With COVID-19 lockdowns still in place in many parts of the world, consumers are spending more and more time online shopping. In a report done by Statista, it was found that retail e-commerce sales worldwide amounted to 4.28 trillion US dollars in the year 2020. As seen above, Latin America made the largest jump in overall retail e-commerce sales growth worldwide overcoming North America by just 4.9%.
Insider Intelligence forecasts that worldwide e-commerce will grow by 14.3% in 2021. This will be a slight drop from 2020s 16.5% growth. Potential reasons for the shift could be attributed to consumers being more eager to shop in brick-and-mortar retailers once the COVID-19 restrictions are lifted in their regions.
Alana Reinhardt has been the Sales and Marketing Coordinator at Rockfarm Supply Chain Solutions since 2020. She brings her education from Eastern Illinois University and her passion for communication to her work as a content creator and inbound lead generator. When she’s not behind the keyboard, she can be found exploring the St. Louis area with her dog, Ernie, at her side.