Stalking ecommerce

Ecommerce currently accounts for about 22% of worldwide retail sales, up from 15% in 2019. That figure excludes autos, restaurants and various services. Most of those gains were made during the pandemic when worldwide ecommerce sales grew 31% in 2020 and 19% in 2021. Companies selling financial technology to enable ecommerce benefited a lot. After the pandemic, growth normalized with ecommerce sales growing only 2% in 2022, presented a tougher environment for fintech companies in particular. In 2023, ecommerce sales growth picked back up, growing 8%, and this level of growth is forecast to continue in the coming years. By 2027, ecommerce is predicted to account for 26% of worldwide retail sales. A more stable level of ecommerce growth providers a better operating environment for fintech companies providing services to ecommerce.

Source: Euromonitor, national data sources, Morgan Stanley, April 2023.