The retail sector has been undergoing a form of digital transformation ever since the introduction of e-commerce.
In 2022, worldwide retail sales are poised to grow 5% year-over-year (YoY) to exceed $27.33 trillion. Although e-commerce stores had a high growth rate during the pandemic, e-commerce spending growth is expected to slow considerably -due, in part, to the rebound of physical stores. However, the channel will still account for more than 20% of total global retail.
Consumers returned to the brick and mortar stores, over the last year which reflects the resiliency of retailers, it signals that e-commerce’s rise to dominance may take longer than expected. However, e-commerce sales are set to exceed $5 trillion for the first time, which accounts for more than a fifth of overall retail sales.
To find out more about the retail trends of 2022 and how digitalisation and sustainability is impacting the sector, download our whitepaper today...
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