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Post Pandemic eCommerce
From the initial impact of the pandemic restrictions on ecommerce, we look at how COVID changed the digital economy.

Post Pandemic eCommerce

Pandemic Restrictions Initially Boost eCommerce Sales 

eCommerce sales accounts for the largest portion of the overall digital economy worldwide.
eCommerce sales accounts for the largest portion of the overall digital economy worldwide.

As the world plunged into COVID pandemic lockdowns in 2020, we saw a distinct boost to ecommerce sales channels as many businesses pivoted to ecommerce for basic survival during the lockdowns.   Following the easing of pandemic restrictions in 2021 and we saw a dip in online sales by 2022 as people finally ventured back out into the world.

We are returning back to online shopping in 2023 with that number steadily growing annually
We are returning back to online shopping in 2023 with that number steadily growing annually.

Although online sales dipped in 2022, we as consumers have been acclimatized towards the convenience of online shopping as is depicted in the positive growth trendline in the chart above.  It is projected that this growth will continue through 2023 and continue steadily through 2025. This too is another example of the Impact of COVID Pandemic on eCommerce.

Businesses Adjust to “eCommerce Learning Curve”

A result of the impact of COVID on eCommerce, direct selling is gaining worldwide traction, particularly in the Asia Pacific Region
A result of the impact of COVID on eCommerce, direct selling is gaining worldwide traction, particularly in the Asia Pacific Region

Retail sales through an individual business website direct-to-consumers (DTC) have increased slowly since 2019 pandemic lockdowns began. This is driven in part by increased ecommerce marketplace sales, where entrepreneurs and businesses alike have been able to start their online sales that later grow into adding a business website for online sales.

Over 90% of B2B companies worldwide have now shifted to a virtual sales model
Over 90% of B2B companies worldwide have now shifted to a virtual sales model

The majority of B2B companies have shifted to a virtual sales model since pandemic lockdowns forced the world into the digital economy. The countries of Japan and South Korea stood out from the rest of the world in the amount of B2B companies that have stayed offline for sales. The shift to remote selling reinforces the importance of ensuring that your website is optimized for international sales.

Looking Forward to eCommerce in 2025 and Beyond

Retail online revenue share will increase to 26% of overall retail sales by 2025
Retail online revenue share will increase to 26% of overall retail sales by 2025

Despite the current desire of a post-lockdown world to return to offline sales, online sales shares are still projected to increase on a global scale from 16% in 2021 to 22% in 2025. 

Products serving essential needs such as food and beverages are performing well with online sales
Products serving essential needs such as food and beverages are performing well with online sales

Economic turmoil around the world has also changed the composition of online sales, with discretionary spending on things like electronics and fashion in decline,  while spending on other sectors like toys, furniture, beauty, health, persona and household care, beverages, and media grows.
Political turmoil around the world has impacted global optimism, with supply chain professionals in the Middle East & Africa Regions and LatAm & Caribbean Regions more optimistic about increasing ecommerce sales shipments through 2025.

Supply chain professionals’ expectations for cross-border ecommerce sales worldwide 2023 by region
Supply chain professionals’ expectations for cross-border ecommerce sales worldwide 2023 by region

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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