Market leaders in the world of e-commerce

Internet users can choose from various online platforms to browse, compare, and purchase the items or services they need. While some websites specifically target B2B (business-to-business) clients, individual consumers are also presented with a vast number of digital possibilities. As of 2019, online marketplaces account for the largest share of online purchases worldwide. Leading the global ranking of online retail websites in terms of traffic is Amazon: The Seattle-based e-commerce giant that offers e-retail, computing services, consumer electronics, and digital content registered over 5.2 billion unique visitors in June 2020. In terms of gross merchandise value (GMV), however, Amazon ranks third behind Chinese competitors Taobao and Tmall. Both platforms are operated by the Alibaba Group, the leading online commerce provider in Asia.

Mobile is boosting e-commerce traffic

One of the most visible trends in the world of e-commerce is the unprecedented usage of mobile devices. In 2021, smartphones accounted for almost 70 percent of all retail website visits worldwide, although desktop and tablet visits generated higher conversion rates in 2020. As the adoption of mobile devices is progressing at a rapid pace, especially in regions that lack other digital infrastructure, mobile integration will continue to shape the shopping experience of the future. M-commerce is particularly popular across Asia, with countries like South Korea generating up to 65 percent of their total online transaction volume via mobile traffic.

Impact of COVID-19

The coronavirus (COVID-19) pandemic continues to have a significant influence on e-commerce and online consumer behavior around the world. As millions of people stayed home in early 2020 to contain the spread of the virus, digital channels have become the most popular alternative to crowded stores and in-person shopping. In June 2020, global retail e-commerce traffic stood at a record 22 billion monthly visits, with demand being exceptionally high for everyday items such as groceries, clothing, but also retail tech items. How online usage, purchasing habits, and the overall future of e-commerce and the global retail industry will look like in 2021 and beyond will largely depend on the further progression of COVID-19.

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