There has been a boom in global e-commerce retail sales over the past few years, some of it driven by the Covid-19 pandemic; the value of e-retail sales has tripled between 2015 and 2021, from $1.5 trillion to close to $5 trillion—nearly 19% of the global retail market.
It is set to grow at a compounded annual growth rate of 11.35%, as per an analysis by Icrier, in 2022-2025.
There is wide variation in the degree of e-retail penetration among the G-20 countries, with South Korea leading the pack followed by China. India has one of the lowest shares.