by Genevieve Scarano
As markets evolve and consumers favor e-commerce, total retail sales, including online purchases, are on the rise
According to a new eMarketer report, global online retail sales will peak at $1.915 trillion this year and rise to $4.058 trillion in 2020. Total international retail sales will reach $22.049 trillion in 2016, which is a 6 percent increase from 2015. Although annual growth rates will slow over the next four years, eMarketer projects that total international retail sales will exceed $27 trillion in 2020.
For this report, eMarketer evaluated sales across multiple retail channels for its total international retail sales estimate. Sales studied included e-commerce retailers, consumer-to-consumer (C2C) transactions on auction platforms including eBay, plus motor vehicle sales and gas stations sales.
North American retail e-commerce sales are also expected to reach $423.34 billion this year, making this region the world’s second largest online retail market. Over the next four years, e-commerce sales in North America will grow as a result of more digital buyers and mobile commerce… see the entire article.