Considering the growth of ecommerce, it’s no wonder that experts are excited about the upcoming 2020 global online shopping statistics. The trend towards sustainable shopping is on the rise, with 45% of consumers stating that they would make sustainable purchases by 2020. The recent coronavirus pandemic, which devastated the retail industry, has also created new opportunities for ecommerce. While big box retailers may seem like the most obvious choice, small businesses are much more nimble, adapting to new trends, guidelines and consumer behaviors.
In the year 2020, China is projected to account for over a third of all global ecommerce sales. In that year, China will be home to 792.5 million people who shop online. It’s also predicted to be the first country in the world where more than half of retail sales are made online. The US, Germany and China are the other major markets, each accounting for about one-third of the global market. But in terms of growth, China is the ecommerce leader, with the global market for ecommerce reaching $2.8 trillion by 2021.
Ecommerce has changed the retail landscape significantly in the last few years. It now accounts for a growing portion of global sales, and that number is expected to continue to grow. As internet access spreads around the world, more consumers have become comfortable purchasing big-ticket items online. The COVID-19 pandemic further accelerated this shift. Businesses that are interested in tracking ecommerce statistics can make adjustments to their sales and marketing strategies.