Online sales/purchase is growing tremendously all over the world. With the advent of time, new ecommerce markets are frequently emerging in the world. Here we will have a look at the top 10 ecommerce economies that dominate in the world.
China is the biggest ecommerce market all over the world that is dominating the world. The ecommerce brands like Alibaba.com, Alibaba group, and Taobao are a few top brands that marked the success story of China in the ecommerce market. Apart from this, China is also a giant player in the services ecommerce.
Annual online sales that China is meeting every year are estimated to be 672$. China comes with 15.6% online sales out of the country’s total retails. Apart from total ecommerce, China also has the biggest share in the global retail market.
United States of America
After enjoying the top figure in global ecommerce for many years, the USA stands second after China. The leading brands that are operating in the USA market are Amazon, eBay, and Walmart. The USA stands second with 340 billion USD ecommerce sales per annum.
The USA’s ecommerce share is estimated to be 7.5% of its total retails that is even less than half of China's retail share.
Despite the UK’s low population, the United Kingdom also secures the third position in the global ecommerce scale. Amazon.uk, Play.com, and Argos are three leading brands that operate in the UK market. UK stands third in the global market with 99B USD ecommerce sales per annum.
The country’s ecommerce share is second big in the total retails of the United Kingdom which is estimated to be 14.5% after China. It tells the tendency of the UK population to be enjoying good experiences buying/selling online.
Japan secures the 4th position in the global ecommerce list. The country’s leading brand is said to be Rakuten. Apart from this, Japan has a lot of emerging ecommerce platforms actively operating in the country. When it is about figures, Japan secures 79 Billion USD of total annual ecommerce sales.
The country’s ecommerce share is 5.4% of the country’s retail sales in the country. This share is mostly said to be as ecommerce to retail ratio as well.
After the UK market, Germany is 2nd ecommerce market in Europe and 5th highest globally. eBay and local e-retailers are the real contributors that play their part in the country’s retail business. German market share is estimated to be 73 billion USD that is the second-highest in Europe.
The country’s ecommerce share with the total retail sales is estimated to be 8.4% that tells the good trend of people engaged in the retail activities of the country.
France stands 3rd in Europe and 6th in the Global ecommerce to be playing its role. Amazon is one of the leading brands that contribute to the ecommerce of France. Apart from Amazon, the local ecommerce brands are also taking an edge over their counterpart, Amazon.
When it is about the statistics, France comes with $43 billion ecommerce volume or online sales. Apart from e-retailing. France is also one of the bug technology sellers. On the other hand, the ecommerce share of the country’s total retail is said to be 5.1% that is quite low in comparison to the other countries.
South Korea is the 7th highest contributor to the global ecommerce economy. The leading brands that target the ecommerce in South Korea are thought to be Gmarket and Coupang. Other than these brands, other local brands do contribute to the ecommerce of the country.
The statistics tell that South Korea has 37$ billion shares in the Global ecommerce economy. When it is about ecommerce of the country, it manages to have a 9.8% share of the total country’s retails. The 9.8 % share of ecommerce tells that there is a good response from the country’s population to buying things online.
Canada gets 8th in ranking when it is about the country’s contribution to the global ecommerce economy. Amazon tapped into the country’s ecommerce and secured an overwhelming response both in the technology and retail sectors. Other foreign brands are also taking part in the country’s ecommerce. In Canada, Amazon’s warehousing is powered by Costco.
According to the statistics, Canada is getting $30 billion in the global ecommerce economy. The ecommerce of the country takes 5.7% out of the country’s total retails.
Russia is the 9th most effective contributor to global ecommerce. Despite having the highest number of internet users, the country’s share is not as big as it should be. Ulmart, Citilink, and Ozon are the core contributors to the ecommerce of the country.
Statistically, Russia’s share of the global ecommerce is assumed to be $20 billion. The total ecommerce share of the total sales in the country is 2%. The reason behind this low ecommerce figure can be predicted as the untapped ideas to satisfy the actual needs of the Russian’s.
Looking into the further ecommerce statistics may let one know the country untapped ecommerce sector.
Brazil stands last in the list of top 10 countries that contribute to the global ecommerce. The north-American brands like Amazon think to get a share in the country’s ecommerce. Due to local payment methods prevailing in the country, it couldn’t tap into the country’s ecommerce yet.
Annual online sales of Brazil are estimated to be $19 billion that stands with 2.8% of the total retail of the country. The online sales share is not too big but the estimated growth in previous years is said as 22% in Brazil.
According to Statista.com, there are around $3.53 trillion of global online sales that happened internationally or locally in 2019. These are the top 10 contributors to this huge figure of $3.53 trillion. A deep analysis of a particular economy’s statistic may let one know the hurdles and improvements in the country’s ecommerce.
For more details on how to improve the ecommerce or retail business. Here are a few suggested readings.
Retailing in ecommerce- E-tailing
Conversion Rate Optimization- stead fast ways