Global E-Commerce Sales Likely to Exceed $3.9T in 2020, Says PingPong
“Cross-border” payment specialist PingPong estimates global 2020 e-commerce sales likely will top $3.9 trillion, rising by an average 11% across all markets compared with 2019, said the company Tuesday. U.S. e-commerce sales jumped 15% year over year in Q1, then…
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spiked 44.4% in Q2 when COVID-19 lockdown orders were imposed, it said. PingPong's Amazon merchant data showed that on Black Friday, new third-party sellers had a lower-than-expected average 153% increase in sales, with existing stores in business for more than 12 months recording a 108% rise, it said: “This data may indicate that despite a lift from shifting consumer spending habits, there were significant challenges for new marketplace entrants this year.”