions grew 17% in 2013 to bring in $304 billion and are projected to grow to $491.5 billion by the year 2018 to command 9% of total retail sales in the country.
Many analysts believe that flash sales sites are a passing fad. But, if one looks at players like Zulily and Gilt Groupe, that may not be true. By identifying a niche market space, addressing the target demographic and carefully selecting products to put on sale, both Zulily and Gilt Groupe have become the poster children for flash sales sites. >>>
An eMarketer report released earlier this year estimates the business-to-consumer e-commerce sales in Latin America to grow 20% this year from $48.14 billion to $57.69 billion. The market is expected to grow to $74.5 billion by the year 2017, translating to a 12% annual growth over the period 2013 through 2017.
An IBISWorld research report published earlier this year pegs the US home goods market which includes furnishings, furniture, and décor products to be worth $30 billion this year. The industry is estimated to have grown 2% annually over the period 2009 through 2014. While the industry is dominated by the traditional brick and mortar stores, the online sector is gradually establishing its presence. Analysts estimate that a mere 6% of the market is currently catered to by e-commerce.
Nomura’s India Internet Research Report released last month projects the Indian e-commerce market to grow from $10 billion to $43 billion in the next five years. Other researchers estimate the Indian e-commerce market to grow to $76 billion by the year 2020. Within the market, Accel Partners estimates that revenues from marketplace revenues or product sales will grow from $2 billion in 2013 to $8.5 billion in 2016. The rapidly growing market is attracting a lot of interest with multi-billion dollar investments being made in the country. Recently, India’s e-tail giant, Flipkart received funding of $1 billion and Amazon also announced plans to invest $2 billion to capture a bigger share in the Indian market.
The online marketplace is not only an easy place to find run of the mill stuff, but with vendors like Etsy around, buyers can also scout for one-of-a-kind products with ease. Founded in 2005, DUMBO, Brooklyn-based Etsy, is a leading e-tailer in handmade and vintage products. Here is a quick view into their rapid growth.
According to a Forrester release, US e-commerce sales are projected to grow from $294 billion in 2014 to $414 billion by the year 2018 at a compound annual growth rate of 9.5% between 2013 and 2018. However, that market still has a long way to grow considering that the total retail market in the country is $3 trillion.