Retail is moving from offline to online, especially after the lockdowns of 2020. Sellers and brands are pivoting to ecommerce websites from physical stores. As the e-commerce pie zooms ahead, this is a great time to expand your digital commerce business with new markets, marketplaces and categories opening up. you may be considering new geographic markets to expand to, or new marketplaces to sell on. If you are investing in e-commerce growth, we hope this post will help you find new frontiers and customers for your e-commerce brand.
The top 10 ecommerce markets in the world
Globally, ecommerce is different in every country. As you look to expand to new markets, it helps to know about the global markets before you make your first move. Here are the top ecommerce markets globally:
China is the largest market globally, and is also the country that produces the bulk of goods sold on ecommerce platforms in every other country. The top ecommerce player in China is Alibaba. Due to strict regulation, China is a difficult market to break into.
The US comes in second, and is an interesting market not just for Americans, but even for those who live outside the US. You can easily start an ecommerce business in the US even if you’re based outside the country. Various European and Asian markets round out the top 10 list.
Most likely, you are looking to target the market where you reside. Or, you may want to venture out to another market that interests you more. Whichever the case, we’ll help you decide by pulling together the vital facts to look at in any ecommerce market.
Let’s look at the global ecommerce markets and get an overview of which markets are the best options for you to expand to next.
India – Fast growing market, with some quirks
Summary
The Indian ecommerce industry is growing at a rapid pace and is set to touch $62.2 billion by 2023.
Key players
The top ecommerce companies in India are Amazon India, and Walmart-owned Flipkart.
Estimated number of monthly visits
- Amazon India: 200M
- Flipkart: 157.5M
- IndiaMart: 52.2M
- Myntra: 14.2M
- Snapdeal: 12.9M
- FirstCry: 12.5M
- 1mg.com: 9.05M
- BookMyShow: 7.2M
- Nykaa: 5.35M
- 2gud.com: 4.65M
Among the independent ecommerce players, brands like BookMyShow (ticketing), FirstCry (kids & baby products) and 1MG (pharma) show that there is strong demand for niche products as well.
Top categories
Here are the best selling ecommerce categories in India:
Electronics
While the top sellers of electronics online are Amazon and Flipkart, there are many other marketplaces that attract a good number of buyers. Snapdeal, Shopclues, 2GUD, and PayTM Mall are other pure play online marketplaces. There are also a few marketplaces that have both online and offline distribution. These include Reliance Digital, Tata-owned Croma, and Sangeetha Mobiles.
Within electronics, smartphones is the top performing product accounting for about 50% of sales within the category. Other top products include mobile accessories like earphones, and computer accessories like monitors and keyboards.
Apparel
When it comes to apparel, Flipkart’s Myntra and Jabong have a strong presence and an early start. Others include Reliance-owned Ajio, Limeroad, Zivame, and the Chinese brand Shien. Upcoming fashion brands that have been funded recently include FabAlley and Styched. Amazon has been making strides in the apparel category, and is catching up.
Other categories
Other profitable categories are toys and games, and food and wellness products. These products have additional health and safety regulations. However, the regulations aren’t as strict as in the US.
The B2B ecommerce landscape is also growing at a rapid pace. Reliance has recently announced its Alibaba-alternative for India, which will compete with the likes of IndiaMart – the leading B2B marketplace today. Brands like Moglix and ShakeDeal are also gaining market share among buyers of industrial equipment.
The US – Mature, and highly competitive
Summary
The American ecommerce market is the most mature globally. Ecommerce brands have established themselves over many years. Shoppers in the US have the highest level of trust when buying online.
Key Players
Amazon has led the ecommerce industry in the US for over a decade. Walmart is late to the ecommerce party, but is now starting to invest heavily into ecommerce to compete with Amazon.
eBay is in the third spot, while others like Target, Etsy, The Home Depot, and Best Buy round out the top 10. The Chinese AliExpress just about manages to make it to the 10th spot. However, this is likely to change with the recent pandemic and anti-China sentiments in the US.
The good thing is that for a seller, you have many established marketplaces where you can set up shop easily, and start selling your products. But beware, the competition is intense as there are already mature sellers in every category. It would take disruption to reach the top in any category in the US ecommerce market.
Top categories
Though you might think electronics would be the top category in the US, it’s actually Books, music & video. Americans take their entertainment very seriously.
Electronics is the second-highest category followed by Toys & hobby products.
When it comes to apparel, there are marketplaces like Not Just A Label, ASOS, and Nineteenth Amendment. There are also niche websites that focus on sub-categories like bridal wear (Bride.com), lingerie (Boohoo), and kids clothing (The Children’s Place).
The UK – Lots in common with the US
Here are the top online marketplaces in the UK:
- Amazon: 416.9M
- Ebay: 244.9M
- ASOS: 22.4M
- Etsy: 19.4M
- Wayfair: 16.3M
Amazon and Ebay are the top generic marketplaces in the UK, but there are other category-specific marketplaces as well.
Game.co.uk is the top electronics marketplace in the UK with a focus on video gaming products. For apparel and fashion, Next.co.uk tops the list with a focus on women’s and kids’ clothing.
Many brands like Etsy and Wayfair are successful in both the US and the UK. This shows that these markets have a lot in common. For sellers and brands that already have a presence in the US, the UK is a
Europe – A mix of the big and small
The Europe market is interesting because it makes up many countries that are part of the EU.
Unsurprisingly, Amazon and Ebay are the most popular ecommerce platforms here. However, at number three is AliExpress, the Alibaba-owned ecommerce platform from China. Allegro is a Poland-based ecommerce company that recently had an IPO. It presents a unique opportunity for expanding in the EU markets.
Zalando is the top fashion e-tailer in Europe, and Amazon leads with electronics. Wayfair has a sizable presence for home decor products
Australia & New Zealand – Ebay in the lead
Unlike in most markets where Amazon dominates, in the AU/NZ market Ebay comes out on top with Amazon taking the second spot. Catch.com.au is a popular marketplace in Australia. When it comes to fashion The Iconic and ASOS are big players in this market.
Woolworth’s and K-Mart are two Australia-born retail brands that have expanded to have an online presence
ASEAN – Home-grown brands
The ASEAN market includes 11 countries such as Singapore, Indonesia, Malaysia, and the Philippines. They represent a fast-growing market that the big players like Amazon and Walmart haven’t penetrated yet. Instead, local players like Shopee, and Lazada reign in these markets. However, with a huge $2 billion investment in Lazada, Alibaba owns a majority stake in the company.
For fashion, Zalora is a popular ecommerce marketplace in the region.
Conclusion
If you’re in the ecommerce business, you need to be on top of these key figures. Knowing the key players in the market, top categories, and unique characteristics of your market are important for your success. Taking a global view of ecommerce you’ll find that the opportunities are everywhere, and today’s ecommerce market is without boundary.
Do you have any insights into these markets you’d like to share with us? Leave a comment below.
Upcoming Webinars
Demo Webinar 1
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.
- Live Crypto Rate.
- Latest Cryptocurrency News.
- Crpytocurrency Exchange.
