B2C E-Commerce

E-commerce has integrated well within many segments of the retail and consumer goods market. From consumer electronics to furniture, personal care products to household goods, e-commerce purchases are increasingly generating higher revenues. But the performance of online channels is particularly stellar in the fashion segment. In 2024, the fashion e-commerce market revenue is estimated to reach 770 billion U.S. dollars worldwide.

Increasingly, retailers and e-commerce platforms are diversifying the shopping channels offered to consumers. In addition to mobile-optimized websites, many brands invest in shopping apps to create more convenient and smooth shopping journeys. Globally, the Chinese online marketplace app Temu was the most-downloaded shopping app in 2023.

Two of the biggest players in the global e-commerce market are Amazon and Alibaba. Amazon ranks first among the leading large cap e-commerce companies worldwide, with a staggering market cap of roughly 1.3 trillion U.S. dollars. On a global level, Amazon's main competitors are Chinese companies. The Alibaba Group and Pinduoduo are dominant in their home country, and quickly expanding internationally.

With the highest population density and some of the most robust economies in the world, it is no surprise that the e-commerce market is the largest in Asia. China alone is estimated to have over one billion e-commerce users. E-commerce revenues in Asia are estimated to have exceeded 1.6 trillion U.S. dollars in 2023. By comparison, in the Americas, the total retail e-commerce revenue amounted to less than one trillion U.S. dollars in the same year.