People are becoming more confident in purchasing online.

In 2019, according to the INSTAT, people in the European Union aged between 16 and 74 made 4% more online purchases compared to the previous year. Related to 2009, however, the share of online buyers has almost doubled. 

Data source: isoc_ec_ibuy  

Furthermore, in 2020, further growth has developed in the purchase and sale of online products.  

In fact, as a consequence of the pandemic and the following lockdowns applied worldwide, more and more people are relying on e-commerce to purchase their products.  

The eCommerce market has experienced unprecedented growth after the Coronavirus spread. The pandemic has expedited the change towards digitalization and initiated shifts in online shopping behaviors that will never go back to the previous state.  

The survey conducted by UNCTAD and Netcomm Suisse eCommerce Association, in collaboration with the Brazilian Network Information Center (NIC.br) and Inveon, shows that online purchases have increased by 6 to 10 percentage points across most product categories. See the graphic below. 

 Source: UNCTAD and NetComm Suisse eCommerce Association 

Another data taken into consideration concerns the growth of the largest eCommerce platform in the world. Amazon's market capitalization at the start of the year was $920 billion. The eCommerce company already achieved a return of $570 billion so far in 2020, and Besoz's company is now worth $1.49 trillion.   

In line with what happened with Amazon is what the South American market reported.  

MercadoLibre Inc., Latin America's largest e-commerce marketplace, said it listed 1.7 million new customers from February 24 to March 22, up 28% from the same period a year earlier, as reported by Bloomberg.  

A different trend has been registered indeed for the other Big-tech of the eCommerce sector. Alibaba in China saw how its sales dropped in March for the whole month as a consequence of the lockdown. Then, they started recovering at the begging of April. 

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Russia's online market had a similar reaction as China did to the pandemic. At the beginning of the lockdown period, consumers were very cautious, but gradually sales took off. The eCommerce client base in Russia increased by 37% and 11%, or 17mn and 11mn people respectively, in April and May 2020 from 46mn clients in early 2020, VTB Capital (VTBC) reported on June 25.  

In general, there has been a net increase in online purchases around the world. Even if it has occurred in conjunction with a global economic crisis and, therefore a decrease in general spending by citizens. 

In conclusion, we can say with certainty that the conditions derived from the virus benefited the development of the online market.  

On the side of the consumers, they are now more encouraged to buy online to avoid any physical contact in stores. On the other side, entrepreneurs have seen online sales as a possible answer to counter the deep market crisis induced by the pandemic.  

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