E-commerce made up 19% of all retail sales worldwide last year, up from 16% in 2019, according to a U.N. study. The study looked at data from Australia, the U.K., Canada, China, Singapore, South Korea, and the U.S. These seven countries account for two-thirds of global online trade.
- E-commerce accounted for 25.9% of South Korea's retail sales, the most of any country. The U.S. had a 14% share while China's was 24.9%.
- Online sales were up 59% in Australia, 32.4% in the U.S., and 14.6% in China.
- Digital sales in 2019 were up 4% to $26.7T, accounting for 30% of global output that year.
- Gross merchandise value (GMV) for the top 13 e-commerce companies rose by 20.5% to $2.9T last year. GMV is an important metric for e-commerce companies.
- Alibaba topped the list amongst GMV, followed by Amazon.
- Companies focused on ride-hailing and travel such as Expedia and Airbnb saw significant declines in GMV.