The Unprecedented Rise of Ecommerce
Purchasing goods online is now common for anyone with easy access to a smartphone or laptop. Amazon, Walmart, Alibaba, and other marketplace giants have made online ordering an integral part of our modern lives. In fact, an estimated 2.14 billion digital buyers are expected to buy goods and services in the global ecommerce market by 2021. This number is up 19.6% from 2018 — and the surge is only expected to continue.
Over time, purchasing power has also steadily shifted from the United States and Europe toward Asia. Chinese consumers make nearly a quarter of all retail sales online, whereas e-commerce accounts for less than 10% of retail sales in the US — making it only the second-biggest market for online sales.
Shipping internationally could help you expand your ecommerce brand and enter new customer segments. But it’s essential to first understand the overall market as a first step toward finding where your product best “fits.”
Find Your Market