This market research report presents a detailed segmentation of the online retail market in the US by product type (food and grocery, apparel, footwear and accessories, music, software, books and stationary, home care products, consumer electronic and electricals, and home furniture and furnishings) and by devices used for shopping (PCs, smartphones, and tablets). The report provides a market share analysis of the leading companies in the market such as Amazon, eBay, Walmart, Costco, and Target.
Technavio has released a new market research report on the online retail market in the US, which is expected to grow at a CAGR of 14% by 2020. Increased penetration of internet and use of smartphones have boosted the online retail market in the US. Services such as free shipping and product returns that enhance consumer experience are also propelling the market for online retail in the US.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Omni-channel retailing is fast becoming the norm for the majority of retailers in the US as it offers consumers an option to shop online and pick up the merchandise from the store on the same day at their convenience. During the forecast period, the market will witness the introduction of online-only brands and products. Selling these brands exclusively online is cost-effective for the company as no floor space in retail stores is required. Most retailers will adopt similar strategies to reduce costs and increase their margins over the next four years,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research
The consumer electronics and electricals segment accounted for approximately 30% of the market share in 2015. This segment experienced high growth as consumers prefer to buy mobiles, tablets, LED/LCD TVs, laptops, and electric cookware online. Smartphones are the most popular shopping devices generating online sales, as they are considered a convenient option for shopping by many people.
The leading vendors in the online retail market in the US are Amazon, eBay, Walmart, Costco, and Target. To retain their competitive edge, the leading market vendors are investing heavily in digital payment services to help consumers make payments at the point-of-sale through smart devices. According to e-Marketer, total mobile payments in 2015 in the US is expected to grow to more than $110 billion by 2019 to leverage the demand from retailers in the US.
A more detailed analysis is available in the Technavio report, Online Retail Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Online retail market in China 2015-2019
- Global duty-free retailing market 2015-2019
- Grocery retail market in UK 2015-2019
- Online fashion retail market in India 2015-2019
- Global luggage market 2016-2020
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