Today, e-commerce has made it easy to shop online for anything. The convenience of never leaving the comfort of your home is unmatched!
Wondering how fast global e-commerce sales are growing? Look no further! This article provides comprehensive insights into the topic, including all the important statistics about e-commerce sales growth.
Global E-commerce Sales Growth In 2024
According to the latest eMarketers report, the e-commerce industry is expected to witness a significant surge in sales in the next few years.
Global e-commerce sales are projected to increase by 8.9% by the end of 2023, reaching a total of $5.9 trillion in e-commerce sales worldwide.
The reason for this growth is attributed to the increasing number of people adopting online shopping as a preferred method of purchasing products or services.
Global E-Commerce Sales Growth From 2021 to 2026.
According to eMarketers, In 2022, the growth rate of global e-commerce sales was 7.1%, totaling $5.4 trillion in e-commerce sales worldwide.
![Global e-Commerce Sales Growth - Infographic Global e-Commerce Sales Growth - Infographic](https://growthdevil.com/wp-content/uploads/2023/06/Global-e-Commerce-Sales-Growth-Infographic.png)
Industry experts predict that the growth rate for global e-commerce sales is expected to be 9.4% by the end of 2024, which is 0.5% higher than the rate in 2023. The report also forecasts that global e-commerce sales will reach $6.5 trillion in 2024.
Here is a complete breakdown of the global e-commerce sales growth rate from 2021 to 2026, which will help you understand the topic more easily.
Year | The Global E-commerce Sales Growth Rate |
2021 | 16.8% |
2022 | 7.1% |
2023 | 8.9% |
2024* | 9.4% |
2025* | 8.8% |
2026* | 8.1% |
*Projected
According to the table above, the growth rate of e-commerce sales is expected to decline after 2024. It is projected to be 8.8% in 2025, less than 0.5% compared to 2024.
However, e-commerce sales are expected to increase in 2025, reaching $7 trillion.
Here is a breakdown of global e-commerce sales from 2021 to 2026. This information will help you understand the sales and sales growth in e-commerce during this time.
Year | The Global E-commerce Sales |
2021 | $5.1 trillion |
2022 | $5.4 trillion |
2023 | $5.9 trillion |
2024* | $6.5 trillion |
2025* | $7 trillion |
2026* | $7.6 trillion |
*Projected
But here, another study shows some different figures than Oberlo’s study. Let’s have a look at it.
According to a study by Statista, global retail e-commerce sales reached $6.3 trillion in 2023, up from $5.7 trillion in 2022.
Here is a comprehensive overview of Statista’s study on worldwide e-commerce retail sales from 2017 to 2026.
Year | Retail E-commerce Sales Worldwide |
2017 | $2.38 trillion |
2018 | $2.98 trillion |
2019 | $3.35 trillion |
2020 | $4.24 trillion |
2021 | $5.21 trillion |
2022 | $5.71 trillion |
2023 | $6.31 trillion |
2024* | $6.91 trillion |
2025* | $7.52 trillion |
2026* | $8.14 trillion |
*Projected
Despite decreasing growth rates, e-commerce sales will continue to increase steadily from 2023 to 2026.
As more people become comfortable with online shopping and as technology continues to improve, it is expected that e-commerce sales will continue to thrive in the future.
Global E-Commerce Sales Growth By Region
The United States is leading the way when it comes to contributing to e-commerce growth. This translates to a doubling of e-commerce sales in the United States by 2025, from $907.9 billion in 2022 to $1.4 trillion in 2025.
In Europe, the growth rate is expected to be slightly slower at 47%. China, which has the highest e-commerce sales, is projected to see a 15% growth in its online retail sector during this period.
![](https://growthdevil.com/wp-content/uploads/2023/06/By-Region-1024x1024.png)
Analysts attribute the relatively slower rate in China to the fact that the country experienced its peak in online shopping growth during previous years.
Here is a table showing the e-commerce sales growth of some regions.
Region | E-Commerce Sales Growth Rate |
The United States | 50% |
Europe | 47% |
China | 15% |
Rest of the World | 52% |
However, an alternative study presents differing insights from the earlier study regarding the growth rate of e-commerce sales by region.
Let’s delve into this other study.
As per eMarketers, Southeast Asia is expected to exhibit the highest growth rate in e-commerce sales, reaching 18.6% by 2023. Following Southeast Asia is the Middle East and Africa region, with a growth rate of 16%.
Here is a table showing the e-commerce growth rates by region as of 2023.
Region | Retail E-Commerce Sales Growth Rate |
Southeast Asia | 18.6% |
Middle East and Africa | 16% |
Latin America | 12.7% |
Central And Eastern Africa | 10.3% |
North America | 10.2% |
Asia-Pacific | 8.8% |
Western Europe | 4.8% |
According to the same study, the Philippines has the world’s highest e-commerce sales growth rate as of 2023, with 24.1%. India and Indonesia followed the Philippines, with 24.1% and a growth rate of 20%, respectively.
The five countries with the highest e-commerce sales growth rates worldwide are in Asia. These countries are the Philippines, India, Indonesia, Malaysia, and Thailand.
Here is an insight into the top 10 countries with e-commerce sales rate growth.
Top Countries | Retail E-Commerce Sales Growth Rates |
Philippines | 24.1% |
India | 22.3% |
Indonesia | 20% |
Malaysia | 18% |
Thailand | 16% |
Mexico | 14.2% |
Argentina | 14% |
Vietnam | 12.5% |
South Korea | 10.6% |
The United States | 10.5% |
E-Commerce Sales By Country
This section will explore which country has the highest e-commerce sales worldwide. Without further delay, let’s dive in.
China generates the most e-commerce sales globally, with over $3 trillion in sales as of 2023. That means more than 50% of global e-commerce sales come from China.
China is followed by the United States, with $1,163.49 billion. Here is a table showing the complete insights into it.
Top Countries | E-Commerce Sales |
China | $3,023.66 billion |
The United States | $1,163.49 billion |
The United Kingdom | $195.97 billion |
Japan | $193.42 billion |
South Korea | $147.43 billion |
India | $118.9 billion |
Germany | $97.32 billion |
Indonesia | $97.14 billion |
Canada | $82.81 billion |
France | $79.36 billion |
These are the top 10 countries that generate the most e-commerce sales worldwide as of 2023.
The COVID-19 Impact On Global E-commerce Sales Growth
Have you noticed something? When examining the growth rates of e-commerce sales from 2021 to 2026, which year did e-commerce sales growth peak?
In 2021, the growth rates for e-commerce globally reached 16.80%. This was the most significant year-over-year increase that analysts predict between 2021 to 2026 and can be attributed to the coronavirus pandemic.
The COVID-19 outbreak necessitated strict global lockdowns by governments, leading to the closure of brick-and-mortar stores and consumers needing to stay home.
As a result, online retail saw a surge in growth, with people turning to the internet for their shopping needs.
In 2022, most countries relaxed their COVID-19 restrictions, and consumers returned to physical stores to enjoy the benefits of in-store shopping. Consequently, online retail growth rates are down relatively.
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FAQs
After the surge of the COVID-19 Pandemic, the world went into lockdown, and people started online shopping. As a result 2021, the e-commerce sales growth rate was 16.8%, the highest.
According to projections, the ecommerce market will generate $4.11 trillion by the end of 2023. This represents an estimated annual growth rate of 11.51% from 2023 to 2027, expected to result in a total market volume of $6.35 trillion by 2027.
In the United States, the e-commerce industry will generate $1,011 billion by the end of 2023. Today, The United States ranks second in e-commerce market in the world.
Online grocery and food delivery is experiencing the most rapid growth in the e-commerce industry. This trend has been fueled by the global pandemic and a shift in consumer behavior, as more people opt for the convenience of ordering groceries, meals, and other food items.
The United Kingdom spends the most on e-commerce, with $4,201 per capita. The United States and South Korea follow the United Kingdom, with $3,428 and $2,591 in e-commerce spending per capita, respectively.
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