Digital retailing market to grow by $1.87t by 2028

This growth is driven by the surge in social media and the shift from traditional to digital advertising.

The global digital retailing market is set to expand by $1.87t from 2024 to 2028, with a robust annual growth rate of 36.5%, according to Technavio.

This growth is largely driven by the rapid expansion of social media and a noticeable shift from traditional to digital retail advertising channels. The transition from traditional advertising to digital platforms has been fueled by several factors, including increased brand visibility, modernisation, improved customer experiences, and enhanced product awareness. Digital media's accessibility and the integration of traditional and digital channels, such as geofencing, are broadening reach and engagement opportunities, further propel the market growth.

Key trends shaping the industry include e-commerce platforms, mobile shopping, and omnichannel experiences. Personalisation remains vital, as consumers demand seamless interactions across all channels. Utilising tools such as social media, search engines, emails, and online stores is essential for audience engagement and ROI tracking. Effective use of data can enhance website performance through improved SEO, keywords, product descriptions, and mobile-friendly designs.

Moreover, local visibility and social media presence are crucial for brand identity, whilst influencers and virtual reality present new avenues for product display and customer interaction. Content marketing, search engine optimisation, and digital marketing are critical also for increasing visibility, driving traffic, and boosting sales.

However, the rapid growth of the digital retail marketing sector presents a challenge in workforce acquisition. 

The report noted that companies must not only recruit skilled professionals but also invest in employee development. It urged recruiters to evaluating technical skills, soft skills, customer management capabilities, and data handling expertise. “The scarcity of a skilled workforce could hinder the expansion of the global digital retail marketing market in the forecast period.”