Mapped: The World’s Fastest Growing eCommerce Markets

Published

3 months ago

September 9, 2021

Article/Editing:

Carmen Ang

The following content is sponsored by Logiq

The World’s Fastest Growing eCommerce Markets

While the overall retail industry struggled amidst the global pandemic, eCommerce sales managed to reach unprecedented heights. In 2020, retail eCommerce sales grew by 27.6%, reaching a total of $4.28 trillion worldwide.

But which regions saw the biggest increases throughout 2020, and how does each market compare to one another? This graphic, presented by Logiq, explores the fastest growing eCommerce markets across the globe.

Which Markets Saw the Most Growth?

In 2020, Latin America’s eCommerce market saw the most growth of any region, surpassing Asia-Pacific’s growth for the first time since 2010.

Rank	Region	Sales Growth YoY (2020)
1	Latin America	36.7%
2	North America	31.8%
3	Central & Eastern Europe	29.1%
4	Asia-Pacific	26.4%
5	Western Europe	26.3%
6	Middle East & Africa	19.8%
	Worldwide Average	27.6%

The pandemic played a big role in Latin America’s growth. The region’s two major economic hubs Buenos Aires, Argentina and São Paulo, Brazil had to endure strict pandemic-induced lockdowns, which ultimately led to significant growth of the eCommerce market.

Restrictions in Buenos Aires were on and off from late March until early November 2020, and after restrictions were lifted, citizens were encouraged to practice “intelligent” social distancing and be more cautious when socializing.

At the country level, Argentina was the fastest growing eCommerce market in 2020, with a 79% increase in online sales compared to 2019—almost double the worldwide country average.

Rank	Country	Sales Growth YoY (2020)
1	🇦🇷 Argentina	79.0%
2	🇸🇬 Singapore	71.1%
3	🇪🇸 Spain	36.0%
4	🇧🇷 Brazil	35.0%
5	🇬🇧 UK	34.7%
6	🇫🇮 Finland	33.5%
7	🇵🇭 Philippines	33.0%
8	🇺🇸 US	32.4%
9	🇳🇴 Norway	32.2%
10	🇮🇳 India	27.6%
	Worldwide Average	41.5%

Singapore was the second-fastest, with a 71.1% increase in eCommerce sales.

Keen to capitalize on this rising trend, Singapore has rolled out a number of policies and initiatives in an effort to support its digital industry.

For example, under the Skills Ignition SG initiative, several Singaporean government agencies have partnered with Google to provide training for aspiring tech workers.

Third on the ranking is Spain with a 36% increase in eCommerce sales. Spain was severely impacted by COVID-19—in the early days of the pandemic, cases in Spain rose quickly, causing strain on the country’s healthcare system and ultimately driving the country into strict lockdown, which forced consumers to turn to online shopping.

eCommerce Growth, by Category

Though eCommerce sales in 2020 saw an overall increase, some industries saw more success than others. For instance, global spending on Food and Personal Care grew significantly (44.8%) in 2020, while Travel spending dipped more than 50%.

Category	% Global change in spending (2019-2020)
Food & Personal Care	44.8%
Electronics & Physical Media	43.9%
Toys, DIY & Hobbies	37.4%
Digital Music	35.2%
Fashion & Beauty	34.4%
Video Games	32.8%
Furniture & Appliances	30.9%
Travel, Mobility & Accommodation	-52.6%

Of course, since travel is expected to bounce back by 2023, according to a recent report by the International Air Transport Association, these figures are likely to change in the near future.

Different Markets, Different Marketing

While eCommerce has grown worldwide, each individual market looks slightly different, which means generic marketing tactics won’t work across the board.

That’s why companies need eCommerce support that caters to their unique needs if they’re hoping to level up their eCommerce game. Logiq is a holistic eCommerce platform that provides versatile services, which can help companies worldwide.

In this rapidly growing space, Logiq helps businesses better understand their audience, gather insight into the techniques that best serve them and ultimately gain their rightful piece of the pie.

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Copper’s Essential Role in Protecting Public Health

Copper can kill up to 99.9% of bacteria on surfaces within two hours of exposure and slow the spread of diseases.

Published

1 day ago

December 7, 2021

Copper’s Essential Role in Protecting Public Health

Every day, high-touch surfaces present health risks to people in public spaces, and especially the most vulnerable in healthcare. In fact, of every 100 hospitalized patients at any given time, seven will get at least one healthcare-acquired or “hospital infection”.

With naturally antimicrobial properties, copper can kill up to 99.9% of bacteria on surfaces within two hours of exposure and slow the spread of diseases.

In this infographic from our sponsor Teck, we explore copper’s bacteria-fighting abilities and its crucial role in public health.

How Copper Kills Bacteria

Due to its powerful antimicrobial properties, copper kills bacteria in sequential steps:

First, copper ions on the surface are recognized by the bacteria as an essential nutrient and enter cell.
Then, a lethal dose of copper ions interferes with normal cell functions.
Finally, the copper binds to the enzymes, impeding the cell from breathing, eating, digesting, or creating energy.

This rapid killing mechanism prevents cells from replicating on copper surfaces and significantly reduces the amount of bacteria living on the surface.

Antimicrobial copper is effective against bacteria that causes common diseases like staph infections and E. coli that causes foodborne illness. The metal continuously kills bacteria and never wears out.

Besides bacteria, researchers are currently studying copper’s impacts on the virus that causes COVID-19. A previous study suggested that SARS-CoV-2 was completely destroyed within four hours on copper surfaces, as compared to 24 hours on cardboard, and up to three days on plastic and stainless steel. Pre-pandemic studies also demonstrated copper’s ability to kill other coronaviruses.

The Applications of Antimicrobial Copper

Institutions around the world have already deployed antimicrobial copper solutions relating to hospitals, fitness centers, mass transit systems, schools, professional sports teams, office buildings, restaurants, and more.

To date, antimicrobial copper has been installed in more than 300 healthcare facilities around the world. Taking the reduced costs of shorter patient stay and treatment into consideration, the payback time for installing copper fittings is only two months, according to an independent study by the University of York’s Health Economics Consortium.

In Canada, Teck has worked with its partners to install antimicrobial copper coatings on high-touch surfaces in hospitals, educational buildings and transit.

The Stanley Cup champions Los Angeles Kings have installed antimicrobial copper surfaces in their strength and training facility in California. Furthermore, over 50 water bottle filling stations made from antimicrobial copper can also be found throughout the Hartsfield-Jackson International Airport in Atlanta.

Copper’s Role in Public Health

While many hospitals and other institutions are already using copper fittings, others are still not aware of its impactful properties.

As awareness increases, copper can become a simple but effective material to help control the spread of infections.

Visualizing the Rise of mCommerce

mCommerce is taking up an increasingly larger portion of the global eCommerce market, as cellphones become virtually ubiquitous worldwide.

Published

2 days ago

December 6, 2021

Visualizing the Rise of mCommerce

Cellphones are becoming increasingly more prevalent across the globe. In fact, as of 2021, there are more mobile connections than people on the planet.

Because of this, the mobile commerce (mCommerce) market is expanding fast. By 2025, mCommerce is expected to double its share of U.S. retail sales.

This graphic from Logiq provides a snapshot of the mCommerce landscape, and how companies can capitalize on this rapidly changing retail environment.

The Three Types of mCommerce

First things first—what exactly is mCommerce? It’s essentially any financial transaction done on a mobile device. There are three main types:

Mobile Shopping: eCommerce that’s optimized for mobile. This includes dedicated shopping apps, websites designed for mobile use, and even social media platforms that have built-in shopping features.
Mobile Banking: Like online banking, but usually in the form of a dedicated mobile banking app that allows for on-the-go access to your accounts.
Mobile Payments: This includes mobile wallets, contactless payments, money transfers and mobile point-of-sale.

In other words, mCommerce is a branch of eCommerce that allows people to buy and sell goods from almost anywhere with a mobile connection.

Mapping Out the Market

mCommerce has captured a significant portion of global eCommerce sales. As of May 2021, it makes up 65% of total retail eCommerce sales worldwide.

But some regions are adopting it faster than others. In Asia-Pacific, 79.7% of the region’s total eCommerce sales are done via mobile.

Region	% of total retail eCommerce sales
Asia-Pacific	79.7%
Middle East & Africa	65.0%
Southeast Asia	63.5%
Latin America	48.8%
Western Europe	45.5%
Central & Eastern Europe	38.9%
North America	38.2%

Why is mCommerce so widespread in Asia-Pacific? One reason could be the region’s relatively young (and tech-savvy) population—people aged 15 to 24 make up 19% of its overall population.

This, along with Asia-Pacific’s high levels of wealth and its general digital competitiveness—especially in China—could help explain why mCommerce has taken off so quickly in the region.

While each region’s mCommerce market looks slightly different, growth is expected across the globe. In the next five years, the global mCommerce market is expected to grow to $2.7 trillion, at a CAGR of roughly 34%.

The Pros and Cons

There are a number of positive impacts, along with some challenges, that arise as a result of mCommerce’s increasing prevalence.

A big positive impact is its convenience. Mobile shopping gives consumers access to on-demand shopping that they can tap into anywhere, so long as there’s a mobile connection.

It also helps create a frictionless shopping experience. For example, thanks to mobile wallets, customers don’t even have to type out their credit card details to purchase something—it’s just a click away.

That being said, its rapid growth also means that businesses need to consider ways to optimize for mobile. Like eCommerce, innovation in the mCommerce landscape is fast and ever-evolving, which means that companies need to remain agile so they don’t get left behind.

How Businesses Can Adapt

Despite these challenges, mCommerce is expected to keep growing, and businesses will need to cater to this market if they want to remain competitive.

Logiq can help companies navigate through this ever-changing landscape. It allows businesses to plan and execute multi-channel strategies, and provides data analytics to help track progress.

To learn more about Logiq’s offerings, click here.