Online retail sales to hit $2.5 trillion in Asia by 2024


Source: investmentguruindia.com investmentguruindia.com

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Riding on the surge in grocery demand in the Covid-19 times, online retail sales in Asia will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024, with a compound annual growth rate (CAGR) of 11.3 per cent, a new Forrester report said on Friday. Due to the pandemic, adoption of online grocery is getting a boost, with an expected CAGR growth of 30 per cent during the forecast period and online penetration doubling from 5.1 per cent in 2020 to 10.6 per cent in 2024. "Grocery is the largest retail category, accounting for 35 per cent of total...