Online Retail Market in the US 2016-2020
- Published: Feb 2016
- Pages: 71
- SKU: IRTNTR8339
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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.
Market outlook of the online retail market in the US
Technavio’s market research analyst predicts the online retail market in the US to grow at a CAGR of approximately 16% between 2016 and 2020. The online retail market in the US is likely to see significant YoY growth during the forecast period. Increased penetration of internet and use of smartphones are the primary growth drivers of this market.
The online retail market in the US accounted for around 7% of the total retail market in the US in terms of revenue in 2015. Omni-channel retailing is also 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.
Product segmentation and analysis of the online retail market in the US
- Food and grocery
- Apparel, footwear, and accessories
- Music, software, books, and stationary
- Home care products
- Consumer electronics and electricals
- Home furniture and furnishings
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.
Segmentation by devices used for shopping and analysis of the online retail market in the US
Smartphones accounted for more than 30% of the market share in 2015. Smartphones are considered as a convenient option for shopping by many people. This segment is expected to witness the fastest growth until 2020.
Competitive landscape and key vendors
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.
The key vendors in the market are -
Other prominent vendors in the market include Academy Sports + Outdoors, Amway Global, ATG Stores.com, Backcountry.com, Best Buy, Blue Nile, Cabela's, CustomInk, Daniel Smith, Eastern Mountain Sports, Factory Green, Groupon, Ideel, and J. C. Penney.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the online retail market in the US?
- What are the key market trends impacting the growth of the online retail market in the US?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the online retail market in the US?
- What are the key outcomes of the five forces analysis of the online retail market in the US?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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