Global e-commerce market to 2027: influence of social media platforms on society is the key propelling factor

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Electronic Commerce – Global Market Outlook (2018-2027)

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MARYLAND, GAITHERSBURG, USA, October 29, 2021 /EINPresswire.com/ – According to Stratistics MRC, the global e-commerce market is worth $ 3.69 trillion in 2018 and is expected to reach $ 18.89 trillion by 2027 , with a CAGR of 19.9% ​​during the forecast period. Some of the key factors propelling the market growth include women preferring online shopping, increased influence of social media platforms on society, customer interaction and marketing forces and multimedia convergence. However, the risk of e-commerce related frauds and imprecise return policies are the restraining factors in the growth of the market. On the basis of geography, APAC will be the major growing region in the e-commerce market during the forecast period due to increasing internet penetration and high purchasing power of the population of the middle class. Local vendors dominate the region’s market and limit the influence of foreign players, thus maintaining revenue growth. Some of the major players in the ecommerce market include Apple, eBay, Groupon, 360buy.com, Microsoft, Alibaba, Amazon.com, Google, PayPal, Sony Store, iTunes, Amway, Wal-Mart, Snapdeal, Symantec, Barnes & Noble , Flipkart, Jabong, Lenskart and Myntra.

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