"Digital Transformation Era, Challenges in US and European Markets"

Jungjinkong, 'Global E-commerce HOT Report'... Analysis of Local E-commerce Markets in the USA, Germany, and Sweden

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (hereinafter referred to as SBC, Chairman Kim Hak-do) announced on the 20th that it has published the 'Global E-commerce HOT Report,' which contains the current status of the e-commerce markets in the United States, Germany, and Sweden.

The report covers ▲ characteristics of e-commerce platforms and support services/trends ▲ shopping season information such as Black Friday and Cyber Monday, which are opportunities for sales growth ▲ popular social media platforms by country and influencer marketing strategies.

According to the report, the United States is the second-largest e-commerce market. As of last year, the market size was $933 billion, accounting for 19% of the global e-commerce retail market. The online shopping population is 260 million, with an average e-commerce expenditure per person of $1,784, and these are expected to increase to 290 million and $1,925 respectively by 2025. In the U.S., there are various types of platforms including Amazon, used by 35% of the world’s population, as well as Walmart, eBay, and Apple. It is necessary to utilize market entry support services tailored to the characteristics of each platform.

Germany is the fifth-largest e-commerce market globally, with a market size of 85 billion euros. Digital electronic payments are widely used, and online shopping trends are shifting mainly toward mobile. The infrastructure for e-commerce is also highly developed. The report suggests that since German consumers value practicality and have frugal consumption tendencies, it is important to approach customers based on core values such as quality, familiarity, security, and trust.

The e-commerce market size in Sweden is about $16 billion, making it the largest market among Nordic countries. Unlike other countries dominated by large platforms, specialized e-commerce companies hold a dispersed market share, so research on the characteristics of each platform is necessary when entering the market.

Jo Woo-joo, head of SBC’s Online Export Division, said, "The global e-commerce market is expanding after COVID-19," and added, "We hope this report will help domestic small and medium-sized ventures successfully enter overseas markets."

This content was produced with the assistance of AI translation services.