06.Oct .2022 22:00

Global e-commerce volume to hit $5.5T by end of 2022

Global e-commerce volume to hit $5.5T by end of 2022
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The global e-commerce volume is expected to reach $5.5 trillion by the end of this year, up 14% from $4.9 trillion in 2021, according to the head of the World E-Commerce Forum (WORLDEF).

The global e-commerce sector's share in overall retail sales was 21% last year and it is expected to reach 24% by 2026, Omer Nart told Anadolu Agency.

Next year, the volume is expected to reach $6.5 trillion globally, he added.

The e-commerce sector has been developing since the 2010s, he said, noting some infrastructure and security problems before 2010.

With contributions from governments and developing technologies, the sector gained significant ground and customers have warmed to the comfort.

The COVID-19 pandemic was a triggering factor in spreading e-commerce, Nart said.

Stressing Türkiye's position in the sector, he said WORLDEF aims to make Türkiye a regional e-commerce hub through events, trainings, and business meetings.

The e-commerce volume in Türkiye is expected to reach 600 billion Turkish liras ($32.3 billion) this year, he said.

At the end of last month, WORLDEF organized an e-commerce summit in Istanbul, hosting around 21,000 participants.

Nart said that at the next meeting, the forum targets to host 100,000 participants, AA reports.