Revenues from e-commerce are projected to shrink for the first time ever this year, according to the Statista Digital Market Outlook, which said supply chain issues are the largest single weakening factor, with inflation also playing a significant part in the downward revision.
The global recession and subsequent increases in unemployment leave the e-commerce sector with significant hurdles to overcome, Martin Armstrong, data journalist with Statista, wrote on the World Economic Forum website.
E-commerce revenues are projected to shrink for the first time ever this year, noted the Statista Digital Market Outlook. Supply chain issues are the largest single weakening factor, with inflation playing a key part in the downward revision. The global recession and subsequent increases in unemployment leave the sector with significant hurdles, it said.
Statista is a German company specialising in market and consumer data.
"This always has to be seen in perspective, and many industry experts contest the comparison of today's growth figures with pre-COVID-19 data. Nevertheless, the market is now compelled to tackle substantial questions about how to go forward. Even if there is a lot of headwind at the moment, we still believe online shares will eventually increase and revenue growth will get back on track," the newly released second chapter of Statista's Digital Economy Compass, titled 'From frenzy to fall: is eCommerce back to normal?', noted.
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