eMarketer has estimated that worldwide retail ecommerce sales will reach USD 1.915 trillion in 2016, in a new report, ‘Worldwide Retail Ecommerce Sales: The eMarketer Forecast for 2016’.
eMarketer includes sales across all retail channels in its estimates for total retail sales. This includes sales from ecommerce retailers and transactions that occur over consumer-to-consumer (C2C) platforms such as eBay and other auction sites.
Retail ecommerce sales, which include products and services ordered via the internet over any device, will reach USD 1.915 trillion in 2016, accounting for 8.7% of total retail spending worldwide. While the pace of growth for overall retail sales is subdued, the digital portion of sales continues to expand rapidly, with a 23.7% growth rate forecast for 2016.
eMarketer expects retail ecommerce sales will increase to USD 4.058 trillion in 2020, making up 14.6% of total retail spending that year.
Asia-Pacific will remain the world’s largest retail ecommerce market throughout the forecast period, with sales expected to top USD 1 trillion in 2016 and more than double to USD 2.725 trillion by 2020. The region will also see the fastest rise in retail ecommerce sales, climbing 31.5% in 2016.
Retail ecommerce sales in North America will rise 15.6% in 2016 to reach USD 423.34 billion, maintaining the area’s status as the world’s second largest regional ecommerce market. The region will see consistent double-digit growth through 2020, fueled by increased spending from existing digital buyers, expansion into new categories such as grocery, and growing m-commerce sales.