In 2020, the e-commerce sector experienced unprecedented growth. When the world came to a standstill and we all had to put our lives on hold, e-commerce reached its record breaking 16.4% of total global retail sales. Online sales accelerated in a matter of weeks, registering growth that we would normally have seen in several years.
The virtual shop is emerging as the reboot point for the economy and sees the rush by sellers and consumers to online as a phenomenon that is set to continue a growing trend for years to come.
For business owners, this is great news. However, on the other hand, internet commerce is starting to become more crowded and competitive than ever before.