CloudCommerce Comments on $1.915 Trillion Industry Forecast
New report shows retail ecommerce industry growing by 23.7% over the course of 2016
SANTA BARBARA, CA -- (August 30, 2016) - CloudCommerce, Inc. (CLWD), a global provider of advanced e-commerce services to leading brands, today commented on a new industry forecast showing significant industry growth.
According to a new report by emarketer, retail e-commerce sales are forecasted to grow by 23.7% over the course of 2016 to reach $1.915 trillion, accounting for 8.7% of total retail spending worldwide. The report includes sales from e-commerce retailers in addition to transactions in auction marketplace platforms like eBay, but excluded sales from travel, event ticketing, and restaurants.
The world’s largest retail e-commerce market is Asia-Pacific, with estimated sales reaching $1 trillion in 2016. This growth is due to wider Internet accessibility, increased competition of ecommerce merchants, improved infrastructure, and a growing middle class of consumers. The majority of Asia’s growth is anticipated to come from China, with sales potentially reaching as high as $899.09 billion this year, accounting for 47.0% of all sales worldwide. In North America, retail e-commerce sales are expected to increase by 15.6% this year to reach $423.34 billion, ranking the region as the world’s second largest ecommerce market.
CloudCommerce CEO Andrew Van Noy commented, “This new industry data gives us great confidence in what we’re doing. As e-commerce sales increase worldwide, merchants are likely to increase their budgets for infrastructure, operations, and digital enhancement initiatives.
This growing market opportunity should benefit e-commerce services providers, such as CloudCommerce”
Mr. Van Noy concluded, “In addition to organic growth, we also plan to grow by acquiring other profitable ecommerce service providers. So far this year we have been very productive in our efforts to identify and develop relationships with a number of acquisition target companies.”
About CloudCommerce
CloudCommerce, Inc. (CLWD) provides advanced e-commerce serv
