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Business News of Tuesday, 5 July 2022

Source: aviationghana.com

Quarter of world’s population shopped online during COVID-19 pandemic - Report

Over two billion people shopped online Over two billion people shopped online

Over two billion people shopped online, which is more than a quarter of the world’s population, during the height of the COVID-19 pandemic in 2021, the latest International Air Transport Association (IATA) Air Cargo tracker has shown.

During the pandemic, air cargo was the only means of transport for the three most needed commodities worldwide: vaccines, protective equipment, and e-commerce.

As demand for transport grew, air cargo became a lifeline for governments and society, changing the perceptions of the industry forever.

Cross-border e-commerce sales are estimated to reach 1.9 trillion dollars in 2022 and 2.1 trillion dollars in 2023, a 13% increase in a single year.

Air cargo is an essential component of cross-border e-commerce. E-Commerce has revolutionized the way we do logistics.

With online businesses and consumers requesting fast deliveries, operating models had to evolve to speed up transportation.

Air cargo is naturally suited for this logistic challenge: IATA estimates 80% of cross-border e-commerce is transported by air.

The global pandemic has changed the world. The ban on social gatherings, the closing of stores, restaurants, grocery shops, gardening centers, theatres, and concerts have led consumers to live their lives online, including shopping.

The pandemic has had a major impact on consumer behavior, increasing online purchases.

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