Fastest Growing E-commerce Industries
The Fastest growing Ecommerce Markets continue to develop on a global scale. With each passing day, new and faster-growing e-commerce markets have emerged, and the existing markets have entered a new stage. Here, we looked at the world’s largest e-commerce market (in terms of sales) and the status of the ongoing e-commerce trends thereby country. transaction.
With each passing day, new and faster-growing e-commerce markets continue to emerge, and the stable market is achieving new milestones. China and the United States have the fastest-growing and complete e-commerce markets, and they are likely to lead the way in the next decade.
Emarketer has published a list of e-commerce markets with the highest growth rates. We are here to study these markets.
The United States and China have been the largest Fastest growing Ecommerce Markets for many years and are likely to maintain these two leading positions for many years to come. Here, we studied the top 5 countries with the fastest growing e-commerce market.
Mexico
Mexico may not be your first guess as to which country is at the top of the list. Much of the growth in e-commerce in Mexico can be attributed to the growth of MercadoLibre and its innovations in payment and fulfillment methods, which have made online shopping easier and more convenient.
Highest market: Mercado Libre MX
Growth rate: 35%
Global ease of doing business score: 60
Amazon Mexico e-commerce partner
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Philippine
The desire for products that cannot be found locally is a significant growth driver for the Philippines market, making it an excellent choice for foreign brands.
Lazada under Alibaba is the dominant market in the Philippines, followed by Shopee.
Upper Market: Lazada
Growth rate: 31%
Global Ease of Doing Business Score: 95
China
China is the largest and fastest-growing e-commerce market in the world. They have slightly overtaken the number of internet users in the country, with nearly 632 million internet users.
Advertising investment is necessary to occupy an important position in the market. Success in China requires trial and testing in an e-commerce strategy. Ideally, part of your team is based in this country.
Annual online sales: $672 billion
Share of e-commerce in total retail sales: 15.9%.
Leading group: Alibaba
Popular market: Taobao
Global Ease of Doing Business Rating: 31
Malaysia
Malaysia, like its neighbor Singapore, is a cross-border e-commerce hotspot. It is estimated that 40% of cross-border e-commerce orders come from the US or China.
Like the Philippines, social media has helped drive much of the growth of e-commerce, with 25 million active social media users (78% of the population).
United States
Annual online sales: $340 billion
Share of e-commerce in total retail sales: 7.5%.
Leading group: Amazon
United kingdom
Annual online sales: $99 billion
Share of e-commerce in total retail sales: 14.5%.
Leading Collection: Amazon.co.uk
Japan
Annual online sales: $79 billion
E-commerce share of total retail sales: 5.4%.
Leading group: rakuten.com
Germany
Annual online sales: $73 billion
E-commerce share of total retail sales: 8.4%.
Leading Team: Amazon.de
France
Annual online sales: $43 billion
The share of e-commerce in total retail sales: 5.1%.
Leading group: Amazon.fr
Korea
Annual online sales: $37 billion
Share of e-commerce in total retail sales: 9.8%.
Leading group: Gmarket.co.kr
Canada
Annual online sales: $30 billion
Share of e-commerce in total retail sales: 5.7%.
Leading group: Amazon.ca
Russia
Annual online sales: $20 billion
Share of e-commerce in total retail sales: 2%
Leading group: Ulmart.com
Brazil
Annual online sales: $19 billion
E-commerce share of total retail sales: 2.8%.
Leading group: Mercadoliber.com.br