Projected E-Commerce Growth
The e-commerce sector has truly exploded over the past few years. More and more people have opted to shop online, while many new businesses have flooded the market. Companies, such as eBay and Amazon, have helped to transform the United States into one of the biggest e-commerce markets in the entire world. At this point, it may seem like the US e-commerce industry has hit the ceiling, but this isn’t the case. There is actually room to grow and analysts believe the e-commerce market within the country will continue to grow over the course of several more years. And, the United States is not alone. According to recent reports, Sweden has experienced an 18% increase in e-commerce sales during the second quarter of 2016.
What will sales be in 2019 and beyond
In 2015, e-commerce sales brought in 342.96 billion dollars in the United States. By the year 2019, it is expected to bring in over 600 billion dollars! During that same year, apparel and accessories sales through e-commerce channels are expected to generate over 100 billion US dollars! While the United States will continue to grow, it cannot compete with China at this point in time. The e-commerce market in China is still much bigger than that of the United States and this has led many to believe that the United States’ economy will be overtake by China in the near future. Jack Ma’s Alibaba has also give China a major edge over its competitors.
And, the United States isn’t the only country, which intends to expand their e-commerce market over the coming years. Indonesia wants to flourish in the online scene and in order to do that, they have decided to team up with Jack Ma. Ma will utilize Softarex and provide technological support to the country, while helping to boost their e-commerce market. The country’s Coordinating Minister for Economic Affairs, Darmin Nasution, intends to bring 8 million small to medium sized enterprises to Indonesia’s online world by the year 2020. And, it seems he believe Jack Ma is the very man, who can help make it happen.
Successful E-commerce Industries
Beauty products are extremely popular among women in the United States. Many female consumers have discovered that the e-commerce offers a broader opportunity to invest in new products and brands. You also have those that consumers reside in small communities, where there are few brick and mortar beauty supply stores. This leaves them no alternative, but to turn to the Internet. The beauty market is expected to expand by 6% by 2020 due to demand of the large number of millennials. This will have a great impact on mall traffic, but consumers prefer shopping online, because it is so convenient.
Amazon is one of the top e-commerce marketplaces, offering an unlimited array of products. The company has flourished since its 1994 opening and is expected to grow even larger in the near future. Amazon has also been rated as having the best customer support service in the world, which is why many consumers continue to return. Amazon has helped the US e-commerce marketplace grow and it will continue doing so well into the future.