As retail ecommerce sales in China are expected to reach $2.564 trillion in 2021 and continue to grow by double digits through 2023, advertisers will increasingly shift their attention to the vast potential of that market. Dive deeper:.

Though retail ecommerce sales jumped from 11.0% of total retail sales in 2019 to 14.4% in 2020, it’s still a minority percentage and may not be able to sustain these gains as the pendulum swings back to brick-and-mortar. But the pandemic has likely permanently realigned consumer shopping expectations around a digital-first mindset.

A tie-up with Alibaba.com lets JPMorgan capitalize on the retail conglomerate's vast business: Alibaba’s retail ecommerce sales are expected to hit $1.2 trillion this year, per eMarketer forecasts from Insider Intelligence.

China led cross-border ecommerce buyer growth with a 24.5% increase in 2020, and Shopify’s partnerships with Chinese tech giants like Alipay, and with ByteDance’s TikTok, will help its merchants more easily penetrate the market. The marketing stack opportunity: Shopify’s investment in Yotpo adds yet another layer of automation for merchants and may hint at a future acquisition in the marketing space.

We include the following consumer categories in our definition of retail ecommerce sales:.

Following a major shift to online retail in 2020, retail ecommerce sales will continue to grow by double digits through 2023 and make up an increasing share of total retail sales worldwide.

Livestream shopping took off in China four to five years ago, but has developed into a $300 billion industry this year, accounting for 11.7% of all retail ecommerce sales in the country. To put that in perspective, that figure makes the livestream shopping market in China larger than every other entire retail ecommerce market in the world, except for China and the US.

We estimate that Alibaba retail ecommerce sales will grow 16.0% to $1.209 trillion in 2021 (January to December) and account for 47.1% of total retail ecommerce sales in China, down from 48.1% in 2020. We estimate that retail ecommerce sales in China will climb 18.5% to reach $2.564 trillion in 2021 for a 52.1% of the global total.

We estimate that Alibaba retail ecommerce sales will grow 16.0% to $1.209 trillion in 2021 (January to December) and account for 47.1% of total retail ecommerce sales in China, down from 48.1% in 2020. We estimate that retail ecommerce sales in China will climb 18.5% to reach $2.564 trillion in 2021 for a 52.1% of the global total.

Global retail ecommerce sales will decelerate to a 16.5% growth rate in 2020. Even as consumers transitioned en masse to ecommerce during the pandemic, the drag caused by multiple recessions internationally has reduced the overall outlook.

Already No. 1 in ecommerce, China will overtake the US this year to become the world’s largest overall retail market for the first time.

Retail ecommerce sales more than doubled in Argentina last year, as many shoppers there pivoted to buying online. Canada and Singapore both saw growth of over 70%, skyrocketing past the global average of 25.7%. More like this:. Audio: The next major challenge for grocery, marketers' social strategies, and Reels gets ads. Article: US sales on Prime Day break $11 billion, Adobe Analytics data shows.

As the coronavirus continues to spread, China's status as the epicenter of major supply chains is causing significant changes to businesses and consumer behavior. This is not only putting a strain on multiple industries within the country, but multinationals operating out of and doing business in China are feeling the effects as well.

eMarketer senior analyst Bill Fisher hosts senior forecasting analyst Cindy Liu, research analyst Man-Chung Cheung, researcher Xiaodi Xu, and research analyst at Insider Intelligence Matteo Ceurvels to discuss holiday shopping around the world. They talk about the origins of Thanksgiving weekend shopping, why China's Singles' Day is the largest shopping holiday in the world, and how the Buen Fin in Mexico is adapting in 2020.

In the Global Ecommerce 2020 Report, eMarketer explores where certain countries and regions are expected fall in respect to retail ecommerce sales, how the pandemic has shaped our estimates, and how ecommerce will fair both globally and nationally for the remainder of the year. Here are some key takeaways from the report:.

This effect is already noticeable in markets that have begun opening up: In China, physical retail locations have reopened, but consumer spending has failed to bounce back. One case study shows that nearly 90% of H&M locations in China were open by mid-March, but sales were still down 79% year over year, according to Inside Retail Asia.

Three of the four largest ecommerce companies in the world are based in China—Alibaba, JD.com, and Pinduoduo (PDD)—and they are all still delivering impressive annual sales increases.