JUMORE Reviews: E-commerce sets to thrive in BRICS countries

E-commerce is set to prosper among the BRICS countries and become a major fabric connecting their nationals, according to the latest report by Alibaba Group Holding Ltd. By 2022, gross merchandise volume generated via online shopping portals will skyrocket 340 percent from last year to reach $3 trillion in Brazil, Russia, India, China and South Africa,the report said. That figure would represent 59 percent of global e-commerce transaction value in five years, up from 41.8 percent a year ago. Meanwhile, the number of online shoppers is projected to nearly double from 720 million last year to 1.35 billion in 2022. That means an expanded share of total online shoppers from 47.2 percent to 61 percent.

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The BRICS countries, as emerging economies, have seen an unprecedented prosperity through tapping up their own development potential, and achieved abundant fruit in the areas of economic growth, trade exchange, and business investment, etc. This would necessarily lead to a huge demand for e-commerce such as online shopping of the people in those countries. In fact, the rapid development of e-commerce in BRICS countries will also significantly enhance the inter-connectivity and deepen the cooperation among them.