Due to the mobility restrictions during the COVID-19 pandemic, businesses and consumers both shifted to digital forms of everyday activities. That simply includes work remotely with communication tools and shopping online with e-commerce platforms. Gradually, online shopping has been the preferred choice for the consumers. This brought the remarkable rise in online share of retail sales. Thus, the global e-commerce during COVID-19 pandemic has changed forever.
In this post, we explored and analyzed the global trend in e-commerce during the pandemic. We compare e-commerce companies and third-party online marketplaces.
Global E-commerce
Due to the increased demand of online shopping and accessibility of mobile devices and mobile internet, it is driving e-commerce sales worldwide. The below statistics shows that global e-commerce sales has been rising at very large scale ever since 2019. The statistics predicts the figures up to 2025 and constitute huge amount.
E-commerce Companies vs Third-party Online Marketplaces
The report from UNCTAD titled COVID-19 and E-Commerce (2020), shows that more than 60% third-party marketplaces stated that their online sales has increased while only 34% of e-commerce companies experienced the increase in sale. This clearly says that third-party online marketplaces are performing well. This may be the result of varying choices, participation of variety of businesses with their services in the third-party marketplaces.
E-commerce in Nepal
Growth in e-commerce has also been experienced. The percentage of people who make online purchases or pay bills online has raised significantly. Obviously, e-commerce is mostly city focused in Nepal while increasing availability of mobile internet the trend is shifting. Though there has been steady progress in e-commerce in Nepal with payment integration and more interest in consumers, e-commerce is in its early stage.
The provision of acts and regulations, promotion of business-to-business e-commerce, enhanced and trustworthy payment systems and expansion of ICT infrastructure are the key to way forward for e-commerce in Nepal.
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