Power Retail Sparks | Global E-Commerce News | 04.05.21

Global E-Commerce Spend Hits $4 Trillion

A new report from Digital Commerce 360 has suggested that global e-commerce spend has reached almost $4.3 trillion in 2020 – this is up from almost $3.46 trillion the year before.

While global retail sales increased by only one percent from 2019 to 2020, online sales skyrocketed 24.1 percent YoY. To put this into perspective, for every $5 spent on consumer goods last year, $1 was made online.

Every year since 2018, online penetration has increased – online made up 14.4 percent in 2018, 16.4 percent in 2019 and a whopping 20.2 percent in 2020. Unsurprisingly, the US and China made up the majority market share of the online spend globally, accounting for more than half of worldwide e-commerce sales.

In 2020 alone, the two countries made up 53.3 percent of the total e-commerce market. However, as significant as that is, this figure is actually down 1.8 percent from 2019, signifying that other countries are catching up in terms of online spend.

Klarna Launches in New Zealand

Klarna is launching in NZ, more than a year after launching in Australia. The BNPL platform is working with retailers like Cotton On Group, Hanes Group and Kookai and is also working in partnership with ASB Bank. Similarly, Klarna launched in Australia in collaboration with the Commonwealth Bank of Australia.

“Klarna is focused on elevating the shopping experience for consumers. Retail is changing at a rapid pace and more than ever, consumers demand transparent and intuitive services which better meet their needs. We know Kiwis are sophisticated online shoppers who seek convenience but are mindful of smart spending and are moving away from traditional forms of credit with interest and fees. That’s why Klarna focuses on offering innovative shopping solutions that allow consumers to take control and shop on their own terms, saving them time and eliminating hassle,” said Sebastian Siemiatkowski, the CEO and Co-Founder of Klarna.

Since the launch in Australia early last year, Klarna has garnered more than 600 retail partners and 750,000 consumers.

“We are so excited to launch in New Zealand and have a pipeline of great retailers who will be launching with us in the near future, including the Cotton On Group, Hanes Group, Kookaï and a range of other big names. Our innovative Shop Anywhere function already means you can use Klarna at virtually any retailer,” explained Fran Ereira, the Country Head of Klarna NZ and Australia.

“The response from consumers and retailers since our launch in Australia has been incredibly positive … and we’re confident New Zealanders will have a similar positive reaction. Watch this space, because we’ll also have plenty of product enhancements to introduce in the coming months. At Klarna, we are also dedicated to making sure that our products offer a positive experience for all customers and we hold ourselves to the highest of standards in that regard,” she said.

Like this story? Click here to find out more about Power Retail E-Commerce Intelligence or here to sign-up for the free weekly Pulse Newsletter for more essential online retail content.