As of 2020, the world economy had to face and cope with serious crises, due to the COVID-19 pandemic. As we at Insider Monkey have reported several times this year, the global economic outlook is pretty uncertain. Although global economic growth has slowed down, it has remained positive, while consumer spending declined, inflation rates in countries stayed at a lower level. In order to make clear what’s happening in the world of the online websites, let’s check out the position of the major markets in the last two years.
As for the US market, we can see the US economy slowed down in 2019. While the real GDP of 2018 was up by 2.9%, in the year of 2019 it rose by 2.3%. The main reason was less net exports and lower investment, despite consumer spending being consistent in general. In 2020, financial reports show retail sales have recently fallen off, and spending on durable consumer goods declined in October. This means further risks of a slowdown for US economy, which can result in a decelerating of the global economy and fierce trade wars. The Eurozone economy could hardly evade recession in the last two quarters of 2019 due to decelerating of the German economy, and a decline in Italy. However, consumer spending extended Germany struggled with weak investment and lower exports. At the same time, France could account slight growth, due to stronger domestic demands and higher exports of consumer goods. Without a shadow of a doubt, Britain’s economy is weak due to the hit caused by Brexit and the global economical uncertainty. All this resulted in lower investments, crowned by the pandemic, and situation doesn’t seem to have a chance to improve much in early of 2021, either. China’s growth slowed down in 2019, and its real GDP growth was at 6.1%, the lowest growth rate of the country in the last decade. Despite the pandemic breakout in Wuhan, if we think China is badly beaten by the negative impacts of the crises, we are obviously wrong – as you can read in 10 best Chinese stocks to buy now, as China is the only country among large economies that reports positive growth in 2020.
As for Japan, we can observe contradiction according to real GDP. Although due to the ageing population the economy’s growth slowed down, yet GDP per capita has increased. Despite a modest economical accelerating, Japanese market also slowed down in 2019, because of trade conflicts with China. You can have more information about Japan in the article of top 20 companies in Japan 2021. Economy in India has been decelerated both domestically and globally in the recent times, and the question is that if they have managed to balance it out. You can also gain valuable information about India, by reading Top 15 best online shopping websites in India. When it comes to Asia, the biggest impact on supply chains in Asia was the disruption of global trade. This resulted in significantly slower growth in Taiwan, South Korea and the vast majority of Southeast Asia. Regarding to Latin America, we can see unexpected unrest, in countries such as Chile and Columbia. Economies in Latin America saw weak investment for the whole of the year in 2019, although moderate growth is predicted for 2020.
Consequently, all these aforementioned circumstances influenced the revenues of the top shopping online websites in the world in 2020. In order to get the proper and up-to-date information and data, we consulted Deloitte’s Global Powers of Retailing 2020. At first, we sorted out those websites, whose dominant operational format was ‘non-store’, then we added up those companies, which have significant web traffic, such as Wal-Mart (NYSE:WMT), Lowe’s Companies (NYSE:LOW), Home Depot Inc (NYSE:HD) etc. Naturally, this list contain the largest sites, such as AMAZON (NASDAQ:AMZN).
And now, without a further ado let’s see the top 15 online shopping websites in the world in 2020, starting with number 15: