The world is becoming more digitally advanced, and so is the way we shop. Ecommerce has seen significant growth in recent years, and this trend is expected to continue in the coming years. In this blog, we will take a closer look at global Ecommerce statistics that reveal the latest trends and future projections. We will also discuss how these statistics were collected to give you a better understanding of what's going on in the industry. From the number of online shoppers to the most popular product categories, we have compiled eight essential Ecommerce statistics that every business owner should know to stay ahead of the competition. Keep reading to find out more!
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How do we collect these statistics?
This data offers valuable insights into Ecommerce growth rates, market shares, and revenue projections. Furthermore, information from Ecommerce platforms like NAMES.
7 essential global Ecommerce statistics
Let's dive into the eight essential global Ecommerce statistics that every business owner should know for 2024:
- The global ecommerce market is expected to total $6.3 trillion in 2023. That figure is estimated to grow over the next few years, showing that borderless ecommerce is becoming a profitable option for online retailers. By 2024, 21.2% of total retail sales will happen online. [Source: Shopify]
- China continues to lead in global ecommerce sales according to the International Trade Association, accounting for more than 50% of all retail sales worldwide, with total online sales just over the $3 trillion mark in 2022. [Source: Shopify]
- Online retail continues to expand due to the increasing use of smartphones and tablets globally. Mobile commerce is expected to account for 42.9% of ecommerce sales by 2024. [Source: Shopify]
- Demonstrating the vast opportunity in the ecommerce sector, there are over 26.5 million active ecommerce websites globally. [Source: Scout]
- The global ecommerce market size is expected to grow exponentially from $5.2 trillion in 2021 to about $8.1 trillion by 2026. [Source: Scout]
- The global ecommerce penetration rate is expected to hit 25% by 2027, up from 19%. [Source: Scout]
- The U.S. e-commerce market will reach over $1.1 trillion in sales in 2023. [Source: Forbes]
Conclusion
These global Ecommerce statistics highlight the immense growth and potential of the Ecommerce industry. With more people turning to online shopping, businesses must adapt and optimize their Ecommerce strategies to stay competitive. From the increasing popularity of mobile commerce to the rise of cross-border ecommerce, there are numerous opportunities for businesses to expand their reach and tap into new markets. Stay informed, stay agile, and embrace the digital transformation to thrive in the global Ecommerce market.
