BRICS stack up in e-commerce

Brazil, Russia, India, China and South Africa, otherwise known as BRICS, are the leaders in e-commerce, according to a new report from AliResearch.

In 2016, these five countries recorded 720 million online shoppers collectively, the equivalent of 47% of the global total. Online retail sales in BRICS countries generated USD$876 billion, accounting for 47% of global online retail sales.

The study, which was released by AliResearch, an affiliate of Chinese e-commerce giant Alibaba, predicts that these figures will skyrocket by 2022, with online sales to grow by a massive 242% to reach USD$3 trillion, contributing to 59% of the world total.

 

Furthermore, the number of online shoppers will also increase dramatically, expected to reach 1.35 billion, the equivalent of 61% of global online shoppers. Cross-border online retail will hit USD$553.6 billion, a whopping 501% increase from 2016.
 
 
Out of the five BRICS countries, China is by far the world’s largest online retail market, while cross-border e-commerce is one of Russia’s biggest economic drivers. India is paving the way with mobile, while Brazil and South Africa show rapidly increasing growth rate.
Consumer goods is the most popular category for imports, with the report citing examples of the success of Brazil’s Havaianas flip flops and South Africa’s Bio-Oil.