New Analysis from Global Industry Analysts Reveals Steady Growth for eCommerce and Other Non-Store Retailers, with the Market to Reach $5.1 Trillion Worldwide by 2026

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Feb 23, 2022, 10:35 ET

SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "eCommerce and Other Non-Store Retailers - Global Market Trajectory & Analytics." The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

eCommerce and Other Non-Store Retailers - FEB 2022 Report

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Edition: 9; Released: February 2022
Executive Pool: 1336
Companies: 133 - Players covered include Alibaba Group Holding Ltd.; Amazon. com, Inc.; Amway Corporation; eBay Inc.; QVC, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Type (eCommerce, Direct Selling Establishments, Vending Machine Operators)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global eCommerce and Other Non-Store Retailers Market to Reach US$5.1 Trillion by the Year 2026
Non-store retailing is a type of retail channel involving sales of products without a physical retail store area. Non-store retailers market broadly includes e-Commerce space, vending machine operators and direct selling enterprises. The rise in non-store sales will soon outrun in-store sales as world e commerce revenues climb up sharply. A major trigger for this expansion is the world market's recovery from the pandemic and re-establishment of operations. Enterprises that were struggling due to containment strategies, remote working, social distancing and limited commercial activities along with operational challenges are refurbishing themselves. Retail enterprises are ceaselessly striving towards offering a seamless shopping experience to shoppers and the integration of the brick and mortar stores with virtual shopping models. Vending machines are embracing gamification technology with their tools to fortify consumer interaction. The interactive engagements between product and customer allow a smoother consumer experience and return rates. The extensive adoption of sophisticated analytics and artificial intelligence is another strong trend. The non-store retail format generates a huge volume of fresh data for retailers. The retailer must therefore employ technology that assimilates all this data into a single platform that offers a single format of truth. Another major trend is accessing customers at their preferred locations. Digital avenues like social media and SMS can create an instantaneous social relationship.

Amid the COVID-19 crisis, the global market for eCommerce and Other Non-Store Retailers estimated at US$3.2 Trillion in the year 2022, is projected to reach a revised size of US$5.1 Trillion by 2026, growing at a CAGR of 13.5% over the analysis period. eCommerce, one of the segments analyzed in the report, is projected to grow at a 14.6% CAGR to reach US$5.1 Trillion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Direct Selling Establishments segment is readjusted to a revised 7.3% CAGR for the next 7-year period. This segment currently accounts for a 13.1% share of the global eCommerce and Other Non-Store Retailers market. Rise in eCommerce amid the pandemic led retailers to focus more on enhancing online purchasing experience for customers. The global ecommerce sector has been witnessing robust growth over the past several years, led by continuous advancements in Internet speed and bandwidth, and proliferation of smartphones and the use of the same for online shopping and banking.

The U.S. Market is Estimated at $1.1 Trillion in 2022, While China is Forecast to Reach $740.4 Billion by 2026
The eCommerce and Other Non-Store Retailers market in the U.S. is estimated at US$1.1 Trillion in the year 2022. The country currently accounts for a 34.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$740.4 Billion in the year 2026 trailing a CAGR of 16.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$197.1 Billion by the end of the analysis period.

Vending Machine Operators Segment to Reach $113.8 Billion by 2026
Vending Machines (VMs), designed to dispense consumer products and other goods and services, are commonly used in the automatic retailing market as well as in public buildings, hospitals, gas stations and airports. These machines have witnessed notable evolution over the years and now feature interactive displays, telemetry systems, cashless payment options, face recognition systems, and ID card identification providing convenience to consumer and service providers, ushering an era of intelligent vending solutions. Vending machines also allow companies to strengthen their pricing power and improve operating margins. In the global Vending Machine Operators segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$66.4 Billion will reach a projected size of US$92.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.6 Billion by the year 2026, while Latin America will expand at a 6.9% CAGR through the analysis period.

The pandemic has provided support for innovations in the vending machines space including integration of contactless payment apps for enabling contactless purchases, incorporation of UV-ray lamps for sanitization purposes, advanced coffee keys for providing alerts to managers in the event of breakdowns, vending machines with screens to relay video content, and machines that can be transformed into real automatic canteens or wine shops, and smartphone-controlled small coffee machines, as well as indestructible vending machines for installation at public spaces. Companies are developing apps, which can enable customers to select and make payments for the products from the machine without coming into contact with the machine. Few of the apps have been designed by machine makers like Bianchi Industry, Fas. Evoca Group. Also, the conventional coffee key is also evolving. Coges for instance introduced a key that can be connected to the Internet, enabling management of credit, sending feedback on products on machine. QSave Elkey is also working on a system, which involves generation of a QR code that can be read by smartphones in order to facilitate payment authorization. For consumers wanting to make conventional coin-based payments, CPI created a system designed to enable faster and secure payments. And for cashless payments, the company developed a solution that involves a touchscreen along with a customizable user interface. Venpay app facilitates vending machine to be connected to Internet, enabling users to make payments either by using a card or digital wallet. Coges is also looking to develop a credit card reader for vending machines that will enable users to get cashback even through the machine. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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