E-commerce has been growing rapidly and playing an increasingly larger role in the consumer experience. In fact, by 2021 more than ¼ of the world’s population, some 2.14 billion people, will be shopping online. Their online purchases will account for nearly 20% of retail sales worldwide. Some experts predict that this number will increase to more than 95% by 2040.
Add to these figures the changes in consumer behaviors and preferences brought about by the sudden and rapid spread of COVID-19 and it is easy to see the massive opportunity for e-commerce retailers.