Online share of sales for health and beauty sector to be 16.5% by the end of 2020, globally

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August 21, 2020, 1:07 PM UTC

Edge by Ascential’s recent report predicts sales shifting to online for the health and beauty sector.

With department stores seeing -10.9% slide in growth, a shift to online sales for the health and beauty sector is expected. It is predicted to reach 16.5% by the end of 2020 worldwide and reach 23.3% by 2025, as per the report.

Alibaba with $43.2 billion in online beauty and health sales, will have the largest share in the market in 2020. However, Amazon follows closely, with its sales figure reaching to $28.8 billion.

Pinduoduo will be the third-largest player with a projected growth of $16.8 billion. With Amazon, investing in healthcare and Alibaba and adding third-party brands, ecommerce growth in the sector is expected to be the second-fastest.

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