Official statistics from China, the United States, the United Kingdom, Canada, South Korea, Australia and Singapore (accounting for about half of the world’s GDP) show that online retail sales in these countries have increased significantly from about $2 trillion before the epidemic (2019) to $25000 billion in 2020 and $2.9 trillion in 2021. Throughout these countries, although the damage caused by the epidemic and economic uncertainty have restrained the growth of overall retail sales, with people increasing online shopping, online retail sales have increased strongly, and its share in total retail sales has increased significantly, from 16% in 2019 to 19% in 2020. Although offline sales began to pick up later, the growth of online retail sales continued until 2021. The share of online sales in China is much higher than that in the United States (about one quarter of 2021).
According to the data of the United Nations Conference on Trade and development, the income of 13 top consumer centered e-commerce enterprises increased significantly during the epidemic. In 2019, the total sales of these companies were $2.4 trillion. After the outbreak in 2020, this figure rose to $2.9 trillion, and then increased by a further third in 2021, bringing total sales to $3.9 trillion (at current prices).
The increase of online shopping has further consolidated the market concentration of already strong enterprises in online retail and market business. The revenue of Alibaba, Amazon, jd.com and pinduoduo increased by 70% from 2019 to 2021, and their share in the total sales of these 13 platforms increased from about 75% from 2018 to 2019 to more than 80% from 2020 to 2021.
Post time: May-26-2022