GITNUX MARKETDATA REPORT 2024

Must-Know Ecommerce Growth Statistics [Latest Report]

Highlights: The Most Important Ecommerce Growth Statistics

  • In 2020, the eCommerce market grew by 27.6% globally, reaching $4.28 trillion USD in sales.
  • By 2023, it is projected that 22% of global retail sales will be made through eCommerce.
  • Businesses worldwide are expected to spend $1 trillion on eCommerce technology by 2022.
  • By 2024, global eCommerce is predicted to account for 21.8% of total retail sales.
  • In Q4 of 2020, mobile eCommerce accounted for 72.9% of online sales worldwide.
  • In a 2021 study, eCommerce increased by approximately 12% year-over-year in Latin America.
  • UK online spending grew by 19.2% in 2020 and reached £105 billion ($139 billion).
  • B2B eCommerce is estimated to grow at a 17.5% compound annual growth rate (CAGR) from 2020 to 2027.
  • The fashion industry experienced a 33% increase in online revenue in 2020.
  • E-commerce sales in India reached $38.5 billion in 2017 and are projected to surpass $200 billion by 2026.
  • Crossborder eCommerce sales worldwide are projected to reach $736 billion by 2023.
  • In Australia, it is predicted that eCommerce will account for 15.5% of retail sales by 2025.
  • China’s eCommerce market will surpass $3 trillion by 2024.
  • Global eCommerce on social media platforms is predicted to reach $1660.14 billion by 2028.
  • Around 800,000 online stores operate on Shopify, with the platform generating over $100 billion in total sales.
  • In 2020, the top 100 marketplaces worldwide generated $3.1 trillion in gross merchandise value (GMV).
  • Online food and grocery sales are expected to surpass $100 billion in the US by 2022.
  • In 2019, the global beauty and personal care eCommerce market amounted to $36.20 billion, and it is projected to reach $128.29 billion by 2030.

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The eCommerce industry has seen tremendous growth in recent years, with global sales reaching $4.28 trillion USD in 2020 and projected to reach over $5 trillion by 2021. This remarkable growth is driven by a variety of factors such as the increasing use of mobile devices for online shopping, rising consumer confidence in digital payments, and more businesses embracing eCommerce technology. In this blog post we will explore some key statistics that illustrate the current state of the eCommerce market worldwide including total retail sales figures, projections for future growth rates, regional trends across different countries and industries like fashion or food & grocery delivery services. We’ll also look at how B2B commerce is evolving alongside B2C models as well as cross-border trade opportunities enabled through social media platforms. So let’s dive into these fascinating numbers.

The Most Important Statistics
In 2020, the eCommerce market grew by 27.6% globally, reaching $4.28 trillion USD in sales.

This statistic is a testament to the incredible growth of the eCommerce market in 2020, demonstrating the immense potential of the industry. It highlights the fact that eCommerce is a rapidly expanding sector, with sales reaching an unprecedented level of $4.28 trillion USD. This is an invaluable insight for anyone interested in the eCommerce industry, as it provides a clear indication of the potential for success in the sector.

By 2023, it is projected that 22% of global retail sales will be made through eCommerce.

This statistic is a testament to the incredible growth of eCommerce in recent years. It shows that eCommerce is becoming an increasingly important part of the global retail landscape, and that businesses need to be aware of the opportunities that this presents. By 2023, nearly a quarter of all retail sales will be made through eCommerce, making it essential for businesses to understand the trends and strategies that will help them succeed in this rapidly growing market.

Ecommerce Growth Statistics Overview

Businesses worldwide are expected to spend $1 trillion on eCommerce technology by 2022.

This statistic is a testament to the immense growth of eCommerce technology in the coming years. It shows that businesses are investing heavily in this technology, which is a clear indication of its potential to revolutionize the way we shop and do business. This statistic is a powerful reminder of the immense opportunities that eCommerce presents, and it serves as a reminder of the importance of staying ahead of the curve when it comes to eCommerce technology.

By 2024, global eCommerce is predicted to account for 21.8% of total retail sales.

This statistic is a powerful indicator of the immense growth of eCommerce in the coming years. It shows that eCommerce is on track to become a major player in the retail industry, with a projected share of total retail sales of nearly 22%. This is a remarkable achievement, and one that should be celebrated by those in the eCommerce industry. It also serves as a reminder of the importance of staying ahead of the curve when it comes to eCommerce trends and technologies.

In Q4 of 2020, mobile eCommerce accounted for 72.9% of online sales worldwide.

This statistic is a testament to the immense growth of mobile eCommerce in recent years. It highlights the fact that more and more people are turning to their phones to make purchases, and that businesses need to be aware of this trend and adjust their strategies accordingly. It is a clear indication that eCommerce is continuing to grow and evolve, and that businesses need to stay ahead of the curve in order to remain competitive.

In a 2021 study, eCommerce increased by approximately 12% year-over-year in Latin America.

This statistic is a testament to the growing popularity of eCommerce in Latin America. It shows that more and more people are turning to online shopping as a convenient and cost-effective way to purchase goods and services. This trend is likely to continue in the coming years, making eCommerce an increasingly important part of the Latin American economy.

UK online spending grew by 19.2% in 2020 and reached £105 billion ($139 billion).

The staggering statistic of UK online spending growing by 19.2% in 2020 and reaching £105 billion ($139 billion) is a testament to the immense growth of ecommerce in the UK. This remarkable increase in online spending is indicative of the increasing reliance on digital platforms for shopping, and the potential for further growth in the ecommerce sector.

B2B eCommerce is estimated to grow at a 17.5% compound annual growth rate (CAGR) from 2020 to 2027.

This statistic is a testament to the potential of B2B eCommerce, indicating that it is set to experience a significant surge in growth over the next seven years. It is a key indicator of the future of eCommerce, and as such, is an essential piece of information for anyone looking to understand the current and future state of the industry.

The fashion industry experienced a 33% increase in online revenue in 2020.

This statistic is a testament to the power of ecommerce in the fashion industry. It shows that even in the midst of a global pandemic, the industry was able to adapt and thrive in the digital space. This is a great example of how businesses can use technology to their advantage and stay competitive in a rapidly changing market.

E-commerce sales in India reached $38.5 billion in 2017 and are projected to surpass $200 billion by 2026.

This statistic is a testament to the incredible growth of e-commerce in India. It shows that in just nine years, e-commerce sales have grown from $38.5 billion to a projected $200 billion. This is a remarkable achievement and speaks to the potential of e-commerce in India. It is a clear indication that e-commerce is a viable and profitable business model in India, and one that is likely to continue to grow in the coming years.

Crossborder eCommerce sales worldwide are projected to reach $736 billion by 2023.

This statistic is a testament to the immense potential of eCommerce, demonstrating that the industry is on track to reach unprecedented heights in the coming years. It is a clear indication that eCommerce is a lucrative and rapidly growing sector, and one that businesses should be paying attention to. This statistic is a powerful reminder of the immense opportunities that eCommerce presents, and serves as a reminder of the importance of staying up-to-date with the latest eCommerce growth statistics.

In Australia, it is predicted that eCommerce will account for 15.5% of retail sales by 2025.

This statistic is a powerful indicator of the potential of eCommerce in Australia. It shows that the industry is expected to grow significantly over the next few years, and that it could become a major part of the retail landscape. This is an important point to consider when discussing eCommerce growth statistics, as it provides a glimpse into the future of the industry.

China’s eCommerce market will surpass $3 trillion by 2024.

This statistic is a testament to the immense potential of the Chinese eCommerce market. It highlights the fact that the market is growing at an exponential rate and is set to become one of the largest eCommerce markets in the world. This is an important statistic to consider when discussing the growth of eCommerce, as it shows the potential for businesses to capitalize on the Chinese market.

Global eCommerce on social media platforms is predicted to reach $1660.14 billion by 2028.

This statistic is a testament to the immense potential of eCommerce on social media platforms. It highlights the fact that eCommerce is growing at an exponential rate and is set to become a major player in the global economy. This statistic is a valuable insight into the future of eCommerce and should be taken into consideration when discussing the growth of the industry.

Around 800,000 online stores operate on Shopify, with the platform generating over $100 billion in total sales.

This statistic is a testament to the success of Shopify as an ecommerce platform. It demonstrates the platform’s ability to facilitate the growth of online stores, with over 800,000 stores now operating on the platform and generating over $100 billion in total sales. This is a remarkable achievement and serves as a reminder of the potential of ecommerce to drive economic growth.

In 2020, the top 100 marketplaces worldwide generated $3.1 trillion in gross merchandise value (GMV).

This statistic is a testament to the immense growth of ecommerce in recent years. It shows that the top 100 marketplaces have seen a dramatic increase in their gross merchandise value, indicating that more and more people are turning to online shopping for their needs. This is a clear indication that ecommerce is here to stay and is only going to continue to grow in the future.

Online food and grocery sales are expected to surpass $100 billion in the US by 2022.

This statistic is a testament to the immense growth of ecommerce in the food and grocery sector. It shows that more and more people are turning to online shopping for their food and grocery needs, and that this trend is only expected to continue in the coming years. This is a clear indication that ecommerce is here to stay and that businesses should take advantage of this opportunity to reach more customers and increase their sales.

In 2019, the global beauty and personal care eCommerce market amounted to $36.20 billion, and it is projected to reach $128.29 billion by 2030.

This statistic is a testament to the incredible growth of the eCommerce beauty and personal care market. It shows that in just 11 years, the market is projected to more than triple in size, from $36.20 billion to $128.29 billion. This is a clear indication that eCommerce is becoming an increasingly important part of the beauty and personal care industry, and that businesses should be taking advantage of this trend.

Conclusion

The statistics presented in this blog post demonstrate the immense growth of eCommerce across the globe. In 2020, global eCommerce sales reached $4.28 trillion USD and are projected to reach over $5 trillion by 2021. By 2023, it is estimated that 22% of all retail sales will be made through online channels, with mobile commerce accounting for 72.9% of those transactions worldwide in Q4 2020 alone. Businesses around the world are expected to invest more than a trillion dollars into eCommerce technology by 2022 as well, while cross-border purchases could exceed $736 billion within two years’ time.

In addition to these impressive figures on an international scale, regional markets have also seen significant increases in their respective digital economies: Latin America experienced 12% year-over-year growth; UK spending grew 19%; India’s market size is predicted to surpass 200 billion; Southeast Asia should hit 300 billion; Australia may see 15%; China’s industry could top 3 trillion; social media platforms might generate 1 660 14 billion globally and Shopify has already generated 100+ billions from 800 000 stores worldwide since its launch date. Finally, beauty & personal care products sold via online channels amounted 36$20Bn last year but they’re forecasted at 128$29Bn come 2030 – which shows how much potential there still remains untapped.

It’s clear that we’ve only just begun scratching the surface when it comes to understanding what lies ahead for our ever evolving digital economy – one thing is certain though: Ecommerce isn’t going anywhere anytime soon.

References

0. – https://www.businessinsider.com

1. – https://www.statista.com

2. – https://www.grandviewresearch.com

3. – https://www.bazaarvoice.com

4. – https://www.globenewswire.com

5. – https://www.fortunebusinessinsights.com

6. – https://www.emarketer.com

7. – https://www.commonthreadco.com

8. – https://www.shopify.com

ZipDo, cited June 2023: Ecommerce Growth Statistics

FAQs

What is the average annual growth rate of global ecommerce sales?

The average annual growth rate of global ecommerce sales is around 15% to 25%.

Which region has the highest ecommerce growth rate globally?

The Asia-Pacific region, particularly China and India, currently has the highest ecommerce growth rate globally.

How much of total retail sales worldwide is attributed to ecommerce?

Ecommerce accounted for approximately 16% of total retail sales worldwide in 2020.

What are the key factors driving ecommerce growth?

Key factors driving ecommerce growth include increasing internet penetration, growing smartphone usage, improved logistics and payment infrastructure, and the rise of social media platforms as ecommerce channels.

Which ecommerce categories have experienced the highest growth during the pandemic?

During the COVID-19 pandemic, ecommerce categories such as groceries, health and wellness products, home and garden supplies, and consumer electronics have experienced the highest growth.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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