Retail e-commerce software market is anticipated to grow at a CAGR of 9.2% during the forecast period. Expansion of the e-commerce industry, technological advances in e-commerce logistics, and the rising number of new players in the e-commerce industry are some major factors contributing to the growth of the market. The e-commerce industry has been experiencing potential growth across the globe owing to rapid urbanization and internet penetration, which is positively influencing the global retail e-commerce software market. According to the United Nations Conference on Trade and Development (UNCTAD), around 1.45 billion people, or one-quarter of the global population aged 15 and older, made purchases online in 2018, representing an increase of 9.0% as compared to 2017. China had the largest number of online shoppers at 610 million. While the bulk of online shoppers mainly bought from domestic suppliers, around 330 million online shoppers made cross-border purchases in 2018. Thus, rising sales of online products will significantly boost the demand for retail e-commerce software during the forecast period. This report will further analyze all the primary as well as secondary factors that are directly or indirectly impacting the growth of the market.

The e-commerce industry in China has been struggling with unprecedented product shortages and other logistical bottlenecks. However, various companies have benefitted from the shifts in consumer behavior toward online shopping precipitated by the pandemic. The demand for raw food products such as vegetables, meat, and seafood has grown by up to around 300.0% since the COVID-19 outbreak was reported in China. Some companies including JD Daojia have seen their sales and profits grow by over 500.0%.

Moreover, immunity boosters, hygiene, and other health-related products have seen tremendous growth since the outbreak. The online demand for products such as masks has quadrupled in China and the US in March 2020, as compared to January 2020 and December 2019. Masks sales grew by 600.0%, hand sanitizer sales by 450.0%, Clorox/Lysol wipes by 200.0%, and gloves sales by 150.0%. In addition, the sales of toilet paper, hand soaps, and paper towels have also increased by more than 30.0%. Online retail sales across the globe have increased drastically in March 2020 with a 74.0% growth in average transaction volumes compared to the same period last year, according to ACI Worldwide.

Segmental Outlook 

The global retail e-commerce software market is segmented based on the deployment type and end-users. Based on the deployment type, the market is segmented into cloud and on-premises. Based on the end-user, the market is sub-segmented as apparel & fashion, food & beverage, automotive, consumer electronics, healthcare, BFSI & technology, and others. The healthcare segment had significantly grown after the outbreak of COVID-19. The demand for nutritional products has been increased to meet the rising need for increased immunity. Further, the strict government measures such as lockdown and social distancing norms across the globe have compelled the physical stores to remain closed. Due to this, consumers are purchasing pharmaceutical products online. Moreover, the sales of personal protective equipment such as mask and gloves as well as hygiene products, such as hand wash and sanitizers have seen tremendous growth since it kills the virus and prevents contamination. The above-mentioned segments can also be customized as per the requirements.

Regional Outlooks

The global retail e-commerce software market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can also be analyzed for a particular region or country level as per the requirement. 

Global Retail E-Commerce Software Market Growth, by Region 2022-2028

The North American Region Holds a Significant Share in the Global Retail E-Commerce Software Market

The Asia-Pacific region holds the major share in the global retail e-commerce software market. India and China are the major contributing nations to this regional market. Various cross-border e-commerce platforms, such as Amazon, Inc., Alibaba, and JD.com, Inc., and remarkable internet penetration are boosting the e-commerce sector in this region and thereby driving the adoption of retail e-commerce software to ensure the timely and proper delivery of products and services.

Market Players Outlook

The major companies serving the global retail e-commerce software market include Oracle Corp., TCS Ltd., SAP SE, HCL Technologies Ltd., EKM Systems Ltd., Lumen Technologies, Inc., eBay Enterprise, Inc., and Intershop Communications AG, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance-

• IBM Corp. partnered with Table Space Technologies in July 2021 to enhance the experience through its technology platform, especially when it comes to data security and employee efficiency, which is very important for business customers.

• Oracle Corp. partnered with Deutsche Bank in June 2021, to modernize the banking database technology and accelerate its digital transformation. Through this partnership Deutsche Bank will upgrade its existing database systems and transfer the bulk of its Oracle Database assets to Oracle Exadata Cloud Customer, an option to deploy in Oracle Exadata Cloud Service, to support applications that will not migrate to the public cloud or it may happen in the future. This will provide a dedicated platform to support and measure the most important existing business plans, programs, and services, including trading, payment processing, risk, financial planning, and regulatory reporting.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global retail e-commerce software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.