Do you know what country is a new ‘bright spot’ for global retailers based on A.T. Kearney’s annual ranking? Or how many Americans receive one or two Amazon packages per week? And what grocery retailer operates in all five of the world’s biggest markets? The surprising answers to these questions are great proves that retail isn't a humdrum business of just selling goods to customers. In this topic, we've gathered the top-5 astonishing facts about retail in the world, which probably will leave you open-mouthed. So, let's play cards up!
E-COMMERCE FACT 1
Why do women enjoy shopping more than men? Because they spend less! The recent research by KPMG reveals that men spend around 69% more on online-shopping than women do. One of the possible reasons is that men are more likely to buy electronics and luxury products, while women are interested in cosmetics, clothes and accessories. Anyway, both men and women mark accurate product content as an extremely important factor for purchase-decision. Keep that in mind no matter what you sell. To define what is accurate (rich) product content and why it is a must for brands and retailers to keep it updated across eCommerce sales points, read our recent article on Product Content Syndication.
Travellers contribute 25% of total retail sales in Dubai. UAE capital is the city, where tourists are spending more money than in any other city in the world. On average each visitor spends 166$ on shopping per day, which results in a fantastic 9$ billion in total per year. Get your wallet ready if you plan to visit Dubai 🙂
E-COMMERCE FACT 2
E-COMMERCE FACT 3
Ghana placed fourth place in 2019 Kearney Global Retail ranking — an incredible result for a small African country. The size of Ghana's retail industry is about US$24.4 billion, but the number of international retailers is growing rapidly. During the last 3 years, international brands such as Decathlon, Game, DHL e-shop, Shoprite, Massmart have joined the Ghana retail fairytale while other big players are considering expansion. Internal retailers keep up with global trends and actively use social media for selling products online. Namely, digitalization will be a key factor of further retail growth in Ghana, which is expected to reach US$33 billion by 2024, based on the Kearney Report.
E-COMMERCE FACT 4
Every second American aged from 18 to 35 receives one or two Amazon packages every week. And on average, 41% of US consumers place at least one order on Amazon per week. These statistics perfectly show us how strong Amazon dominance is. According to eMarketer, the Amazon market size is 47% of all eCommerce market, which is a 5% share of U.S. retail. Jeff Bezos still forces the American eCommerce sector with Amazon madness and there is no doubt that he will take a larger piece from US retail pie.
E-COMMERCE FACT 5
Do you still want to find out what grocery retailer operates in all five of the world’s biggest markets? So, the answer is (drum roll)... Oh, error. There is no such retailer in the world! In contrast to other industries, grocery retail is a battlefield of local players. The point is that every grocery retailer that has invested in foreign expansion usually tasted failure because of entry barriers. Therefore, grocery retail is a great example of an industry that can't travel across borders. However, this statement can become a good motivation for Walmart, Costco, Kroger, and other “big fishes”.
At Gepard we are continuously publishing eCommerce market analytics, useful tips and interesting facts. Stay tuned!