After we final forecast our worldwide figures for retail ecommerce, the world was amid the primary wave of coronavirus disruption, and we anticipated a considerable deceleration for ecommerce and dire outcomes for total retail. Each metrics ended up higher than we first anticipated.
How did 2020 prove?
Regardless of a difficult yr for retail in 2020, we estimate that worldwide retail ecommerce gross sales grew 27.6% for the yr, for a complete of $4.280 trillion. This represents a considerable uptick from our mid-pandemic evaluation of 16.5% progress. Nonetheless, complete worldwide retail gross sales declined by 3.0%, to $23.839 trillion.
Which nations and areas stood out in 2020?
All 32 nationwide markets we cowl ended up with at the least double-digit ecommerce progress in 2020. Latin America noticed abnormally standout progress (36.7%), regardless of struggling worse-than-average declines in total retail gross sales (3.4% drop). Argentina’s retail ecommerce grew by an astounding 79.0% final yr, a determine approached solely by Singapore’s 71.1%.
How is 2021 shaping up?
Worldwide, ecommerce progress will decelerate considerably this yr, regardless of customers’ newfound enthusiasm for digital procuring options. We forecast that worldwide ecommerce progress will downshift to 14.3% in 2021, partially due to a brick-and-mortar rebound and partially as a result of a lot progress was pulled ahead to 2020. We additionally forecast that total worldwide retail will rebound to five.1% progress in 2021.
Will China nonetheless lead the world in every part ecommerce this yr?
Sure. China will proceed to guide the world in digital consumers in 2021 with 792.5 million (33.3% of the worldwide complete); it is going to produce $2.779 trillion in ecommerce gross sales (56.8% of the worldwide complete); and it’ll develop into the primary nation in historical past to transact greater than half of its retail gross sales digitally (52.1% of retail can be ecommerce).
WHAT’S IN THIS REPORT? This report options our newest forecasts for worldwide retail ecommerce, mcommerce, and digital consumers—in addition to chosen regional developments for ecommerce and an replace on total retail gross sales.