A study released UN on Monday says corona virus pandemic fueled an affluent in e-commerce resulting in a jump in the turnover of the online share of the retail sales. As per the report shown by UN lockdowns enhanced overall online retail sales to 19% in 2020, which was earlier 16%.
UN Conference on Trade and Development (UNCTAD) said as per the recently available estimate Global e-commerce sales, including B2B and B2C sales, rose 4% to $26.7 trillion in 2019. With 25.9% South Korea reported the highest share, up from 20.8% the year before. China, Britain and the United States share 24.9%, 23.3% and 14.0% respectively.
Based on national statistical offices in major economies UNCTAD said the top 13 e-commerce firms, rose by 20.5% to $2.9 trillion in 2020, outperforming the 17.9% gain in 2019. Among these top companies, 11 are from China and the rest are from the United States. Notable that the companies associated with services like travel saw sharp declines in gross merchandise volume (GMV).
As per the report, in 2020 the corona pandemic caused sundry affluence for leading B2C e-commerce companies. The release further said, ” Expedia’s ranking fell from 5th place in 2019 to 11th in 2020, Booking Holdings from 6th to 12th and Airbnb from 11th to 13th”.China’s Alibaba remained is on the top of the rankings by gross merchandise volume GMV, followed by Amazon in the United States.
In Indian online retail sales has also experienced a remarkable shift in Corona Pandemic. As per business growth data drew from brands, e-tailers, e-commerce enablers and analysts, Indian e-commerce, which was a $27-billion market in 2019, is achieved approx. 40% growth in 2020, compared to 23% growth in 2019.
A Flipkart spokesperson in one of his previous statements in 2020 said, “Consumers now increasingly prefer online shopping because of the safety and convenience attached to it. There has been a significant spike in demand for work-from-home essentials like electronic devices and furniture. Mobiles, power banks, home printers, desktops, laptops, study tables, chairs, laptop tables have seen an uptick in demand. Kitchen appliances and medical
equipment are also propelling demand as a large part of India continues to work remotely and stay indoors.”
India’s largest e-grocer, BigBasket’s average order value has increased from ₹1,300 in February to ₹1,500. Monitoring the growth in the year 2020 BigBasket upped their growth targets for FY21 by 40-50 per cent as said by Seshu Kumar Tirumala, National Head, Buying and Merchandising, BigBasket.