The Latest Global Ecommerce Industry Statistics Explained
By the end of 2021, the worldwide ecommerce market was anticipated to reach USD 4.89 trillion.
The statistic ‘By the end of 2021, the worldwide ecommerce market was anticipated to reach USD 4.89 trillion’ indicates the projected total value of ecommerce transactions occurring globally in that year. This figure represents the culmination of sales made online across various platforms and industries, demonstrating the significant growth and impact of ecommerce on the global economy. The increasing adoption of digital technologies, changing consumer behavior, and the convenience of online shopping have contributed to the continuous expansion of the ecommerce market, making it a key driver of economic activity and business opportunities worldwide.
By 2025, the global ecommerce market size is expected to grow to nearly $5.05 trillion.
The statistic states that by the year 2025, the global ecommerce market is projected to expand significantly to almost $5.05 trillion in size. This indicates a rapid growth and increasing importance of ecommerce as a major economic sector worldwide. The forecast suggests that more businesses and consumers are embracing online shopping, and the ecommerce industry is expected to experience substantial growth in the coming years. Factors contributing to this growth could include increasing internet penetration, advancing technology, shifting consumer preferences towards convenience and online shopping, as well as the global reach of ecommerce platforms. This statistic highlights the potential opportunities and challenges for businesses operating in the ecommerce space, emphasizing the need for adaptability and innovation to thrive in this rapidly evolving market landscape.
In 2020, approximately 2.05 billion individuals made online purchases worldwide.
The statistic states that approximately 2.05 billion individuals worldwide made online purchases in the year 2020. This figure indicates a significant trend towards e-commerce and digital transactions, highlighting the growing popularity and accessibility of online shopping platforms across the globe. The large number of individuals engaging in online purchases also underscores the impact of technological advancements and changing consumer behavior, as people increasingly turn to the internet for their shopping needs. This statistic provides insight into the scale and reach of the online retail market, emphasizing its importance in the modern economy and demonstrating the widespread adoption of digital shopping channels by individuals around the world.
Online sales accounted for 18.3% of all retail sales globally in 2020.
This statistic indicates that online sales comprised 18.3% of the total retail sales worldwide in the year 2020. This suggests a significant and growing portion of retail transactions are conducted through e-commerce platforms rather than traditional brick-and-mortar stores. The rise of online sales can be attributed to factors such as increased internet penetration, convenience, and the shift towards digital shopping experiences, especially during the COVID-19 pandemic when many consumers turned to online shopping for safety reasons. This data underscores the importance for businesses to have a strong online presence and strategic digital marketing strategies to stay competitive in the evolving retail landscape.
It is projected that by 2023, the ecommerce retail made by mobile commerce will grow to 72.9%.
This statistic indicates that the proportion of ecommerce retail conducted through mobile devices, known as mobile commerce, is expected to increase to 72.9% by the year 2023. This suggests a significant growth trend in the usage of mobile devices for online shopping compared to other platforms like desktop or in-store purchases. The projection highlights the evolving consumer behavior towards convenient and accessible shopping experiences on mobile devices, which has been driven by advancements in technology, user-friendly interfaces, and increasing mobile device penetration. This statistic underscores the importance for businesses to optimize their online platforms for mobile commerce to effectively cater to the changing preferences and habits of consumers in the digital age.
As of 2021, Shopify, a multi-channel commerce platform is used by over 1.7 million businesses in 175 countries.
The statistic indicates that as of 2021, Shopify, a popular multi-channel commerce platform, is utilized by a substantial number of businesses worldwide, with over 1.7 million businesses across 175 countries. This figure highlights the widespread adoption and global reach of Shopify as a preferred e-commerce solution for entrepreneurs and businesses of various sizes and industries. The platform’s ability to cater to a broad array of businesses internationally demonstrates its versatility, user-friendly features, and scalability, making it a compelling choice for those seeking to establish or expand their online presence and sales channels.
Amazon, a global ecommerce giant, reported net sales of approximately 386.06 billion U.S. dollars in 2020.
The statistic that Amazon reported net sales of approximately 386.06 billion U.S. dollars in 2020 signifies the significant scale and financial success of the company as a global ecommerce leader. This figure highlights the substantial revenue generated by Amazon through its diverse range of products and services offered on its online platform. The impressive sales figure also reflects the widespread popularity and continued growth of Amazon’s business operations, demonstrating its ability to effectively capture consumer demand and drive substantial revenue year after year.
By 2022, the apparel and accessories online retail sector is expected to generate over $153 billion in revenue in the US alone.
This statistic highlights the significant growth anticipated in the online retail sector for apparel and accessories in the United States by the year 2022. With an estimated revenue of over $153 billion, it signifies a strong consumer demand for purchasing clothing and accessories through online platforms. This growth is fueled by various factors such as the convenience of online shopping, a wider range of products available, and the increased use of digital technologies for shopping. The statistic indicates a shift in consumer shopping habits towards e-commerce channels for apparel and accessories, reflecting the changing landscape of the retail industry.
In 2020, over 58% of global online shoppers reportedly made purchases from overseas retailers.
The statistic ‘In 2020, over 58% of global online shoppers reportedly made purchases from overseas retailers’ indicates that a majority of online shoppers worldwide engaged in cross-border e-commerce activities during the specified year. This suggests a growing trend of consumers exploring and purchasing products from international markets through online platforms. The high percentage of global online shoppers making overseas purchases highlights the increasing globalization of e-commerce and the willingness of consumers to access a wide range of products and services beyond their domestic borders. This statistic underscores the importance for retailers to consider cross-border strategies to tap into the potentially lucrative international online shopping market.
Fashion is the leading product category in ecommerce, accounting for more than 60% of digital sales.
The statistic “Fashion is the leading product category in ecommerce, accounting for more than 60% of digital sales” indicates that within the realm of online retail, fashion items such as clothing, accessories, and footwear are the most popular and frequently purchased products. This suggests that consumers are actively engaging in online shopping for fashion-related items more than any other product category, with fashion dominating a significant majority of digital sales compared to other products. The data highlights the significance of fashion in the ecommerce landscape, emphasizing the strong demand for clothing and accessories when it comes to online shopping behavior.
In 2018, the Asia Pacific region accounted for over 83% of global ecommerce growth.
The statistic stating that the Asia Pacific region accounted for over 83% of global ecommerce growth in 2018 suggests a significant dominance and contribution of this region to the overall expansion of the ecommerce sector worldwide during that period. This indicates a strong trend of increasing online shopping activities and digital transactions in countries within the Asia Pacific region, such as China, Japan, South Korea, and India, among others, which drove a major portion of the global growth in ecommerce during the specified year. The statistic highlights the region’s growing role as a powerhouse for ecommerce development and adoption, signaling potential opportunities and market influences that businesses and policymakers may need to consider when evaluating ecommerce strategies and investments.
The average ecommerce spending per online shopper worldwide is estimated to be $2,352 in 2021.
The statistic states that the average amount spent by each online shopper globally in the realm of ecommerce is estimated to be $2,352 in the year 2021. This figure serves as an indicator of the purchasing power and consumer behavior within the ecommerce industry on a global scale. It suggests that, on average, online shoppers are willing to spend a significant amount of money on goods and services purchased through digital platforms. This statistic is valuable for businesses, marketers, and policymakers to understand trends in online shopping habits and make informed decisions related to product offerings, pricing strategies, and market expansion efforts in the ecommerce sector.
38% of the global ecommerce market is controlled by just two ecommerce giants: Alibaba and Amazon.
This statistic suggests that a significant portion of the global ecommerce market is dominated by two major players, Alibaba and Amazon, who collectively hold a 38% market share. This level of market control indicates a high degree of concentration in the industry, with these giants exerting substantial influence over the online retail landscape. The dominance of Alibaba and Amazon underscores the competitive advantage and market power they possess in the ecommerce sector, potentially leading to implications for pricing, consumer choice, and market dynamics. As such, this statistic highlights the formidable presence and impact of these companies on the global ecommerce market.
It’s estimated that 95% of all purchases will be via ecommerce by 2040.
The statistic that 95% of all purchases will be via ecommerce by 2040 is an estimate suggesting a significant shift towards online retail compared to traditional brick-and-mortar stores over the next two decades. This prediction highlights the increasing reliance on digital platforms for shopping activities due to factors such as convenience, accessibility, and evolving shopping habits of consumers. If this trend holds true, it could have profound implications for businesses, retail strategies, and the overall landscape of commerce, emphasizing the need for companies to adapt and innovate in order to capture a substantial share of the growing ecommerce market.
The global cart abandonment rate in ecommerce is about 69.57%.
The statistic stating that the global cart abandonment rate in ecommerce is around 69.57% refers to the percentage of online shopping carts that are abandoned by customers without completing a purchase. This statistic indicates that nearly 70% of customers who add items to their online shopping carts ultimately decide not to follow through with the purchase for various reasons, such as unexpected costs at checkout, complicated checkout processes, or simply changing their minds. Understanding and addressing the factors contributing to cart abandonment is crucial for ecommerce businesses to optimize their conversion rates and improve overall sales performance.
B2B ecommerce sales are expected to reach over $6.6 trillion by 2021, outpacing B2C sales.
The statistic indicates that the business-to-business (B2B) ecommerce sector is forecasted to expand significantly, with projected sales exceeding $6.6 trillion by 2021. This growth is expected to outpace business-to-consumer (B2C) ecommerce sales, signifying a shift in the digital commerce landscape towards more substantial transactions between businesses. The increasing adoption of online platforms by businesses for procurement, sales, and supply chain management is driving this trend, with B2B companies recognizing the efficiency and convenience of ecommerce in facilitating transactions and fostering business relationships. The statistic suggests a substantial opportunity for businesses in the B2B sector to harness the potential of ecommerce and capitalize on this upward trend in online business transactions.
The global average value of shopping orders via smartphone was 79.33 U.S. dollars as of the third quarter of 2020.
The statistic indicates that, on average, the total value of shopping orders placed through smartphones worldwide was approximately 79.33 U.S. dollars during the third quarter of 2020. This suggests that consumers increasingly use smartphones for shopping, reflecting a trend towards mobile commerce. The average order value serves as a key metric for businesses to understand consumer behavior and tailor their marketing strategies and product offerings accordingly. Monitoring such statistics helps companies adapt to changing consumer preferences and optimize their online platforms for mobile shopping experiences.
China is the largest ecommerce market in the world, with its ecommerce sales hitting a high of $672 billion in 2020.
The statistic indicates that China holds the top position as the largest ecommerce market globally, with its ecommerce sales reaching a record high of $672 billion in 2020. This reflects the immense scale and economic importance of the Chinese ecommerce sector, showcasing the strong consumer demand for online shopping within the country. The significant growth in ecommerce sales also highlights the rapid digital transformation occurring in China, driven by factors such as technological innovation, widespread internet access, and changing consumer behaviors. The size and continued expansion of the Chinese ecommerce market present lucrative opportunities for businesses looking to tap into this vast online marketplace.
Approximately 63% of total ecommerce sales worldwide came from mobile commerce in 2020.
The statistic indicates that in 2020, about 63% of all ecommerce sales worldwide were generated through mobile commerce, which refers to purchasing goods and services using mobile devices such as smartphones and tablets. This data highlights the growing importance of mobile platforms in the global ecommerce landscape, as an increasing number of consumers are turning to mobile devices for their shopping needs. The rise of mobile commerce can be attributed to factors such as the widespread adoption of smartphones, convenience in shopping on-the-go, and advancements in mobile technology that have improved the overall shopping experience for users. This trend underscores the significance for businesses to optimize their online platforms for mobile use in order to capitalize on the growing mobile commerce market and reach a wider audience of digital shoppers.
By 2040, it’s estimated that up to 95% of shopping will be facilitated by ecommerce.
The statistic “By 2040, it’s estimated that up to 95% of shopping will be facilitated by ecommerce” predicts a significant shift in consumer behavior towards online shopping within the next two decades. This projection suggests that traditional brick-and-mortar retail stores will face increased competition from online platforms, emphasizing the growing importance of ecommerce in the retail industry. The trend towards ecommerce is likely driven by factors such as technological advancements, increasing internet access and usage, convenience for consumers, and the impact of events like the COVID-19 pandemic that have accelerated the adoption of online shopping. Businesses will need to adapt to this changing landscape by developing robust online strategies to remain competitive and meet the evolving preferences of consumers.
References
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