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Ecommerce

Global ecommerce growth forecasted to reach USD 8 trillion by 2020 – report

Thursday 14 April 2016 | 07:46 AM CET

The digital commerce market is set to increase from USD 4.9 trillion in 2015 to over USD 8 trillion by 2020, a new research found.

The digital commerce market will see contributions from digital banking, remote digital goods and remote physical goods, juniperresearch.com reports.

Online retail events such as Cyber Monday have been credited with boosting online platform incomes. China’s own Black Friday event known as ‘Singles' Day’ reportedly saw Alibaba sell USD 14.3 billion in goods, found Digital Commerce: Key Trends, Sectors & Forecasts 2016-2020, a research conducted by Juniper Research, the source cites.

The research found that in China WeChat and Alipay P2P traffic increased during February 2015. WeChat registered more than USD 3.3 billion P2P ‘red envelope’ transactions in 6 days over the Chinese New Year period.

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