November 5, 2018
While the consumer electronics market in Europe is considered to be relatively mature, revenue from online shopping in the category is still projected to increase at a CAGR of 7% from 2017 to 2022. In 2018, Germany led the European consumer electronics eCommerce market, ranking 4th worldwide at €14.97 billion following Japan, the US, and China, respectively.
As online shopping continues to provide a more user-friendly, insightful, and comprehensive purchase experience, consumers in the market for new electronics will increasingly turn to the digital marketplace. A survey conducted by Statista found that 71% of Germans would consider making all their electronics purchases online.
With more and more business moving from the shop on the corner to a corner of the Cloud, consumer electronics companies should closely consider the emerging trends in online shopping that are shaping eCommerce when developing strategic plans to succeed in the digital space.
In 2017, shopping was the fastest-growing activity on smartphones globally, up 54% year-over-year (compared to average activity growth rate of 6%.) Mobile sites optimised for accelerated checkouts that facilitate a quick and easy mobile purchase experience will play a key part in winning online sales and reducing cart abandonment.
Multi-channel fulfilment is increasingly a prerequisite to compete in the digital space. With 49% of product searches now starting on Amazon, utilising a large portfolio of online retail channels in addition to your website is an effective strategy to reach a larger audience.
Statistics show that e-commerce is expanding more quickly in emerging markets. For example, China’s ecommerce market is already almost double that of the US, and Western continents are expected to account for only 16.9% of global ecommerce sales by 2020. With Asia taking the vast majority of global e-commerce share in the coming years, scalability across multiple countries, regions, and markets has become paramount.
With the rapid pace at which ecommerce is evolving, it’s more crucial than ever to partner with the right fulfillment solutions provider. Read how customers have grown their business by leveraging our global fulfillment locations. For more information on how Ingram Micro fulfillment services can make a difference for your business, please complete the contact form below.
Resource: Statista Retail: Consumer Electronics Industry Report – Germany
2018 Mary Meeker Report Ecommerce
ShopifyPlus: Online Shopping Trends in 2018 and Beyond: Ecommerce’s 11 New Realities