- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:32 05:49 12:21 15:48 18:47 20:04
China, US will account for 55% of online retail sales this year, says eMarketer. [Image via Shutterstock]
Global retail sales are expected to witness a steady growth over the coming years, reaching Dh82.545 trillion ($22.492trn) this year and Dh103.86trn ($28.3trn) in 2018.
According to a study by eMarketer, worldwide retail sales – which includes both in-store and internet purchases – are forecast to grow by 5.5 per cent over the next few years.
Online retail sales will account for nearly 5.9 per cent – or Dh4.829trn ($1.316trn) – of the total retail market globally this year, eMarketer said, adding that its share will grow to 8.8 per cent or Dh9.175trn ($2.5trn) by 2018.
China and the US will dominate the online retail market, making up more than 55 per cent of sales this year.
It forecast that China’s retail e-commerce sales will rise from $315.75bn in 2013 to cross $1trn (Dh3.67trn) by 2018 and make up 40 per cent of the global sales. China will be followed by the US as the second largest e-commerce market with a total value of $500 billion in 2018.
Follow Emirates 24|7 on Google News.