In a new webinar, Retail in Transition: Capitalising on
Future E-Commerce Opportunities, Euromonitor delves into how the e-commerce
market has transformed due to Covid-19, future tech investment areas and
countries with unmet e-commerce potential.
According to the webinar, 16% of goods were bought online
last year, double the ratio of 2015, with the growth expected to continue to
accelerate in the next five years. The US, China and Mexico are forecast to
achieve the highest absolute value growth between 2020 – 2025 at USD 386
billion, USD 361 billion and USD 77 billion respectively.
“One of the most pronounced impacts from the global pandemic
is the expanding influence of tech. Retailers and brands are prioritising tech
investments, which range from optimising supply chain operations to improving
user experience. Companies in Latin America, for example, have been making
bigger digital investments, and the region is forecast to reach the highest
growth of retail value of all regions by 2025,” comments Michelle Evans, senior
head of the digital consumer research, at Euromonitor International.
“However, the rapid digital transformation has brought
challenges towards traditional business models and physical stores into greater
focus, and it is vital to re-evaluate strategy for businesses to stay
competitive in the ever-growing digital sphere,” concludes Evans.
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