China’s booming e-commerce market is forecast to see sales volume of nearly $2 trillion by 2025, said a report on digital megatrends released by FedEx Express.
China, the world’s biggest e-commerce market, is embracing significant digitalization-related megatrends alongside its socio-economic growth, said the report.
These megatrends of China’s e-commerce sector are a diversified shopping experience, reinvented shopping modes, smart cities and homes, connected consumers, shifting market frontiers, sharing economy, and buying time.
COVID-19 has been a catalyst for e-commerce growth worldwide. E-commerce is expected to grow at an average of 47 percent in the next five years globally. The Asian market leads the field at 51 percent, followed by Europe and North America, according to the report.
“The promising outlook creates vast opportunities for logistics companies to grow,” said Kawal Preet, president of the Asia Pacific, Middle East and Africa region at FedEx Express.