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Online Sales accounted for 19% of Overall Retail Sales in 2020 : UNCTAD Report

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Online-share-of-retail-sales-jumps-to-19%-amid-lockdownsAccording to Estimates released by UNCTAD (United Nations Conference on Trade and Development), the Online Sales accounted for 19% (from 16% in 2019)  of Overall Retail Sales in 2020. The increase in online sales has been due to the pandemic.

i.The Estimates were released in UNCTAD’s Report – ‘Estimates of Global e-commerce 2019 and preliminary assessment of covid-19 impact on online retail 2020’.

ii.Countries which reported the highest online share of retail trade in 2020 are South Korea – 25.9%,  China – 24.9%, Britain 23.3% and the United States – 14.0%.

iii.The report also states that Global e-commerce reached USD 26.7 Trillion in 2019 (including Business-to-Business (B2B) & Business-to-Consumer (B2C) sales).

iv.The USD 26.7 Trillion value reached by e-commerce is equal to 30% of the Global Economic Output.

E-commerce sales in 2020

i.The Top 3 e-commerce companies based on Gross Merchandise Value (GMV) in 2020 are

  • Alibaba (China) – USD 1,145 Billion
  • Amazon (USA) – USD 575 Billion
  • (China) – USD 379 Billion

ii.The value of top 13 B2C e-commerce firms increased by 20.5% to USD 2.9 Trillion in 2020, compared to 17.9% in 2019.

E-commerce sales – 2019

According to the Estimates of Global e-commerce 2019,

i.In B2B  e-commerce sales – the US came 1st followed by Japan & China.

ii.In B2C e-commerce sales – China finished top followed by the US & United Kingdom (UK).  India came 9th.

  • India’s B2C e-commerce sales stood at USD 61 Billion
  • Share of e-commerce sales in GDP – 2.1%
  • Online Shoppers – 70 Million (percentage of internet users – 20%).

Recent Related News:

i.According to a report released by EY-IVCA, India’s e-commerce market is expected to be worth USD 99 Billion by 2024.

About United Nations Conference on Trade and Development (UNCTAD)

Acting Secretary-General – Isabelle Durant
Headquarters – Geneva, Switzerland