E-commerce pulls BRICS closer
E-commerce is set to prosper among the BRICS countries and become a major link connecting their residents, according to a 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 research arm of the world's largest e-commerce platform, Alibaba, said in a report released on Tuesday. That figure would represent 59 percent of global e-commerce transaction value in five years, up from 41.8 percent a year ago, according to AliResearch. 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. Cross-border e-commerce among the five nations will also gain traction, with transaction volume predicted to jump six-fold to $553.6 billion in five years...