India to be fastest growing e-com market in 2021: eMarketer



India will be the fastest growing e-commerce market this year despite the continuing impact of the pandemic, as its potential is still largely untapped, according to eMarketer, which predicts rapid growth between 2021 and 2025. Retail e-commerce’s largest market is the Asia-Pacific, where digital retail sales this year will be more than thrice than in North America and nearly five times greater than in Western Europe.

Although India’s total retail sales growth dropped dramatically in 2020, e-commerce is soaring. The company expects digital sales to leap by 27 per cent this year as more retailers launch or expand their online stores. That will lift the country to eighth place in the annual retail e-commerce sales table.

Russia will be another newcomer to the top 10 sales ranking, based on estimated growth of 26.1 per cent in 2021.

China is the world’s top e-commerce market by a large margin. The sheer number of digital buyers, and their growing collective buying power, will keep China in the lead for the foreseeable future, eMarketer predicts.

The country will account for a remarkable 52.1 per cent of all retail e-commerce sales worldwide this year, far outpacing the United States’ 19 per cent.

North America will rank a distant second, though digital retail sales there will approach $1 trillion this year. Latin America, which lagged behind Central and Eastern Europe in 2020, will leapfrog it this year with estimated sales of $131.4 billion.

The company predicts that China, the United States, the United Kingdom, Japan and South Korea will constitute the top five e-commerce markets till 2025.

The number of countries where ecommerce claims a double-digit share of total retail is on the rise, too. Prior to the pandemic, only eight of the 32 markets we cover recorded ecommerce penetration in the double digits. In 2020, that list expanded to 16 markets and will include 22 markets by 2025.

Fibre2Fashion News Desk (DS)

India will be the fastest growing e-commerce market this year despite the pandemic’s impact, as its potential is still largely untapped, according to eMarketer, which predicts rapid growth between 2021 and 2025. Retail e-commerce’s largest market is the Asia-Pacific, where digital retail sales this year will be more than thrice than in North America.





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