BRICS e-commerce retail market is projected to have a considerable CAGR of around 13.5% during the forecast period. The e-commerce retail market in the BRICS region has been positively influenced by a variety of pivotal factors such as increasing smartphone and internet users, improving transport connectivity, and the availability of an inexpensive workforce. The increasing number of smartphone and internet users in the countries such as India, China, Brazil, and Russia created ample opportunities for the e-commerce retail market. Further, China, India, and the South African countries have the economic workforce and funding initiatives that have led to a rise in start-up businesses adopting e-commerce platforms. For instance, in February 2021, B2B sourcing and procurement platform GlobalFair has raised $2.0 million in a seed funding round led by Saama Capital and India Quotient. Moreover, the e-commerce retail market in China is propelling at a much faster rate than Japan and is expected to overtake Japan’s e-commerce retail market in the near future. South Korea’s annual average spent per online shopper was accounted for $1,364 and has an e-commerce sales share of 84% of GDP.
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However, high costs for reverse logistics, lack of adequate data, logistics infrastructure, trust, regulations, cross-border customs clearance, and talent are still major concerns for the market growth. The cost incurred when the customer returns and replaces the product increases the expenditure of the company. The increasing number of returns and replacement of goods can create a major problem for any e-commerce company. China has the largest share of the e-commerce retail market among all the countries in the world followed by India. Improved infrastructure, cohesive government policies, and a growing e-commerce market boost the growth of the e-commerce retail market. The growing trend of online launching of products and exclusive sales creates scope for the e-commerce retail market.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
BRICS e-comerce Retail Market Report Segment
By End-User
- Business to Consumer (B2C)
- Business to Business (B2B)
- Customer to Customer (C2C)
By Products
- Electronics
- Fashion
- Healthcare
- Automobile
- Beauty and Personal Care
- Others
By Device Used
- Smartphone
- Tablets
- Personal Computer
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the BRICS e-commerce Retail market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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