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Apr 15, 2021
As Covid-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online – leading to an additional $900-billion being spent in retail online around the world in 2020.
Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019, according to Mastercard’s latest Recovery Insights report.
For retailers, restaurants and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted.
Roughly 20% to 30% of the Covid-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymized and aggregated sales activity in the Mastercard network and proprietary analysis by the Mastercard Economics Institute. The analysis dives into what this means by country and by sector, for good
15 Apr 2021 - 11:01
The Peninsula
As COVID-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online.
According to Mastercard’s latest Recovery Insights report, this amounted to an additional $900bn being spent in retail online around the world in 2020.
Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019. For retailers, restaurants and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted.
Roughly 20-30 percent of the Covid-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymized and aggregated sales activity in the Mastercard network and proprietary analysis by the Mastercard Economics Institute.
UAE sees 21% jump in online shops issacjohn@khaleejtimes.com Filed on April 14, 2021
The e-commerce market in the region was worth $22 billion by the end of 2020, boosted by online shoppers from Saudi Arabia, Egypt and the UAE.
The UAE’s digital economy prior to Covid-19 contributed 4.3 per cent to the country’s GDP.
The UAE recorded an increase in online consumer spending primarily driven by a 21 per cent jump in the number of online shops as the world witnessed an exponential boom in retail eCommerce with an additional $900 billion being spent in 2020.
The UAE, one of the leading online retail market in the region, also witnessed a 44 per cent year-on -year jump in the number of high-volume eCommerce trading partners from 2019 to 2020, according to Mastercard’s latest Recovery Insights report.