E-tailing MarketAdoption of E-tailing by Brick and Click E-tailers Drives Market Growth.
The E-tailing Market is forecast to reach $9.09 trillion by 2026, growing at a CAGR of 15% from 2021 to 2026. Electronic retailing (E-tailing) is simply the sale of products and services through the Internet. The E-tailing Market is estimated to witness sustainable growth over the forecast period majorly because of improved online marketing strategy, distinctive offering, customer data analytics integration and vast availability of products and services available to the customers. E-tailing allows many established business and start-ups companies to sell their goods and services in the global market with ease. E-retailing provides customers with different availing offers of product and services which tends to drive its market growth globally. Offering door to door delivery of vast quantities of products and services to the customers provides virtual transparency between Customers and Retailing company. On the other hand, increasing shipping costs and long delivery time of products are major challenges for the e-tailing market. The unavailability of the physical presence of products and the increasing options for multichannel transactions such as browsing, buying, return, and post-sale services by consumers are some of the major challenges restraining the market growth.
E-Tailing Market Segment Analysis - By Type
Pure-play E-tailers have dominated the E-tailing Market as compared to the Brick and click E-tailers. The demand for Pure-play E-tailers is growing due to its narrow business model. Pure-play E-tailers are those companies that focus on only one line of business. These are different from other types as they have only one source to sell their products and services which is on the Internet by connecting to millions of customers globally through an enhanced online marketing strategy and adoption of customer data analytics. Dunkin' Brands Group and Starbucks are some of the leading Pure-pay E-tailers in global market. The major factors which restrain the adoption of Pure-play E-tailers is global connectivity of products. For an instance, it may look like an advantage, but having a bad product review may lead to huge loss too as this E-tailing company is browsed by a large scale of consumers worldwide.
E-Tailing Market Segment Analysis - By Business Model
Business to Consumer (B2C) holds the largest market in E-tailing Market among various business models. One of the major reasons for the boost in the market of Business to Consumer E-tailing market is the virtual transparency which is provided by the companies to the consumers. Business to Consumer model allows business companies to offer consumers with their desired products and services in quick-time and allows refund policies as well. Business to Consumers shows rapid growth in Travel Services and Consumer Electronics sector. The removal of middle-men between business and consumer tends to drive the market growth of E-tailing Market.
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E-Tailing Market Segment Analysis - By Geography
North America accounts for being the highest market among all the regions by geography. The market growth in this region is predominantly rising due to economies such as the US, Canada, Mexico and Others. Amazon.com company being the highest E-tailing market of North America accounts for about 50% of total revenue in this region. North America is closely followed by APAC and Europe in the market growth of E-tailing among which, India being one of the major regions of huge E-tailing Market. According to India Brand Equity Foundation (IBEF), India’s E-commerce will reach US $200Billion by 2026 growing at a CAGR of 31% in which grocery and fashion/apparel is likely to be the key drivers of incremental growth. Leading E-tailing market players of India are Flipkart, Amazon India and Paytm Mall.
E-tailing Market Drivers
Adoption of E-tailing Market by Brick and click E-tailers drives market growth
Recent market players of E-tailing Market majorly constitute of Brick and click E-tailers. In current pandemic situation of Covid-19, Brick and click E-tailers has taken on E-tailing platform for selling their products and services because it provides business to be connected to consumers in both physical and virtual form. This promotes the E-tailing Market globally. A Brick and click E-retailer company can offer customers the benefits of fast online transactions, electronic data interchange and traditional face-to-face services and is thus potentially more competitive than a traditional brick type of business, which is offline only. Brick and click market players are becoming increasingly popular as they provide consumers to examine their products offline, before buying them online. This type of business model is also referred to as clicks and bricks. The Brick and click type E-tailers model is being followed by an increasing number of big-brand retail stores, such as Walmart (WMT), Best Buy (BBY) and Nordstrom (JWN). The merging of online and offline channels provides customers with an enhanced shopping experience with more choices, greater flexibility through customer data analytics and online marketing strategy as well as more convenience. This distinctive facility and market trends enhances the E-tailing market.
Impact of Covid-19
The ongoing pandemic situation of Covid-19 will challenge the growth of many markets but it has been a boosting factor for E-tailing Market. The rise in Governmental regulations in every part of the globe to stay indoors has brought the consumers to buy daily usage products and services online and availing door to door delivery facility. Due to Covid-19, many of the Brick type E-tailers have adopted the Brick and Click type E-tailing market to have balanced investment and revenue ratio, thus avoiding major losses. Major boost for E-tailing market due to Covid-19 is the increase of Brick and click E-tailers worldwide. Due to Covid-19, many of the services which were limited only at stores are now available due to rise in E-tailing market as it offers services at home. Many other services such as Expert beauty, Cleaning and Repairing can be achieved staying indoors and ordering these services online. This promotes the market growth of E-tailing Market.
E-tailing Market Challenges
Lack of Consumer Satisfaction and Additional Charges
One of the major challenges faced by E-tailing Market globally is the Lack of Consumer satisfaction. E-tailing market does not provide the physical shopping experience that Brick stores can offer. Physical shopping often results in more consumer spending. E-tailing does not give the consumer experience shopping where consumers hold, smell, feel, or try on products before purchasing them. Increasing shipping costs and long delivery time of products are major challenges for e-tailing market. Availing personalized services at home by ordering online may lead to high expenses which is a major challenge. The unavailability of physical presence of products and the increasing options for multichannel transactions such as browsing, buying, return, and post-sale services by consumers are some of the major challenges restraining the market growth.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the E-tailing Market. The E-tailing Market is dominated by major companies such as Vipshop Holdings Limited, Costco Wholesale Corporation, The Home Depot Inc., Liberty Interactive Corporation, Macy's Inc., JD.com Inc., Apple Inc., Tesco PLC, Wal-Mart Stores Inc., Amazon.com, Best Buy Co., Alibaba Group, Suning Commerce Group Co. Ltd. and Casino Guichard-Perrachon.
In December 17, 2020 Wal-Mart Stores Inc., set up an online livestream shopping experience to its customers worldwide by partnering with TikTok where customers can buy latest fashionable wears which were promoted by famous TikTok creators. They named it “Holiday Shop-Along Spectacular.”
In September 23, 2020 Amazon.com announced Climate Pledge Friendly, a new program to help make it easy for customers to discover and shop for more sustainable products. Customers will now see the Climate Pledge Friendly label, when searching for more than 25,000 products to signify that the products have one or more of 19 different sustainability certifications that help preserve the natural world, such as reducing the carbon footprint of shipments to customers.
The E-tailing Market is estimated to witness sustainable growth over the forecast period because of its distinctive offering and vast availability of products, integration of customer data analytics, improved online marketing strategy and services available to the customers. E-tailing requires companies to sell their business models and capture Internet sales, which includes many varieties of products and services.
Adoption of Pure-play E-tailers type model by many E-tailers companies during current Covid-19 situation by investing in E-tailing market through their websites are major key takeaways of E-tailing Market.
Offering door to door delivery of vast quantities of products and services to the customers provides virtual transparency between Customers and Retailing company. This uplifts E-tailing market growth.
Ongoing pandemic situation of Covid-19 has promoted extensively the E-tailing Market. Government regulations to stay indoors has promoted both Pure-play E-tailers and Brick and click E-tailers to increase their business extent by providing more and more products and services through door delivery. This raises the Electronic retail demands in global market.
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