We regularly hear or read how things are going more and more online, especially after the last couple of years ( you can check our blog post How the Pandemic Drives the ecommerce Boom ) and the metaverse, but are there any numbers to support the allegations?
In this blog post we will cover:
- The share of online sales within total retail
- Why you should care about the growing share of online sales
- The number of people shopping online
- Turnover from online sales
- Promising countries for online trade
- What is the situation for the automotive aftermarket?
The share of online sales in the entire retail
On the chart below, we can see the share of online sales for the period 2015-2021 in relation to the entire retail trade. There is a clear sustainable growth that is consistently heading towards 20%. In 6 years the share of online sales has more than doubled.
Why should you care about this growing share of online sales?
If you are planning a business venture that involves exporting/importing goods, consider an option to sell online ( you can check our blog post Online Sales – How To Start Selling?). The trends are indicative enough and if you understand that then you will know it is necessary to pay attention to your online presence.
The number of people shopping online
The chart synthesises the period 2014-2021 and we see that in 2019 there are almost 2 billion online shoppers. According to Wikipedia, 48% of the world’s population uses the Internet. With 7.4 billion people, this makes about 3.5 billion people with access to the global network.
It turns out that out of 3.5 billion Internet users, 2 billion shops online. From this statistic alone we can judge that ecommerce has won its position and deserves the attention of businesses.
Turnover from online sales
We have come to the part where we will check how much money internet buyers spend. Here the numbers become cosmic and slightly comical, because the graph shows billions of dollars and for 2019 we see $ 3453 billion. This colourful amount is the equivalent of 3.4 trillion dollars. Such figures are seldom commented on and usually pop up around the foreign debt issues.
The growth rate of online sales remains positive; people are increasingly starting to put their trust in eshops and buying through them.
Promising countries for online trade
Obviously, India will be the leader in the growth of online trade (B2C online sales) for the period 2019-2023. You probably wouldn’t be surprised as the country has a population of 1.3 billion. If you ask Google what percentage of the population of India has access to the Internet you will get an answer of 34%. This is quite a bit, but if we compare it with Europe – 79% there is still a lot of space for growth (It’s predicted that the significant number of budget smartphones that manufacturers make for the Indian market also contributes to this).
What is the situation for the automotive aftermarket?
As with everything else, here too we are driven by the expansion of the worldwide ecommerce industry (you can check our blog post Beating inflation – is the automotive aftermarket expected to grow?). This is increasing all car sales and also the fast digitalisation of interfaces and channels. The worldwide automotive ecommerce market is projected to grow from $ 51.04 billion in 2021 to $ 202.94 billion by 2028, with a CAGR of 21.8% over the forecast period (the rise in CAGR is thanks to market demand and growth).
In addition, the expansion of the global automotive ecommerce market is due to increased demand for automotive components and parts because the fleet ages. Factors like higher price transparency, convenient shopping and a greater style and range of parts have led customers to shop more online. Additionally, the variety of online offers, a low-priced strategy, sales and shopping holidays combined with the flexibility to check parts online fast supported by warranty price and specification are further fuellingx the growth of the automotive aftermarket.