The research company forecasts that over the five years through 2024, revenue will grow at a compound annual growth rate of 11.2%.
Other key findings:
the increasing adoption of online shopping into consumers’ habits will further aid the industry;
clothing and footwear is the largest product segment in the industry, and is expected to account for 39% of industry revenue in 2019;
consumer electronics account for around 33% of market share;
Amazon is the only player in the industry with a share of more than 5% (around 5.6% of the local market); the second largest operator in the industry is eBay, with a market share of 3.6%.
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