20/12/2022
Contrary to the beliefs and the fact that the economy took a hit during the pandemic, the E-Commerce industry recorded huge growth as digital was the only way to go for most sellers and buyers.
All the E-Commerce projections discussed above, show distinct growth in almost every sector in the coming years. Some stats that summarize the impact are as follows:
• Brazil, Spain, Japan recorded the largest increase in eCommerce businesses as a reaction to the pandemic.
• There was an increase of about 19% in worldwide E-Commerce revenue between pre-and-post-COVID time frames in the year 2020.
• Food and Personal Care products recorded the maximum growth (+26%) as compared to other industries like Toys, Hobby & DIY (+21%), Electronics & Media (+19%), Furniture & Appliances (+17%), and Fashion (+14%).
• The share of E-Commerce revenue of Small & Medium B2B (Business-to-Business) Companies across the globe also grew distinctively. For Example, US scaled from 17% to 19% in revenue share of small business and recorded a 31% increase in the E-Commerce share overall.
• When containments and lockdowns were at peak, the online drug industry registered a growth of 16% in revenue share.
• Before COVID, only seven percent of grocery retail sales were done on eCommerce channels. However, during the peak of the pandemic, the E-Commerce share of grocery retail grew to ten percent.