Global e-commerce is forecast to double to $4.1 trillion by 2020, from $1.9 trillion in 2016, as consumers in populous countries such as India and China prefer to shop online to avoid crowded malls, a KPMG survey showed on Friday.
The share of e-commerce in total sales will rise to 14.6% by 2020 from 8.7% in 2016. Consumers in China, India and Singapore, say crowd avoidance was a top motivator to shop online.
In India, the government has been pushing citizens to go for digital transactions as part of efforts to move towards a less cash economy.
With 22.1 transactions per person per year, Asia tops the chart of online buys followed by North America (19%), Europe (18.4%) and Australia (16.1%).
Books, music, electronic gadgets, computers and women apparel are among the top five products purchased online, said the Global Online Consumer report for 2017. In case of India, telecom products and men’s footwear were also among the top five items purchased.
“Advances in technology, logistics, payments and trust coupled with increasing internet and mobile access and consumer demand for convenience have created a $1.9 trillion global online shopping arena, where millions of consumers no longer ‘go’ shopping, but literally are shopping at every moment and everywhere,” said the KPMG survey conducted on 18,430 consumers in 51 countries.
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