Home / Knowledge / News / Apparel/Garments / 'Ecommerce will account for 5.9% of global retail market'
'Ecommerce will account for 5.9% of global retail market'
24
Dec '14
In spite of ecommerce making significant progress in the last few years, it will account for only 5.9 per cent of the total retail market worldwide in 2014, forecasts eMarketer.
 
In its first-ever forecast of the global retail market and retail ecommerce sales worldwide, eMarketer predicts retail sales worldwide—including both in-store and internet purchases—will reach US$ 22.492 trillion this year.
 
The global retail market will see steady growth over the next few years, and in 2018, worldwide retail sales will increase 5.5 per cent to reach $28.300 trillion, says the study.
 
“When it comes to retail products and services purchased on the Internet, ecommerce will account for 5.9 per cent of the total retail market worldwide in 2014, or $1.316 trillion. By 2018, that share will increase significantly to 8.8 per cent, yet retail ecommerce will still account for just a fraction of in-store purchases even as it nears $2.5 trillion by the end of our forecast,” eMarketer said in a statement.
 
The world’s leading ecommerce markets are China and the US, which together account for more than 55 per cent of global Internet retail sales in 2014. The report predicts that the gap between these two countries will widen over the next five years, and China will exceed $1 trillion in retail ecommerce sales by 2018, accounting for more than 40 per cent of the total worldwide. The US will maintain its position as the second-largest retail ecommerce market in 2018, totalling nearly $500 billion that year, while the UK will account for about one-quarter of that figure, landing in a distant third place.
 
Ecommerce share of total retail sales can mean different things in different markets. In the case of the US, approximately 63 per cent of population will make a digital purchase this year, yet only 6.5 per cent of US retail sales are expected to come from Internet transactions, increasing to 8.9 per cent by 2018. On the other hand, China and the UK—the other two largest ecommerce markets—have much higher proportions of online-to-total retail sales than the US. (RKS)
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search