Global e-commerce shows a rapid development in recent years. On one hand, e-commerce in a country develops, on the other hand, cross-border trade contributes to global e-commerce. The development of global e-commerce is directly linked to the development of the Internet economy and is mutually interdependent.
According to the Economist Intelligence Unit’s study, estimates that the Internet economy will account for 5.3% of GDP in 2016 in the G-20 economies and 5.7% in EU economies, and more than twofold of growth in e-commerce of developing countries.
One of the most important indicators of global e-commerce is global retail e-commerce sales. The increasing share of global retail e-commerce in total retail sales means that global e-commerce has increased. Global retail sales totaled approximately $ 22 trillion in 2016. In the year 2020 globally it is estimated that retail sales will be $27 trillion. Global retail e-commerce sales represent 8.7% of total retail sales, and by 2020 global e-retail sales are estimated to account for 14.6% of total retail sales. Total global retail e-commerce sales in 2014 increased from $ 1.3 trillion to $ 1.9 trillion in 2016. It is estimated that in 2020 it will be over 4 trillion dollars. Global e-commerce sales volume continues to increase despite a slowdown in retail e-commerce sales growth in recent years (Graph 1).
slowdown in retail e-commerce sales growth in recent years (Graph 1).
Graph 1. Global Retail E-commerce Sales, billions of dollars
(Source: E-Marketer, August 2016)
Global e-commerce shows a rapid development, although with some obstacles. While some of the most important obstacles to global e-commerce are related to national regulations, others are mentioned as technical and logistical obstacles. The most common obstacles are the lack of information on law and regulations, differences in consumer law, specific requirements for web content, and customer related issues.