COVID-19 Outbreak Accelerates the Shift of Global Retail to E-Commerce
Online shopper penetration increases during the pandemic
Faced with lockdown regimes and store closures, consumers turn to online and mobile shopping to buy groceries, daily necessities, and other products. A recent survey cited in the report revealed that a double-digit share of online shoppers was buying more digitally due to COVID-19, and some of them adopted the practice for the first time during the outbreak. The share of global retail sales generated via E-Commerce is rising, as a result, projected to reach one-third by 2024. At the same time, some segments, including travel and airlines, experienced a severe downturn due to COVID-19 in both online and offline channels. Online travel agencies such as Booking Holdings, Expedia Group, and Airbnb saw weekly accommodation bookings plummet by over -90% during April 2020.
Digital and contactless payment methods rise amid the COVID-19 outbreak
The coronavirus outbreak is not only transforming the way consumers shop but also how they pay for their purchases. Contactless payments received an unprecedented boost during the pandemic, seen by consumers as a cleaner way to pay in-store. Consumers are also trying out new payment methods while purchasing from E-Commerce websites, and favour those methods that have the strongest protection against fraud losses. Overall, total payment volumes are expected to decrease in 2020 due to losses in travel and in-store segments, but resume growth in 2021 and benefit from the shift to cashless payments and online shopping.
Report Coverage
The report covers the impact of the coronavirus (COVID-19) pandemic on B2C E-Commerce and online payments worldwide. The report focuses on the present effect and future implications and trends. All major global regions were covered in this report, with data availability ranging by region and country.
Report Structure
- A global chapter opens the report summarizing the effects of COVID-19 on global B2C E-Commerce, B2B E-Commerce, digital payments, and selected online verticals - travel, airlines, food delivery, fashion, luxury, education, and gaming.
- The rest of the report is divided by regions. The regions are presented in the descending order of B2C E-Commerce sales. In each region, regional information is included first, followed by country chapters, where available.
- Depending on data availability, the following types of information were included: data concerning the increase or decrease in online sales and orders (total or for selected product categories, such as FMCG); consumer surveys indicating a shift in consumer shopping behavior due to the outbreak of COVID-19 or its consequences such as lockdowns and quarantine regimes; retailer and E-Commerce merchant surveys concerning the impact of the coronavirus on their businesses.
For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report
Table of Contents
1. Management Summary
Samples
LOADING...
Companies Mentioned
A selection of companies mentioned in this report includes:
- Adyen NV
- Airbnb Inc.
- Alibaba Group Holdings
- Amazon.com Inc.
- Booking Holdings
- Carrefour SA
- Expedia Group
- LVMH Moet Hennessy Louis Vuitton SE
- Mastercard Inc.
- Stripe Inc
- Walmart Inc.
Methodology
LOADING...