The global e-commerce industry continues to grow, and the US and Chinese markets will account for 60%

The ongoing epidemic blockade has been driving explosive growth in the e-commerce market. According to a data forecast provided by TradingPlatforms.com , the global e-commerce industry's revenue is expected to grow 12% year-on-year to US$2.7 trillion in 2021. As the world's largest e-commerce markets, China and the United States will create 60% of the value.

During the lockdown, the number of people shopping online continued to increase, leading to a surge in global e-commerce sales. According to Statista, the entire market generated $2.43 trillion in revenue in 2020 , a year-on-year increase of 25%. Many online retail platforms have witnessed unprecedented traffic growth, even exceeding the holiday peak season.

Nearly 60% of the world’s population has access to the internet , which now connects more than 4.5 billion people, and social media users have reached 3.8 billion. As the world’s largest e-commerce market , China’s e-commerce industry was valued at $862.6 billion before the pandemic . In 2020 , this figure reached $ 1.17 trillion , a year-on-year increase of 30% .

In terms of the number of online shoppers, nearly 3.2 billion people worldwide shopped online in 2019. Chinese shoppers accounted for nearly a third of this number, about 855 million. In 2020, about 926 million Chinese shopped in online stores , an increase of 70 million from before the epidemic. Statistics show that the number of e-commerce users in the country will reach nearly 988 million this year and will continue to grow to 1.2 billion by 2025.

In terms of payment method preferences , Chinese e-commerce users prefer e-wallets, and 61% of them will choose this online payment method by 2021. Therefore, data predicts that China's e-commerce revenue will reach 1.26 trillion US dollars in 2021 , and will continue to increase by nearly 400 billion US dollars in two years .  

In terms of payment methods , card payments still dominate the US market and are expected to account for 38% of all e-commerce payments . As the world 's second largest e-commerce market, the US market will grow much less than China, with the number of users increasing from 247 million in 2019 to 263 million in 2021. By 2021, the total revenue of the US market is expected to reach US$ 469 billion , a 30% increase in two years .

Nearly a third of the world’s e-commerce users are expected to come from China and the United States , and in a 2020 study , more than half of consumers said they would continue to use digital methods to buy important goods online even after the pandemic is over .

According to DataReportal's Digital 2021 report , among many e-commerce products and services , food , personal care , fashion , beauty and toy products are very popular, and people are also more willing to spend more money on DIY , personal hobbies, digital music , video games and furniture appliances .

China and US Market

E-commerce