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According to an October forecast by Smart Insights, global retail had been initially projected to expand by 4.4 percent in 2020, but this estimate was revised to 18.4 percent as the current health crisis sent e-commerce sales soaring. Moreover, e-commerce retail sales now account for almost 30 percent of all retail in the UK and 16 percent of sales in the U.S. — reaching record numbers in 2020.
This growth has been seen across practically all verticals, with the food, home, beauty, and electronics sectors, in particular, seeing striking growth this year. And with the world continuing to embrace digital technology and more than 2 billion