China and US to Generate 60% of Global Ecommerce Sales in 2021

China and US to Generate 60% of Global Ecommerce Sales in 2021

The ongoing COVID-19 lockdowns continue fueling the explosive growth of the eCommerce market, as millions of consumers worldwide shifted from brick-and-mortar stores to webshops. 

According to data presented by TradingPlatforms.com, the revenue of the global eCommerce industry is expected to jump by 12% YoY and hit $2.7trn in 2021, a 12% increase year-over-year. China and the United States, as the world`s largest eCommerce markets, will generate 60% of that value.

Chinese Ecommerce Sales Soared by Almost $400B Amid Pandemic, US Revenues up by 30%

The growing number of people shopping online amid lockdowns caused a surge in global eCommerce sales. The Statista survey revealed that in 2020, the entire market generated $2.43trn in revenue, a 25% jump in a year. Many retail platforms witnessed unprecedented traffic increase last year, surpassing even holiday season peaks.

However, global eCommerce revenues are expected to jump by another $286bn in 2021. By 2025, the entire market is set to reach almost $3.5trn value.

As the world’s largest eCommerce market, China has witnessed an explosive growth of revenues in the last year. Before the pandemic, the Chinese eCommerce industry was worth $862.6bn. After the COVID-19 hit, this value jumped by 30% YoY to $1.17trn in 2020. Statistics show Chinese eCommerce revenues are set to reach $1.26trn in 2021, almost a $400bn increase in two years. By 2025, this figure is forecast to jump to $1.63trn.

The United States, the second-largest eCommerce market globally, has also witnessed an impressive growth of eCommerce sales amid the COVID-19 outbreak, with revenues rising from $360bn in 2019 to $469bn in 2021, a 30% increase in two years. Statistics show the US revenues are forecast to continue growing and hit over $563bn in the next four years.

One-Third of All Ecommerce Users are From China and the US

Analyzed by payment types, Chinese eCommerce users prefer e-wallets, with 61% of them choosing this online payment method in 2021. On the other hand, card payments still dominate the US market and are expected to account for 38% of all eCommerce payments this year.

In 2019, almost $3.2bn people were shopping online. Chinese shoppers made nearly one-third of that number, or 855 million. The United States hit 247 million eCommerce users that year.

Last year, 926 million Chinese people shopped in webshops, 70 million more than before the pandemic. Statistics show the number of eCommerce users in the country is set to reach almost 988 million this year and continue rising to 1.2 billion by 2025.

The US market witnessed much smaller growth than China, with the number of users rising from 247 million in 2019 to 263 million in 2021. By 2025, more than 291 million Americans are expected to shop online.

Statistics show that almost one-third of all eCommerce users in 2021 are from China and the United States.

More like this

Zoom cuts off 1,300 Employees

ISN Magazine

Zero-deforestation soy initiative underway with major UK supermarket backing

riad beladi

Zero Hunger | Zero Waste

riad beladi

Your Co-op boosts its sustainability efforts, implementing an AI-powered Prompted Markdown feature from Retail Insight

ISN Magazine

Younger men urged to get to grips with type 2 diabetes risk

ISN Magazine

Ynsect announces the construction of two production sites in the United States and Mexico

ISN Magazine

yamo, the European Leader in Fresh Organic Food for Young Children Announces €10.1M for Expansion

ISN Magazine

XYZ Tech’s New Barcode Reader Receives High Demand, Reveals Marketing Manager

ISN Magazine

X5 to expand footprint in Urals and Southern Russia

riad beladi

X5 Retail Group, Russia’s largest food retailer, has partnered with Sber and Visa to launch an innovative

ISN Magazine

X5 Group Q2 2021 Net Sales Increase 10.6%

riad beladi

Would Labour Renegotiate the UK-EU Trade Deal? An Analysis of Potential Changes

ISN Magazine