According 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
- JD.com (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