In 2022, e-commerce sales grew by 3 per cent in Europe and 7 per cent in both the US and Asia. Global growth is anticipated to hit a 9 per cent compound annual growth rate (CAGR) through 2027. While this falls short of the 12-14 per cent pre-COVID trend, it still more than doubles the projected 4 per cent growth in brick-and-mortar retail, according to a study titled ‘Winning Formulas for E-Commerce Growth’ by Boston Consulting Group (BCG).
Companies were categorised as ‘winners’ or ‘laggards’ based on their post-pandemic growth. Winners, who reported growth above 30 per cent per annum and have a positive outlook for 2027, made up 27 per cent of retail and 20 per cent of CPG respondents. Laggards, reporting 10 per cent or less growth and lacking confidence in future e-commerce growth, constituted 21 per cent of retailers and 25 per cent of CPG companies surveyed.
Fibre2Fashion News Desk (NB)