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eCommerce has played a lead role in the explosion of the internet. Successfully identifying and solving early pain points like delivery, shipping costs and returns made the likes of Amazon and Alibaba internet giants, driving adoption of the internet as an everyday part of life, and along the way helping eCommerce become a significant and fast growing part of global trade. In fact, so significant that it’s doubled in value in the five years to 2018, and now represents a value of $NZ3.8t globally.
But here’s the truly astonishing bit… eCommerce still has a way to go. Global spend of $NZ3.8t online in 2018 sounds impressive, but it’s still only 12% of overall retail spend. Even with the sort of accelerated growth being predicted, online’s total share of retail will still be well below 20% by 2021 (rising from 10.2% in 2017 to 17.5% by 2021). There’s plenty of room to grow…So, what about New Zealand? Well, we’re actually in a good place. We spent $3.6b on physical products online last year, up from $3.2b the year before. And eighteen years after the launch of eCommerce pioneer Trade Me, 8.1% of all retail spend in New Zealand is online (up from 7.3% the year before).
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