eCommerce Revenues Continue to Surge as Consumers Limit In-Store Purchases

PALM BEACH, Fla., Nov. 8, 2022 /PRNewswire/ --  FinancialNewsMedia.com News Commentary - eCommerce sales for businesses have been steadily increasing for years, and with the migration of virtually all transactions to digital due to the COVID Pandemic, worldwide sales through ecommerce sales channels such as websites and online marketplaces increased overall, beginning in 2020 and continuing to the present day… and beyond. Retail consumer goods ecommerce is by far the most dynamic. It had an 18% share of the total global retail sales in recent years and is forecast to have over a 1% annual growth rate, achieving a nearly 22% share of total global retail sales by 2024.  The proliferation of electronic commerce and the resulting rise in the number of online buyers, especially in emerging economies is anticipated to fuel market growth. E-commerce businesses significantly depend upon the warehousing and shipping capabilities to get products transported from manufacturing units/retailers to end-users in a shorter lead time.  With consumers shunning in-store purchases, during COVID and preferring to shop online, the surge in online orders did put an unprecedented strain on the logistics and transportation services of online merchants and distributors… but the pandemic actually opened a new long-term growth avenue for e-commerce and service contentment companies. To better fulfill the growing number of online sale orders, e-commerce companies increasingly prefer outsourcing fulfillment services to providers that are increasingly focusing on improving their internal operational efficiency and a strong distribution network.  Active companies in the markets this week include Safe-T Group Ltd. (NASDAQ: SFET), PayPal Holdings, Inc. (NASDAQ: PYPL), Shopify Inc. (NYSE: SHOP), Etsy, Inc. (NASDAQ: ETSY), eBay Inc. (NASDAQ: EBAY).