Report shows ecommerce set to grow in BRICS countries

Wednesday 30 August 2017 11:12 CET | News

A report from Alibaba shows that ecommerce will become a thriving industry in Brazil, Russia, India, China and South Africa.

The report claims that gross merchandise volume generated via online shopping portals with grow 340% by 2020 and reach USD 3 trillion in BRICS countries. This would represent 59% of global ecommerce transaction value in five years, an increase by 41.8% since 2016.

The number of online shoppers is also projected to nearly double from 720 million in 2016 to 1.35 billion in 2020. The report’s findings indicate that shoppers from Brazil, Russia, India, China and South Africa will create a large global ecommerce network.

Chinese people are increasingly drawn to Russian candies and cookies, Indian handicrafts and spices, Brazilian pine nuts and propolis, as well as grapefruit and wine from South Africa.

Meanwhile, customers in the four countries are interested in Chinese apparel, mobile phones and accessories, and consumer electronics, according to data from AliExpress, an Alibaba export subsidiary targeting overseas buyers.

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Keywords: report, ecommerce, Alibaba, BRICS, Russia, China, Brazil, ecommerce sales, online shopping
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce