The pandemic was disastrous for many retailers; we estimate that total retail sales worldwide plunged 2.8% in 2020. Though, while many physical stores were shuttered, digital retail sales soared by over 25% in a single year.

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.

Alibaba’s quarterly earnings: The ecommerce giant posted strong growth in its retail and global businesses, even though we expect its share of China’s total ecommerce sales to dip slightly this year.

Alibaba’s quarterly earnings: The ecommerce giant posted strong growth in its retail and global businesses, even though we expect its share of China’s total ecommerce sales to dip slightly this year.

Livestreaming ecommerce—a market-like online shopping experience that feels like an amalgamation of the Home Shopping Network (HSN), game shows, talk shows, and auctions—has taken China by storm. The phenomenon was in part fueled by the pandemic, as brick-and-mortar stores temporarily closed down and consumers sheltered in place. Yet, a year later, livestream shopping is still going strong in the country.

Adobe Analytics estimates that total US ecommerce sales on Prime Day surpassed $11 billion, and Amazon said that its global customers bought more than 250 million items during the coveted two-day shopping event.

Even as total worldwide retail sales declined by 3.0% in 2020, retail ecommerce growth boomed to 27.6%. Ecommerce growth will decelerate substantially in 2021 to 14.3% as brick-and-mortar sales recover.

The duopoly of Facebook and Google still dominates digital ad revenues worldwide, but a collective rival from the ecommerce industry is showing momentum.

The top 10 P2P payment apps worldwide

The UK launch is its first international crypto expansion and anticipates the company’s super app goal.

Although BNPL is flourishing, intensifying competition might push providers into new global markets and sectors outside of traditional retail to sustain their growth.

Social commerce is rising rapidly worldwide. But to what extent can the US market mirror that of China, the world leader in social commerce?