What: According to Boston Consulting Group, e-commerce is projected to account for 41% of global retail sales by 2027, a substantial increase from its 18% share in 2017.

Why it is important: The study highlights the lasting transformation in the e-commerce landscape due to the COVID-19 pandemic, with increasing rivalry between emerging entrants and established incumbents.

BCG's report, "Winning Formulas for E-Commerce Growth," is based on a global survey of 410 retail companies and 415 consumer packaged goods (CPG) companies, encompassing revenues ranging from USD 50 million to over USD 10 billion.

In 2022, e-commerce sales in Europe increased by 3%, while the US and Asia saw a 7% growth. The global e-commerce market is anticipated to achieve a compound annual growth rate of 9% through 2027, doubling the projected growth of physical stores, which is expected to be only 4%.

E-commerce to be 41% of global retail sales by 2027 says BCG