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Anonymous
Asked: January 23, 20202020-01-23T00:54:40+00:00 2020-01-23T00:54:40+00:00In: Business & Finance

What is the global e-commerce market size?

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E-commerce (electronic commerce) or internet commerce is the buying and selling of various products on the internet. Companies can use their own websites or third-party platforms as a marketplace for selling the products.

e-commercemarket size
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    1. Arlie Bosco Level 1
      2020-01-26T01:07:09+00:00Added an answer on January 26, 2020 at
      This answer was edited.

      E-commerce market size

      The global market size of e-commerce is estimated to reach about US$ 3.2 trillion, in 2019, and is projected to reach US$ 6.5 trillion in 2026.

      Analysis of the e-commerce market

      The first e-commerce website was introduced back in 1982, which was known as Boston Computer Exchange. The main purpose of the website was to provide a platform for people who are interested in selling their used computers. After that, a lot of e-commerce websites popped up all over the world.

      Currently, there are millions of e-commerce stores on the internet, which are trading products all over the world. Various successful e-commerce websites also moved towards other advanced businesses, such as Amazon, to increase their market capital.

      The main drivers behind the growth of the e-commerce market include:

      • Increase in the use of online shopping
      • Discounts provide by e-commerce websites
      • Selling products without the extra expense of maintaining a physical shop
      • Online delivery features
      • Interacting with customers directly
      • 24/7 business hours

      There are also some restraints, such as costly maintenance of websites, huge risk of failure for newcomers, security issues as it has a lot of important personal data such as credit card numbers, and problems with shipping and delivery.

      North America also has more e-commerce customers as compared to other regions, and the US ranked second in the race of having more e-commerce customers around the world, followed by China.

      Leading e-commerce companies

      • Amazon
      • Alibaba
      • Best Buy
      • eBay
      • Flipkart
      • Newegg
      • Overstock
      • Taobao
      • Target
      • Walmart
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