China has already reached 77% of products sold in the e-commerce space.
The Edge company, which has brands such as Apple, The Walt Disney Company, and Samsung Electronics in its client portfolio, has conducted a study with a sample of 2,500 retail chains, in ten prominent markets: China, South Korea, United Kingdom Kingdom, Brazil, Germany, United States, Japan, France, Canada, and Mexico.
China is the country that is at the forefront of online sales, which represent 77% of the total. In the second position is South Korea, with 44%, and in third place is the United Kingdom, with 32%.
On the other hand, the largest increase occurred in Latin America, with an increase of 80% in Mexico and 75% in Brazil.
Edge, expects online sales to continue to grow in 2022 to represent 33% of global sales.
58% of world e-commerce is in the hands of 6 companies (and two of them are from Alibaba Group, the Chinese leader).
Live videos and live third-party tips have become a core feature of China's largest e-commerce apps like Taobao Marketplace, JD.COM, and Pinduoduo.
Shopping is also becoming an integral part of China's most popular social video apps, Kuaishou Technology and Douyin, the Chinese version of ByteDance's TikTok.
In Europe, we continue to settle for “online”, flat and static stores.
It seems as if our electronic commerce is staying in the "Stone Age".
Amazon is great for finding "convenience" items. But it seems that our neighbors in China believe that for the fastest-growing categories in e-commerce, such as fashion, beauty, and home goods, "people want to hear what others think and understand the story of the product."
The metaverse, artificial intelligence, augmented reality, Web 3.0, voice search commands, live streaming, omnichannel sales, and chatbots are some of the major trends that are already dominating e-commerce in 2022.
Are we missing a part of the movie?
Create an account to read the full article
Create Account
Already have an account? Sign in