Here’s how coronacrisis boosted global e-commerce

E-commerce has become the default option for many customers worldwide amid the coronacrisis

e-commerce

Here’s how coronacrisis boosted global e-commerce. Source: pixabay.com

According to GlobalData, e-commerce has seen a boost in 2020, particularly in countries where online shopping is not the mainstream shopping method.

In fact, it is expected to grow at a faster rate than in previous years. For instance, in China, it is projected to increase to 12.4% in 2021, up from 10.4% in 2019.

That’s a significant 2% increase in e-commerce spending per GDP.

E-commerce spending in the US has also faced growth, rising from 8.4% in 2019 to 9.2% in 2020, and it is projected to reach 10% in 2021.

GlobalData’s forecast for e-commerce growth shows that COVID-19 was an accelerator for phenomena that was already happening. E-commerce was steadily becoming a bigger industry, while people were slowly getting more comfortable with buying their products online. However, with this being the preferred shopping method for the foreseeable, forecasts show an immense retention for the industry
Vlad Totia, Payments Analyst at GlobalData

We’ve reported that 56% of European respondents buy online three or more products per month during the pandemic. Over a quarter of Europeans will remain shopping more than they did before the COVID-19’s outbreak.

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