Global retail sales to touch $22 trillion in 2016: Emarketer

In a new report titled ‘Worldwide Retail Ecommerce Sales’, market research agency Emarketer has forecast that total retail sales across the world will touch $22.049 trillion, an increase of 6.0 per cent over the previous year. And although, even as annual growth rates slow over the next few years, Emarketer estimates sales will top $27 trillion in 2020.

Emarketer includes sales across all retail channels, which includes sales from online retailers and sales that take place in consumer-to-consumer (C2C) platforms such as Ebay and other auction sites; and sales by motor vehicle and parts dealers and by gas stations.

However, the market research agency excludes travel, event ticket and restaurant sales from its forecast of total retail sales.

According to the agency, retail online sales, which include products and services, except travel, restaurant and event ticket sales will reach $1.915 trillion in 2016, accounting for 8.7 per cent of worldwide overall retail spending.

The report also forecasts retail ecommerce sales will rise to $4.058 trillion in 2020, making up 14.6 per cent of total retail spending in that year.

Emarketer said it has reduced its forecast for overall retail sales since its prior estimate in December 2015, primarily from low oil prices and negative currency effects.

“The US dollar has risen against most major currencies, and as a result the value of overall retail sales denominated in US dollars is down across all markets in Emarketer’s forecast,” the agency said.