Online share of retail sales jumps to 19% amid lockdowns
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Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.
Online sales accounted for 19 percent of overall retail sales in 2020, up from 16 percent a year earlier, according to estimates from the UN Conference on Trade and Development (UNCTAD) based on national statistical offices in major economies.
South Korea reported the highest share at 25.9 percent, up from 20.8 percent the year before. China had a 24.9 percent share, Britain 23.3 percent, and the United States 14.0 percent.
Global e-commerce sales rose 4 percent to US$26.7 trillion in 2019, according to the latest estimates available, UNCTAD said. This included business-to-business (B2B) and business-to-consumer (B2C) sales, and was equivalent to 30 percent of global economic output that year.
The pandemic led to mixed fortunes for leading B2C e-commerce companies in 2020, according to the report.
Questions & Answers
Q.Which country experienced the highest proportion of retail sales online during 2020?
Which country experienced the highest proportion of retail sales online during 2020?
South Korea recorded the highest share of online retail sales in 2020, reaching 25.9 percent. This figure represented an increase from 20.8 percent in the previous year, placing it ahead of other major economies surveyed.
Q.What was the total value of global e-commerce sales in the latest year for which figures are available?
What was the total value of global e-commerce sales in the latest year for which figures are available?
Global e-commerce sales were estimated at US$26.7 trillion in 2019, according to UNCTAD. This figure includes both business-to-business and business-to-consumer transactions, and accounted for 30 percent of global economic output that year.
Q.How much did online retail sales increase as a percentage of total turnover last year?
How much did online retail sales increase as a percentage of total turnover last year?
Online sales increased by three percentage points, rising from 16 percent of total retail turnover in 2019 to 19 percent in 2020. This growth was attributed to the impact of lockdowns implemented to combat the pandemic.
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