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.
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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.
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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.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
BRICS e-comerce Retail Market Report Segment
By End-User
- Business to Consumer (B2C)
- Business to Business (B2B)
- Customer to Customer (C2C)
By Products
- Electronics
- Fashion
- Healthcare
- Automobile
- Beauty and Personal Care
- Others
By Device Used
- Smartphone
- Tablets
- Personal Computer
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
