CloudCommerce, Inc. (CLWD), focused on building and maintaining powerful e-commerce stores for leading brands, today commented on a recently released industry report that global e-commerce purchases are expected to exceed $3.5 trillion by 2019.
According to market research firm eMarketer, worldwide consumers will spend $1.672 trillion online this year, and by 2019, eMarketer projects online purchases will more than double to $3.551 trillion, which will comprise approximately 12.4% of overall retail sales of $28.550 trillion.
Intense pricing competition among Amazon.com, Wal-Mart, and other leading online merchants is also helping fuel e-commerce growth in the U.S. The United States is projected to maintain its position as the second-largest retail e-commerce market in 2018, reaching an estimated $500 billion that year.
The Asia-Pacific market is growing faster than any other region, at a rate of 35.2% per year. It is estimated that much of that growth will come by way of consumers in rural areas accessing e-commerce stores from mobile devices. China is anticipated to exceed $1 trillion in retail e-commerce sales by 2018, accounting for more than 40% of the total worldwide.
In the UK, more than 73% of the population will make a purchase online this year. E-commerce accounts for 13.0% of total retail sales in the UK, a metric higher than any other country. This high degree of e-commerce shopping ranks the UK as the third-largest e-commerce market worldwide.
“This report from eMarketer is very exciting news for our industry,” said CloudCommerce CEO Andrew Van Noy. “We see this as further evidence that our company is operating in an incredibly large market. We can gain a better understanding from this report as to which regions and specializations we should focus on in our growth-by-acquisitions strategy. As our industry continues its exceptionally rapid growth, we plan to acquire other rapidly growing e-commerce service providers. We intend to provide our customers with all the tools they need to compete in the worldwide e-commerce market.”
CloudCommerce, Inc. (CLWD) builds and maintains powerful e-commerce stores for leading brands. Our customers depend on us for highly customized and sophisticated e-commerce stores to effectively compete in the $1.6 trillion worldwide e-commerce market. We add value by providing (1) engaging frontend design, (2) robust backend integration to other business systems, (3) effective digital marketing and analytics, and (4) complete and secure site management. Our goal is to become the industry leader by rapidly increasing the number of customers who regularly depend on us and by acquiring other rapidly growing e-commerce service providers. To learn more about CloudCommerce, please visit www.cloudcommerce.com.
Matters discussed in this shareholder letter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.