E-commerce boom fuelled by the pandemic last year increased the share of online sales to one-fifth of the total global retail turnover, shows a UN study.The UN Conference on Trade and Development (UNCTAD) estimates online sales to have accounted for 19 per cent of overall retail sales in 2020. As per estimates, the South Korea’s share increased to 25.9 per cent from 20.8 per cent the year before. China had a 24.9 per cent share, Britain 23.3 per cent and the United States 14.0 per cent.
The pandemic led to mixed fortunes for leading B2C e-commerce companies in 2020, according to the report. Gross Merchandise Volume of top 13 e-commerce firms offering services such as ride hailing and travel declined sharply during the year. Expedia declined to the 11th position while Booking Holdings fell to the 12th place and Airbnb to the 13th.
China's Alibaba remained atop the rankings by GMV, followed by Amazon in the United States. Despite the drop at services companies, total GMV for the top 13 B2C e-commerce companies rose by 20.5 per cent to $2.9 trillion in 2020, outpacing the 17.9 per cent gain in 2019.