On-line share of retail gross sales jumps to 19% amid lockdowns

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© Reuters. FILE PHOTO: A woman uses a computer keyboard in this photo illustration captured in Sydney

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ZURICH (Reuters) – Online sales accounted for almost a fifth of total retail sales last year as lockdowns to combat the spread of the coronavirus pandemic sparked a boom in e-commerce, a United Nations study published on Monday showed.

According to estimates by the United Nations Conference on Trade and Development (UNCTAD), based on national statistical offices in major economies, online sales represented 19% of total retail sales in 2020, up from 16% the previous year.

South Korea recorded the highest share with 25.9% after 20.8% in the previous year. China had a share of 24.9%, Great Britain 23.3% and the United States 14.0%.

Global e-commerce sales rose 4% to $ 26.7 trillion in 2019, according to the latest available estimates, according to UNCTAD. This included business-to-business (B2B) and business-to-consumer (B2C) sales and represented 30% of global economic output that year.

The pandemic resulted in mixed fortunes for leading B2C e-commerce companies, according to the 2020 report.

Data from the 13 largest e-commerce companies, 11 of which are from China and the US, showed a remarkable reversal in the wealth of platform companies offering services such as ride hail and travel, which saw gross volume (GMV) decline. .

“For example, Expedia (NASDAQ 🙂 dropped from 5th place in 2019 to 11th place in 2020, Booking Holdings (NASDAQ 🙂 dropped from 6th to 12th place, and Airbnb, which went public in 2020, from 11th place 13th place, “it said.

China Alibaba (NYSE 🙂 stayed on GMV’s rankings, followed by Amazon (NASDAQ 🙂 in the US.

Despite the decline in service companies, the GMVs of the top 13 B2C ecommerce companies rose 20.5% to $ 2.9 trillion in 2020, beating the 17.9% increase in 2019 .

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