With the rising dominance of ecommerce stores, the ecommerce share of retail sales has been on the increase over the past few years.
In 2015, the ecommerce share of retail sales worldwide stood at 7.4 percent. That is to say that of every $100 spent by consumers, more than $7 was paid for online.
Today, this figure has risen to 13.7 percent, representing $3.43 trillion of the $25.038 trillion value of the retail market in 2019. This is a whopping 85.1 percent increase in a matter of four years. And this growth is set to accelerate and reach 17.5 percent by 2021, marking a 136 percent increase in just six years.
The increase in the percentage of online sales vs brick-and-mortar sales should come as no surprise, given the growing accessibility and affordability of mobile devices, as well as the improvement of internet access worldwide.
In 2019, ecommerce share is growing faster in Mexico than any other country in the world. The North American country is expected to see a 35 percent increase in retail ecommerce sales from 2018.
But the growth in Mexico doesn’t appear to be reflective of the entire North American growth rate. The region is expected to record a relatively sluggishly growth rate of 14.5 percent, much lower than the worldwide average of 20.7 percent.
Looking at it from a global perspective, the fastest growing ecommerce vs retail divide in 2019 will be witnessed in the Asia-Pacific region, with a 25 percent growth expected from 2018 to $2.271 trillion in 2019. This figure represents nearly 65 percent of the total ecommerce expenditure worldwide.
Of the APAC countries, India and the Philippines will see the highest growth rates at over 30 percent, followed by China, Malaysia, Indonesia, and South Korea.
Growth rates in Latin America and Middle East/Africa come in slightly behind at 21.3 percent each, followed by Central/Eastern Europe at 19.4 percent.
The slowest growth rate of ecommerce share in 2019 is in Western Europe, which only managed a 10.2 percent increase from 2018 – less than half of the worldwide average.
All accounts have access to the forever free Starter PlanSign Up Free