The financial data of 2020 is beginning to emerge, and with each passing day, the growth of the e-commerce sector during the COVID-19 year is becoming evident, showing increases in all parameters.
The online trading sector in the United States shrunk by 32% in 2020, reaching $790 billion, compared to $598 billion the previous year. E-commerce now represents a 14% share of all retail sales in the United States, a significant increase from 11.3% in 2019.
Over the past decade, online trading in the United States has grown by an average of 15%, compared to the previous year, relatively steadily. In 2020, the market reached total sales figures that were expected to be achieved only at the end of 2021. Therefore, the growth of the e-commerce sector reflected a two-year increase in just one year, with a growth of over 40%.
Amazon, of course, is the big winner and marketplace that secured the highest revenue share, with total sales of $250 billion. The key factor and the biggest challenge in 2020 was logistics, and Amazon, known for its excellence in this field, outperformed its competitors and quickly recovered from the logistical crisis that initially affected it at the beginning of the pandemic. It provided a proper service with 1-2 business day delivery for all products to every corner of the United States at a time when most people were confined to their homes.
Now, we must wait and see what the consequences of this leap will be in 2021, and whether the growth momentum will return to its normal pace of 15% per year, continue with a significant jump, or if we will experience a growth halt due to the anticipated return to regular routines and traditional retail landscapes.