Global e-commerce market to grow by $1 trillion by 2025

Since the outbreak of the COVID-19 pandemic, e-commerce has become the most important retail trend. Although the development of vaccines may overcome COVID-19, this trend will continue.

Euromonitor International , a well-known international strategic market information provider , conducted a survey in October, the results of which showed that the online shopping boom will continue permanently . Previously, 74% of global retailers and brands have made the same statement.

E-commerce has been the fastest growing sales channel over the past decade , and the COVID-19 crisis has accelerated this trend . Euromonitor International predicts that the global e-commerce market will expand by $1 trillion between 2020 and 2025 , and 50% of global retail sales growth will come from the e-commerce market.

More goods are sold through online platforms , growing by $ 140 trillion a year , which is roughly equivalent to the total value of all retail products five years ago . The world 's largest e-commerce market predicts that China and the United States will account for 55% of the global growth in e-commerce market growth .

In addition, from the perspective of percentage growth, Latin America is an emerging e-commerce market . Due to the epidemic , more and more consumers are buying necessities online, which has accelerated the development of e-commerce in the region .

The level of e-commerce development in Latin America has long lagged behind other regions, due to its large unbanked population , weak transportation system, consumer distrust of e-commerce platforms , and a large base of unbanked population .

The pandemic has prompted Latin American entrepreneurs to increase their investments in the digital sector, including developing websites, opening offline experience stores , and providing express delivery services . Many businesses have used Instagram, Facebook, and WhatsApp to increase their digital presence.   Apps and other social media platforms to facilitate transactions . For example, Walmart now allows consumers in Mexico to   Place orders and shop on the App .

These efforts have made Latin America one of the fastest-growing regions for e-commerce in the world, with online merchandise sales in Latin America increasing 60% in 2020 .

MercadoLibre, an e-commerce platform, is one of the biggest beneficiaries of Latin America's digital transformation . Euromonitor expects that Latin America 's e-commerce market will continue to grow , driven by Mexico . In addition, Mexico is narrowing the gap with Brazil, the largest e-commerce market in Latin America .

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