BRICS e-commerce retail market is anticipated to grow at a modest CAGR of around 13.5% during the forecast period (2021-2027). The e-commerce retail market in Brazil, Russia, India, China, and South Korea are gaining popularity in the last few decades. The rising internet penetration and smartphone users are the prominent factors driving the growth of the market in BRICS countries. According to the experts of the Global Rus Trade report in 2017, the volume of e-commerce of BRICS countries is expected to increase 3 times within five years. E-commerce becomes a driver of economic growth in the BRICS countries, especially during the crisis due to the coronavirus pandemic.
Browse the full report description of "BRICS e-commerce Retail Market Size, Share & Trends Analysis Report By End-User (B2C, B2B, C2C) By Products (Electronics, Fashion, Automobile, Healthcare, and Others) By Device Used (Smartphone, Tablets, and Personal Computer) Forecast, 2021-2027" at https://www.omrglobal.com/industry-reports/brics-e-commerce-retail-market
Internet penetration is the key factor in increasing market value, and it is further projected to grow. In line with this, in 2017, Internet penetration in Brazil was 68% Internet users of the total population in Brazil. The average share of the Brazilian population using different media platforms is 58% of Internet users. The share of e-shoppers was 38% (using smartphones and tablets). In Brazil, the share of e-commerce in GDP was only 0.92%. In the same year, the volume of the e-commerce market in Russia increased to 1.04 trillion rubles ($0.014 trillion), and internet penetration was 73% of Internet users of the total population in Russia. On the other hand, In 2018, retail e-commerce sales in India reached US$ 32.7 billion, and it is expected that in 2020, the Indian e-commerce market will grow to US$ 71.94 billion. This figure is expected to further grow more, which in turn, will drive the market growth.
Besides, some of the challenges faced in BRICS e-commerce development comprises logistics infrastructure, regulations, cross-border custom issues, and language barriers. For instance, In Russia, the language barrier in cross-border e-commerce stands out.
Market Coverage
o By End-User
o By Products
o By Device Used
o BRICS
? Brazil
? Russia
? India
? China
? South-Korea
Key questions addressed by the report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
BRICS e-comerce Retail Market Report Segment
By End-User
By Products
By Device Used