SANTA BARBARA, CA--(Marketwired - August 30, 2016) - CloudCommerce, Inc. (OTCQB: 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."
CloudCommerce, Inc. (OTCQB: CLWD) provides advanced e-commerce services to leading brands. Our customers depend on us to help them compete effectively in the $1.6 trillion worldwide e-commerce market. Our comprehensive services include: (1) development of highly customized and sophisticated online stores, (2) real-time integration to other business systems, (3) digital marketing and data analytics, (4) complete and secure site management, and (5) integration to physical stores. 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.