So, just how big is the e-commerce market?
The short answer is: huge!
According to Insider Intelligence, the e-commerce market cap worldwide came in just shy of $5 trillion in 2021, well, $4.9 trillion, to be exact.
But it doesn’t stop there. By 2025, it is estimated that the e-commerce market will top $7 billion. That figure is almost double from 2021 data.
Here are some other interesting facts about the e-commerce market to consider:
The global e-commerce market is poised to explode. For instance, e-commerce sales skyrocketed in Latin America to $85 billion in 2021, up about 25% from $68 billion in 2020.
India has seen a massive spike in its e-commerce sales, racking up $46.2 billion in 2020. However, the Indian market cap is expected to grow to $111.4 billion by 2025.
ShipBob CEO Casey Armstrong said, “While a lot of focus in e-commerce centers around the United States and Canada, there is a lot to learn from other large international players who are seeing an even more accelerated growth rate in e-commerce.”
Considering how important the e-commerce market has become over the last decade, finding the best way to get a piece of the action is crucial. So, let’s discuss 14 e-commerce fashion trends. These trends are specific to fashion brands.