1. Definition of global e-commerce and market size
First, first, global e-commerce is the sale of products or services across geopolitical borders in a company’s country of origin – usually defined as its basis or inclusion. The products or services are sold in local or foreign markets through online sales and marketing. The accumulated data envisage a 276.9% increase in e-commerce sales worldwide during the last monitoring period.
Numbers of this scale are difficult to comprehend. They immediately become invigorating and frightening. If your company is staring at a $ 4.5 trillion stake and wondering, “Where do we start?” Be sure you’re not alone.
As the Harvard Business Review writes: “Business leaders are vying to adapt to a world we imagined possible shortly before. The myth of a boundless world has disintegrated. The traditional pillars of open markets – the United States and the United Kingdom – are shaking, and China is positioning itself as the most stable defender of globalization. “
We will decipher this quote a little below. For now, the big idea is simple: the shadow of global e-commerce is too big to ignore.
2. International growth is shaping the map
Globally, regional e-commerce markets are ranked as follows:
- Asia: $ 831.7 billion
- North America: $ 552.6 billion
- Europe: $ 346.5 billion
- Australia: $ 18.6 billion
- Africa and the Middle East: $ 18.6 billion
- South America: $ 17.7 billion
Looking at the same figures by country, it reveals the 10 largest e-commerce markets in the world at the moment are:
Of course, what really matters is not where we are, but where we are going – the future of e-commerce. Using forecasts for 2023, a slight rearrangement emerges, as does a distinctive leader: China.
3. It is time…
If there is one thing, all of the above data, reports and trends reveal that global e-commerce is not a choice; this is a necessity. The future of your company’s growth depends on this. Maybe even his survival.