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Amazon is the platform your company must be in order to build an online global brand and benefit from international sales, especially in a post-pandemic world where everybody purchases online. According to BusinessInsider.com forecast eCommerce trends, it is predicted that Amazon will beat revenue and sales expectations in 2021 too.
- Amazon sales blew past pre-pandemic expectations for 2020. Before the pandemic, we estimated that Amazon’s US sales would grow 17.2% to reach $260.86 billion in 2020. Instead, they grew 44.1%, reaching $318.41 billion.
- In line with overall eCommerce trends, Amazon’s US sales growth was higher than expected in 2020 across every category. The largest upward revisions were to food/beverage, which grew 78.5% in 2020, compared with our pre-pandemic estimate of 22.7%. “Other”—driven by increased demand for home improvement products—grew 58.0%, compared with our pre-pandemic estimate of 18.7%.
- It will beat total sales expectations again in 2021. Our pre-pandemic estimates had Amazon growing 15.9% to $302.36 billion this year. We now expect it’ll grow 15.3%, reaching $367.19 billion, an upward revision of more than $64 billion.
Specifically in Southeast Asia:
- Vietnam’s cross-border e-commerce has the highest growth globally with 35% YoY, reaching 33 billion USD in 2050 and local e-commerce growth rate is predicted to reach an average of 29% annually throughout 2020 – 2025 period, with the local online market size anticipated to be $52 billion in 2025.
- Thailand’s online retail market accounted for 8% of total retail sales in 2020, which means there is still room to grow. The online retail market in China contributes 27% of total sales which means the local online retail market can double or even triple in the next few years as brands move towards digital with an increase in customer touchpoints.
Still not convinced? Read one of our clients’ Amazon Seller Account Management case study here.
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