The e-Comm Minute™

In his iconic book  “TheWorld is Flat”, Thomas Friedman (2005) quoted a source from the UPS which says, “On any given day, according to UPS, 2 percent of the world’s GDP can be found in UPS delivery trucks or package cars.”

I have no idea how accurate that statement is, but given the accelerated growth of ecommerce in the past 15 years and the rapid increase in online activity due to COVID-19, I have little doubt that in 2021 this number is much higher. 

It is estimated that there will be around 2.14 billion global digital buyers in 2021. (Statista) Furthermore, ecommerce sales are expected to account for 18.1 percent of all retail sales worldwide. (e-Marketer) 

Data from Nielsen indicates that online consumers ‘travel around the world’ from the comforts of their couches in search for the best deals to maximize savings or a unique gift for their loved ones.  

Let the numbers do the talking: 63.4% of Europeans, 55.5% of Africans, and 54.6% of Latino Americans prefer to buy their products from overseas retailers.  

In China, there are over 149 million consumers who buy from overseas sites. Meanwhile, the US is the second largest ecommerce market in the world with over 82.72 million buyers who purchase from overseas retailers. And according to Business.com, 57% of consumers have purchased from a foreign retailer. 

At a time when e-commerce sees double-digit growth, and when 28% of consumers tell us that they’ll continue to buy online, the only question that remains is, do you have your e-Comm Passport Ready?

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Francisco A. Arinci

Head of Digital Strategy

Lievant US – www.lievant.us