The global e-commerce market in the consumer goods industry is valued at $355 billion in 2022. The market is expected to grow at a CAGR of more than 9% during the forecast period. As online shopping evolves to provide more nuanced solutions, brands and manufacturers will need to understand the changes in consumer online shopping behaviors. Online engagement intended to drive e-commerce purchases is becoming more sophisticated as consumer interactions increasingly include a wider range of digital tools and elements.
E-commerce has proved to be a vital route to market during the pandemic and has acted as a workaround to many supply chain and distribution challenges. The pivot made by many businesses to provide more online solutions has accelerated online sales growth beyond all predictions in the last couple of years. This has forced a change in strategy for many organizations and, when brand and investment plans are reviewed, businesses will need to appreciate both the challenges and the benefits that e-commerce will provide in the future.
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The global diamond reserves were found to be 1.4 billion carats (Bct) as of January 2021. More than 85% of these are located across Russia, Botswana, the DRC and South Africa. In the past couple of years, Australia has lost its number one spot in terms of diamond reserves to Russia, owing to depleting ore reserves and closures.
The global rough diamond production is expected to recover by 1.4%, to reach 112.99 million carats (Mct), in 2021, after registering an estimated 19% decline in 2020. With potential diamond mines, Botswana, Canada and the DRC are also expected to remain prominent suppliers of rough diamonds to global markets. In contrast, production will completely cease in Australia, owing to the closure of the Argyle mine, which closed in November 2020.
As the country prepares to host football’s Fifa World Cup in 2022, Qatar’s construction market has faced two key challenges over the past five years. These are the economic headwinds of lower energy prices, as well as restrictions on trade with Saudi Arabia, the UAE, Bahrain, and Egypt. When the trade restrictions began in June 2017, there were concerns that construction activity would grind to a halt as it would be cut off from its existing supply chain. Ultimately, these concerns were short-lived, and construction, as well as the economy in general, managed to establish new supplies from markets that remained open to trade. The market is currently dominated by local contractors that have grown with the market and benefitted from the recent absence of regional competition from the UAE and Saudi Arabia, and to a lesser extent Egypt and Bahrain.
As the market completes projects ahead of the World Cup 2022, there are concerns about what will keep the construction industry busy beyond 2022. While there is still a drop-off in activity expected during and immediately after the event, there is growing visibility on what the longer-term projects will be.
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