Global Market for eCommerce & Other Non-Store Retailers, 2022-2026 - Pandemic Bolsters e-Commerce as a Preferred Retail Channel
Dublin, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The "eCommerce and Other Non-Store Retailers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global eCommerce and Other Non-Store Retailers Market to Reach US$5.1 Trillion by the Year 2026
The rise in non-store sales will soon outrun in-store sales as world e commerce revenues climb up sharply. A major trigger for this expansion is the world market's recovery from the pandemic and re-establishment of operations. Enterprises that were struggling due to containment strategies, remote working, social distancing and limited commercial activities along with operational challenges are refurbishing themselves. Retail enterprises are ceaselessly striving towards offering a seamless shopping experience to shoppers and the integration of the brick and mortar stores with virtual shopping models.
Vending machines are embracing gamification technology with their tools to fortify consumer interaction. The interactive engagements between product and customer allow a smoother consumer experience and return rates. The extensive adoption of sophisticated analytics and artificial intelligence is another strong trend. The non-store retail format generates a huge volume of fresh data for retailers. The retailer must therefore employ technology that assimilates all this data into a single platform that offers a single format of truth. Another major trend is accessing customers at their preferred locations. Digital avenues like social media and SMS can create an instantaneous social relationship.
Amid the COVID-19 crisis, the global market for eCommerce and Other Non-Store Retailers estimated at US$2.3 Trillion in the year 2020, is projected to reach a revised size of US$5.1 Trillion by 2026, growing at a CAGR of 13.5% over the analysis period. eCommerce, one of the segments analyzed in the report, is projected to grow at a 14.6% CAGR to reach US$5.1 Trillion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Direct Selling Establishments segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 13.1% share of the global eCommerce and Other Non-Store Retailers market. Rise in eCommerce amid the pandemic led retailers to focus more on enhancing online purchasing experience for customers. The global ecommerce sector has been witnessing robust growth over the past several years, led by continuous advancements in Internet speed and bandwidth, and proliferation of smartphones and the use of the same for online shopping and banking.
The U.S. Market is Estimated at $979.2 Billion in 2021, While China is Forecast to Reach $740.4 Billion by 2026
The eCommerce and Other Non-Store Retailers market in the U.S. is estimated at US$979.2 Billion in the year 2021. The country currently accounts for a 34.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$740.4 Billion in the year 2026 trailing a CAGR of 16.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$197.1 Billion by the end of the analysis period.
Vending Machine Operators Segment to Reach $113.8 Billion by 2026
Vending Machines (VMs), designed to dispense consumer products and other goods and services, are commonly used in the automatic retailing market as well as in public buildings, hospitals, gas stations and airports. These machines have witnessed notable evolution over the years and now feature interactive displays, telemetry systems, cashless payment options, face recognition systems, and ID card identification providing convenience to consumer and service providers, ushering an era of intelligent vending solutions. Vending machines also allow companies to strengthen their pricing power and improve operating margins.
In the global Vending Machine Operators segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66.4 Billion in the year 2020 will reach a projected size of US$92.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.6 Billion by the year 2026, while Latin America will expand at a 6.9% CAGR through the analysis period.
Select Competitors (Total 133 Featured)
Alibaba Group Holding Ltd.
Amazon. com, Inc.
Amway Corporation
eBay Inc.
QVC, Inc.
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
Pandemic Triggers Non-Store Retail Formats
E-Commerce Platforms Make Strong Gains as Physical Stores Shut Shop During the Pandemic
Impact of COVID-19 Pandemic on Prospects of Direct Selling Retail Sector
The COVID-19 Effect on Vending Machine Industry
An Introduction to Non-Store Retailing
Benefits and Drawbacks of Non-Store Retailing
Global Market Prospects & Outlook
Competition
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Non-Store Retailing Sector Benefits from the Digital Transformation of Retail Sector
Top Digital priorities for Retailers
Rise of e-Commerce Catalyzed by the Pandemic Shifts Growth Into High Gear in the Non-Store Retailing Market
Pandemic Bolsters e-Commerce as a Preferred Retail Channel
Ecommerce Trends Power Online Retail Industry
Internet Infrastructure, the Catalyst for Digitalizing Consumer Lifestyles Including Digital Commerce
Modern Digital Life and Ubiquity of Mobile Computing Devices Spur Mobile Commerce Sales
Spiraling Mobile Broadband Subscriptions Bode Well for Mobile Commerce
Artificial Intelligence Emerges to Revolutionize Digital Commerce
Ecommerce & AI Use Cases
Online Retailers Eye AI to Boost Business in Post-COVID-19 Era
Augmented Reality & Virtual Reality Emerge to Revolutionize E-Commerce
Vital Role of Social Commerce in an e-Commerce Strategy
Brands Turning to Social Commerce to Boost Customer Loyalty
Blockchain Benefits in Social Media & Social Commerce
Need to Provide Seamless Shopping Experience Leads Retailers to Establish Presence across Multiple Channels and Platforms
With COVID-19 Pandemic Exacerbating Challenges for Brick-and-Mortar, Omnichannel Emerges as the Strategy to Survive and Thrive
Brick-and-Mortar Retail Sector Looks for Revival with Omnichannel Strategy
Mobile Emerges as the Primary Platform to Connect Online and In-store Consumer Experiences
Self-Service Trend Presents Opportunities for Vending Machine Operators
Micro-Market Vending Revolutionizes Convenience & Variety in Product Choice
Intelligent Vending Machines-Marking an Era of Innovations
Integrating IoT with Vending Machines to Boost Revenue Flow
A Review of Trends Poised to Transform the Vending Industry
Pandemic Stimulates Innovations in Vending Technology & Machines
Direct Selling Market Confronts Testing Times due to Pandemic
Major Trends Positively Influencing Direct Selling Businesses
Security and Privacy Concerns: The Biggest Challenges for E-Commerce Market
Rising Popularity of e-Commerce and Mobile Commerce Threatens Traditional Retailers
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 133
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