Global retail e-commerce continues to experience double-digit growth, driven mainly by gains in Asia, according to a recent report. In 2019, global retail e-commerce sales will reach more than $3.5 trillion, nearly 21 percent higher than it was in 2018. China, the largest e-commerce market in the world, will widen its lead significantly by the end of the year, growing more than 27 percent in 2019 to nearly $2 trillion. Growth continues in the U.S.—the second-largest retail e-commerce market—though it has flattened somewhat. Retail e-commerce sales in the U.S. will grow 14 percent this year to $587 billion. For comparison, total global retail sales growth will remain flat for the third year in a row at 4.5 percent. E-commerce’s share of total retail will increase this year to nearly 12 percent worldwide.
“It’s hard to fathom, but China only recently surpassed the U.S. in e-commerce sales in 2013 for the first time. Since then, it has quickly widened the margin,” said eMarketer’s Andrew Lipsman in the report. “On its own, China represents 54.7 percent of the global e-commerce market, a share nearly twice that of the next five countries combined. As China goes, so goes the global e-commerce market.”
While Asia-Pacific is the fastest growing region overall paced by high growth rates in India, the Philippines, China, Malaysia and Indonesia, Mexico is the fastest-growing e-commerce market in the world, according to the New York City-based market research firm. It estimates Mexican retail e-commerce will surge 35 percent this year. Canada also breached the top 10, with sales projected to grow more than 21 percent.