eCommerce is set to make up nearly 25 per cent of all global retail sales in 2025, according to research from Stockapps.com.
Mobile services are expected to shape the future of the shopping experience with smartphones facilitating nearly 70 per cent of all worldwide retail visits this year. Mobile is already popular in Asia, generating 65 per cent of all internet transaction volumes in South Korea. India, China and Spain are considered to be some of the fastest-growing markets.
“The growing adoption and penetration of the internet have spurred a year-to-year increase in online buyers,” Edith Reads, a FinTech expert from Stockapps.com, said. “For instance, 2020 saw over two billion consumers make their purchases online, pushing worldwide e-retail sales above $4.2 trillion.”
Analysts have proposed that the disruptions entailed by the pandemic have been instrumental in the way global eCommerce and retail industries have changed.
Market research data shows that e-commerce traffic has risen with nearly 22 billion monthly visits. A majority shops for regular items including groceries, clothes and tech products.
This story first appeared on our sister publication Internet Retailing