Global online retail transaction values to reach USD 4.8 tln by 2024

Tuesday 24 March 2020 15:06 CET | News

A new report from Juniper Research has found that total online retail transaction values will reach USD 4.8 trillion by 2024, up from USD 3.3 trillion in 2020. 

This growth will be driven by emerging markets, with China having 62% value growth over the next four years. The research identified the Chinese online retail market as a major factor, as well as regions such as Latin America and Africa & Middle East, as improvements in connectivity will enable the rise of online retail in new markets.

The research also found that mobile handset penetration is rising faster than banking penetration in developing markets, meaning that mobile access is the best way for online retail and payments providers to reach potential users.

Juniper Research provides research and analytical services to the global hi-tech communications sector – providing consultancy, analyst reports, and industry commentary.

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Keywords: Juniper Research, online retail, report, emerging markets, China, mobile access
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce