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 2023
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.
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|
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|
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 2014 to 2026.
|Year||Retail E-commerce Sales Worldwide|
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.
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%|
|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|
|Middle East and Africa||16%|
|Central And Eastern Africa||10.3%|
According to the same study, the Philippines have 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 20 growth rates%, 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|
|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|
|The United States||$1,163.49 billion|
|The United Kingdom||$195.97 billion|
|South Korea||$147.43 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.
Conclusion: Global E-Commerce Sales Growth (2023)
The growth rate of e-commerce sales is projected to decrease, but global e-commerce sales will continue to grow.
The e-commerce sales industry is a trillion-dollar industry. Since the coronavirus outbreak, the e-commerce industry has seen unprecedented growth. Many people have turned to online shopping during this period.
Due to these factors, we have observed a sharp increase in global e-commerce sales and growth throughout 2021.
I hope you have found this article informative. For the latest updates, please continue to revisit this article, as we will be updating it from time to time.
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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