COVID-19 played a big role in this change
The report said, “COVID-19 was a major contributor to this change in consumer behaviour. Among the major countries, India showed the highest online share at 45%, followed by the UK at 39% and China at 34%.” According to the report, Brazil accounts for 31% of online sales, 24% in the US, 16% in South Korea and 8% in Nigeria. The report published in Mint also said that online handset sales in 2020 ( global) grew by about 6% points over the previous year, while it increased by more than 10% in terms of market size.
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US and India recorded the highest online share in the second half of 2020
This trend was strong not only in advanced markets such as the US and Europe, but also in emerging markets such as India and Latin America. In China, where the spread of COVID-19 first occurred, it peaked in the first half and softened slightly. In the second half, while the US and India recorded the highest online share share ever in the second half of 2020,” Counterpoint said. The report predicts that this trend of increasing online share will slow down for some time. And this year will be the same or a little less than last year.
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There will be some easing after COVID-19 vaccination
Sujong Lim, Senior Analyst, Counterpoint Research, said that following rapid growth in 2020, we expect 2021 to see some easing post-COVID-19 vaccination. However, it is expected to grow slightly every year from 2022 onwards, supported by growth in emerging markets and the middle-aged population becoming more accustomed to IT devices and the Internet.