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Subject: MRR

Global Ecommerce Market Intelligence Subscription Service: Consumer Spending is Expected to Decline Further in H1 2024 Amid Economic Uncertainties Globally


DUBLIN, March 26, 2024 /PRNewswire/ -- The "Global Ecommerce Market Intelligence Databook Subscription - Q1 2024" report has been added to ResearchAndMarkets.com's offering.

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Global Ecommerce market is expected to grow by 1.76% on annual basis to reach US$7,633.2 billion in 2024.

The medium to long term growth story of global Ecommerce industry promises to be attractive. The Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 6.64% during 2024-2028. Global Ecommerce gross merchandise value will increase from US$7,501.3 billion in 2023 to reach US$9,872.6 billion by 2028.

In 2024, the global B2C e-commerce sector is expected to record strong growth. The factors aiding the market growth include convenience, rising disposable income, and improved infrastructure. The integration of artificial intelligence with e-commerce marketplaces is also expected to gain momentum over the medium term. In 2024, the publisher also expects sustainable shopping to gain popularity among consumers who are shifting towards responsible consumption habits.

The competitive landscape is poised to further grow in the global market on the back of rapid expansion strategy adopted by Chinese e-commerce firms like Temu, Shein, and Alibaba. TikTok, on the other hand, is also eyeing a major share in the United States e-commerce market. As a result, the publisher expects Amazon to also increase its investment in the global market to aid revenue growth over the medium term. Overall, the publisher maintains a positive growth outlook for the global e-commerce industry over the next three to four years.

Consumer spending is expected to decline further in H1 2024 amid economic uncertainties globally

Rising inflation and surging cost of living dampened consumer spending globally in H2 2023. With consumers spending less on splurging and saving more amid the fears of recession, online order volumes have declined significantly in some regions. For instance,

European Ecommerce markets are one of the worst affected globally due to economic uncertainties. Even during the year-end holiday shopping season, consumers have reduced their spending on retail purchases, thereby affecting the growth of the market. The trend is projected to further continue in H1 2024, as central banks continue to hike interest rates to bring down inflation.

While Europe has been largely affected, other markets have shown strong momentum in the year-end holiday shopping season. Amazon, for instance, announced that the 2023 Thanksgiving has been the biggest ever for the firm. During the four-day shopping event, independent retailers on the marketplace sold more than US$1 billion on the platform.

Similar trends were visible in the Indian market, wherein Ecommerce marketplaces recorded strong growth during the Diwali shopping season. Players such as Meesho have recorded 910 million orders during the 12 months of 2023, with the online shopping trend growing in Tier III and IV cities of the country.

In H1 2024, though, consumers are projected to restrict their spending amid the fears of recession. Furthermore, with their monthly budget impacted significantly due to the rise in product prices, order volume is expected to decline across product categories and the Ecommerce segment.

Consolidation is projected to continue in the food and grocery delivery segment globally

During the pandemic outbreak, the food and grocery delivery market recorded strong growth. However, the momentum started to decline in 2023 and the sector entered into a period of consolidation. In 2024, the publisher expects further consolidation in the space amid economic uncertainties faced by players operating in the segment.

Amid the decline in order volume, many good and grocery delivery firms have announced a decline in their valuation. Instacart, for instance, which started 2023 with a valuation of nearly US$40 billion, announced several valuations cut throughout the 12 months. In December 2023, the firm announced another valuation cut to US$10 billion.

Along with the decline in valuation, firms are also entering into mergers and acquisition deals to consolidate their position in the respective markets. In December 2023, Getir announced the acquisition of Gorillas in a US$1.2 billion deal. The agreement will allow Getir to further strengthen its position in the European and the United States market.

In H1 2024, the publisher expects more such merger and acquisition deals to take place in the global Ecommerce market, as the food and grocery delivery segment continues to face inflationary and reduced consumer spending pressures.

This report provides a detailed data-centric analysis of Ecommerce market dynamics, covering over 50+ KPIs globally. It details market opportunities across key Ecommerce verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer).

Amazon joins Netflix and Disney+ by launching ads on the streaming platform to aid revenue growth

Over the last few years, many of the leading streaming providers have launched ads-supported plans on their platforms to aid revenue growth, while making the service attractive for the global audience. Some of these streaming platforms included the likes of Netflix, Disney+, and Paramount+.

Amazon Prime Video, in January 2024, also integrated ads into the service to aid revenue growth. The firm is asking an additional US$3 from the users to keep Prime Video ad-free. This is on top of the US$139 paid by members for Amazon Prime. With subscribers' growth becoming stagnant for most of these streaming services providers, integrating ads is part of their strategy to drive revenue growth.

Apple TV+, among all the major streaming services, is the only one that does not have ads currently. However, it is also because the service is relatively small compared to Amazon Prime Video. While Apple TV+ has only 25 million subscribers, Amazon Prime Video has 200 million subscribers. Thus, even without ads, Apple TV+ has a plenty of headroom for growth over the medium term.

This title is a bundled offering, combining 21 reports, covering regional insights along with data-centric analysis at regional and country levels:

Scope for Each Report

Ecommerce Market Size and Future Growth Dynamics

Ecommerce Market Share by Key Players

Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2019-2028)

Ecommerce Market Size and Forecast by Retail Shopping Sales Channel

Ecommerce Market Share by Travel and Hospitality Sales Channel

Ecommerce Market Size and Forecast by Online Food Service Sales Channel

Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)

Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2019-2028)

Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2019-2028)

Ecommerce Market Size and Forecast by Operating System

Ecommerce Market Size and Forecast by City

Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)

For more information about this report visit https://www.researchandmarkets.com/r/v9tytr

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets


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