Global e-commerce revenues could reach USD 5.4 tln in 2022
Photo by Ivan Kruk / Shutterstock.com
While 19% of international trade is currently conducted through electronic channels, this share is only around 10% in Hungary, so there is significant potential for market players to develop, said Ádám Mészáros, CEO of DHL Express Hungary, in his opening presentation at the Future Trade conference.
"Based on current research, the international B2C e-commerce market could reach USD 4.8 trillion in annual revenues by 2026," said Mészáros. "This forecast also shows that it is crucial for domestic e-shops to enter the international market, as it has huge potential. By 2026, the international B2C market could quadruple, with the global pandemic playing a catalytic role in its rapid growth. Today, when it comes to shipping, consumer feedback suggests that speed, reliability, and flexibility are key."
While total global e-commerce revenues reached USD 4.8 tln in 2021, this figure is expected to reach USD 5.4 tln this year, DHL notes.
According to DHL Express statistics, e-tailers with express delivery options are growing 60% faster. Some 91% of shoppers find out about delivery options before making a payment, while 66% also check the return policy before making a purchase. For consumers, speed of delivery is now more important than the cost of delivery.
"When it comes to e-commerce, shoppers are looking for flexibility and choice, and consumers like to be able to decide on the speed of delivery, as well as the ease of changing the time, address, and method of delivery," said Szilvia Nagy, e-commerce and marketing manager, DHL Express Hungary. "If an e-tailer offers express delivery in its online shop, the average shopping cart value can increase by up to 70%."
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