Global e-commerce to continue double-digit growth: study

Following a major shift to online retailing in 2020, e-commerce retail sales will continue to grow through 2023 with an increase in the share of total retail sales globally, according to a study by the company. Insider Intelligence market research. The company further predicts that global online retail sales will reach $ 6.19 trillion by 2023, contributing 22.3% of total retail sales.

In addition, the US research firm said e-commerce growth is expected to remain strong through 2021 as the pandemic persists in many parts of the world and more and more consumers have grown accustomed to shopping online.

China has by far the largest retail e-commerce market, accounting for 52.1% of total global sales, according to the report. The United States has the second largest market, but has a much smaller share than China, at 19.0%. The other global e-commerce markets each account for less than 5 percent of sales.

In its forecast for future trends, the study noted that global e-commerce sales will continue on their upward trajectory, reaching $ 7.385 billion by 2025 and accounting for 24.5% of all retail sales. By 2022, e-commerce retail sales in China are expected to exceed 50% of the country’s total retail sales and climb 56.8% by 2025.

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After a major shift to online retailing in 2020, e-commerce retail sales will continue to grow through 2023 with an increase in the share of total retail sales globally, according to the research firm of Insider Intelligence market. The company further predicts that global e-commerce retail sales will reach $ 6,169 billion by 2023, contributing 22.3% of total retail sales.


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