Going by the observation and data, we can rightly call 2020 the year of e-commerce. The COVID-19 pandemic has accelerated the expansion and growth of the industry with new products, models, and entrants. High demand for easy and safe access to a variety of products has enabled online sellers to continue operations even during restrictions.
This soaring demand has also pushed traditional businesses to switch to online models, overcrowding the market than ever before. Despite different scales of challenges, this dynamism and change are visible across the countries and markets. Who would have thought elderly people buying their medicine and groceries online a while ago? And this is very much true across the developing and developed world.
According to Statista, due to the shifting consumer behavior and expanding market, this year’s total e-commerce sales will exceed the $4 trillion mark.
This article shares some trends and statistics of the global e-commerce industry.