Online commerce to account for 15% of global retail trade by 2020 | Progresiv
A new study by French credit insurance firm Euler Hermes claims that online commerce could reach 15% of global retail sales by 2020. As reported by Le Monde, the study found that not only the consumer is increasingly connected, as 44% of the global population now has access to the Internet, compared to 7% in 2000, but some countries have experienced a technological leap, going straight to mobile commerce. 
These fast developments have had impact on the financial health of retailers. Ruthless price wars to capture consumers ‘have exhausted the financial resources of many traditional players, who have not been able to adapt to the digitisation of the supply chain’, Euler Hermes said.
According to Euler Hermes, the retail trade must be transformed to face ‘accelerated numerical pressure and changes in consumer demands’. In order to catch up, retailers spent around 200 billion dollars acquiring technology companies in 2016, compared to 148 billion dollars in 2014. (www.esmmagazine.com)
