E-commerce grew at an unprecedented rate during the pandemic, but the days of heady growth now appear short-lived. After online purchases surged 30 percent year on year in 2020 in the US and Europe, a new reality is settling in. Between 2022 and 2025, e-commerce is expected to grow at a compound annual rate of 10 percent in the US and 11 percent in Europe — much closer to pre-pandemic levels seen between 2016 and 2019, where e-commerce grew…