Global eCommerce market has hiked since the COVID pandemic. However, it declined later after the removal of lockdowns across the globe.
Nevertheless, e-commerce is an ever-growing industry, and the market is expected to reach $58.74 trillion by the end of the year 2028. It is expected to grow at a CAGR of 26.55% between the predicted period of 2022 to 2028.
If you want to know more about the e-commerce market and sales, you are surely in the right place.
In the following article, we have included all the latest statistics about e-commerce sales and their growth. We have made sure to research and review all the latest facts and figures and then compiled them in the below article.
Global eCommerce Sales Growth
- Global ecommerce sales are expected to reach a total of $6.3 trillion worldwide in the year 2023.
- 2023 will see an increase of 8.9% in annual CAGR.
- The eCommerce market will see an average of 8.55% growth every year till 2027.
The following table displays the percentage of global e-commerce growth rate worldwide from the year 2021 to 2026.
|Year||Percentage Of Global E-commerce Growth Rate|
- Online purchases are expected to contribute to total global retail sales by 20.8% in the year 2023.
- Besides, online sales are expected to rise and take a larger share of retail e-commerce.
Hence, by the end of the year 2026, the world retail e-commerce sales are expected to exceed $8.1 trillion. Moreover, the overall e-commerce share of retail sales is forecasted to reach 24%.
- The Global e-commerce market is expected to hit sales of $58.74 trillion by the end of the year 2028. Besides, it is expected to grow at a CAGR of 26.55% during the forecast period between 2022 and 2028.
Global E-Commerce Sales
- In the year 2022, global e-commerce sales were expected to reach $5.8 trillion. It shows an increase of 9.7 % from the year 2021.
- China is the world’s top e-commerce market. The total e-commerce sales in the country touched the $2.68 trillion mark in the year 2022 at a CAGR of 6.1%.
- The e-commerce sales from China and the United States total more than $2.4 trillion.
The following table displays the e-commerce sales generated by countries worldwide in the year 2022.
|Country||E-Commerce Sales Generated|
|United States||875 billion|
|United Kingdom||143 billion|
|South Korea||118 billion|
Here’s an overview of eCommerce sales generated till Q3 of 2023.
|Country||Ecommerce Sales Generated|
|South Korea||147 billion|
- More than half of the ten biggest e-commerce markets are in Asia, which is the most populous continent.
Global E-Commerce Market
- Amazon.com is the top e-commerce company by market value as of 2023. Besides, Home Depot is reported to be 2nd top company with a market value of $411.02 billion.
The following table displays the market value of the top e-commerce companies around the world.
|Home Depot||$411.2 billion|
|Walmart||$ 401.91 billion|
|Alibaba Group Holding||$351.9 billion|
|Costco Wholesale||$237.76 billion|
|Reliance Industries||$220.76 billion|
|Maituan Dianping||$160.51 billion|
|Target Corporation||$110.57 billion|
Retail E-Commerce Sales Worldwide.
- In the year 2023, retail e-commerce sales worldwide are expected to amount to $6.3 trillion. Comparatively, in the year 2021, retail e-commerce sales worldwide amounted to $5.2 trillion.
Moreover, in the year 2026, retail e-commerce sales worldwide are expected to be valued at $8.14 trillion.
The following table displays the number of retail e-commerce sales generated worldwide over the years.
|Country||The Compound Annual Growth Rate Of Retail E-commerce Sales|
- The highest retail e-commerce sales compound annual growth rate is recorded in Brazil between the year 2023 to 2027. It has a growth rate of 14.63%. Besides, the second highest growth rate is recorded in Argentina. It has a 14.61% compound annual growth rate.
The following table displays the percentage of the compound annual growth rate of retail e-commerce sales in different countries worldwide.
|Country||The Compound Annual Growth Rate Of Retail E-commerce Sales.|
- E-commerce sales are expected to contribute 20% of the total retail sales worldwide in the year 2023. Besides, in the year 2020, it contributed 17.8% to the total retail sales in the year 2020.
The following table displays the percentage share contributed by e-commerce sales in the total retail sales worldwide recorded over the years.
|Year||Share Of Retail Sales Owned By E-commerce|
- The annual retail e-commerce sales growth worldwide in the year 2023 is forecasted to be 10.4%. Besides, in the year 2021, it was recorded to be 17.1%. Further, in the year 2026, the annual retail e-commerce sale is predicted to have a growth rate of 8.2%.
The following table displays the percentage of annual retail e-commerce sales growth recorded worldwide over the years.
|Year||Percentage Of Annual E-Commerce Sales Growth Rate.|
- Singapore has the fastest-growing retail e-commerce sales growth around the world. In the year 2022, it was predicted to have retail e-commerce sales growth of 36%. Besides, the second country leading worldwide with 34% of the retail e-commerce sales growth is reported to be Indonesia.
The following table displays the percentage of retail e-commerce sales growth of the leading countries around the world.
|Country||Retail E-Commerce Sales Growth|
Global E-Commerce Revenue
- Asia is forecasted to generate $2.5 trillion in the year 2023. At the same time, The United States is expected to generate $1.13 trillion in e-commerce revenue in the year 2023.
The following table displays the retail e-commerce revenue generated in different regions in the year 2023.
|United States||1,137 billion|
|Australia & Oceania||49 billion|
- The share of cross-border e-commerce retail revenue in the year 2023 is expected to be only 2% in Japan. At the same time, its domestic share of e-commerce revenue is expected to be 98%.
The following table displays the percentage of cross-border and domestic share of e-commerce revenue expected to be generated in the year 2023 by different countries.
|Country||Cross-Border E-Commerce Revenue Share||Domestic E-Commerce Revenue Share|
E-Commerce Sales By Region
- E-commerce sales are expected to grow by 50% in the United States. Besides, in Europe, the expected percentage of growth is 47%.
The following table displays the percentage of e-commerce sales growth by different regions around the world.
|Region||Percentage Of Sales Growth|
Leading Global Online Marketplaces
- Alibaba is the leading online retailer worldwide, with estimated sales of $780.7 billion in the year 2022.
It is followed by Amazon, with total sales of $691.3 billion in the year 2022.
Besides, in the year 2027, Alibaba is forecasted to have retail sales of 1.13 trillion, while Amazon is predicted to generate sales of 1.2 trillion in 2027.
The following table displays the sales generated by the leading e-commerce retailers worldwide in the year 2022 and the expected sales to be generated in the year 2027.
|Alibaba||780.7 billion||1,137.5 billion|
|Amazon||691.3 billion||1,200.5 billion|
|Pinduoduo||445.2 billion||806.1 billion|
|JD.com||363.3 billion||631.8 billion|
|eBay||78.2 billion||90.8 billion|
- Alibaba is predicted to be the leading e-commerce retailer in the electronics, entertainment, and leisure sectors worldwide.
It generated $318.3 billion in the above categories as of 2022. While in the year 2027, it is predicted to generate $461.9 billion.
Besides, Amazon stands second in these product categories, with retail e-commerce sales of $301.3 billion in the year 2022 and predicted e-commerce sales of $518.9 billion in the year 2027.
The following table displays the leading e-commerce retailers in the electronic, office, entertainment, and leisure sectors worldwide in the years 2022 and 2027.
|Alibaba||318.3 billion||461.9 billion|
|Amazon||301.3 billion||518.9 billion|
|JD.com||211.8 billion||343.1 billion|
|Pinduoduo||185 billion||335 billion|
|Apple||33.9 billion||40.4 billion|
|eBay||30.7 billion||35 billion|
|Samsung||30 billion||39.7 billion|
|Xiaomi||24.9 billion||37.2 billion|
|Coupang||19.6 billion||41.1 billion|
|Walmart||19.3 billion||28.4 billion|
- Amazon ranks first with the highest percentage share of desktop visits recorded in the e-commerce industry.
Besides, eBay is the second most popular website worldwide. It accounted for 3.18% of the desktop visits to the sites in the e-commerce category.
The following table displays the percentage share of desktop visits of different e-commerce sites.
|E-Commerce Sites||Percentage Of Desktop Visits.|
- E-commerce websites generate most website visits worldwide.
Almost 74% of the traffic on e-commerce websites comes from smartphones. At the same time, desktops generate a traffic share of 24% for e-commerce websites.
The following table displays the percentage of e-commerce website traffic and orders recorded from different devices.
|Device||Traffic Share||Order Share|
- Mobile commerce is expected to touch a sales mark of $710 billion by 2025.
- Amazon has the highest monthly traffic, with 1.16 billion visitors. Besides, the monthly traffic recorded on eBay is 589.1 million visits in the year 2022.
The following table displays the monthly traffic of the leading e-commerce websites.
|E-Commerce Websites||Number Of Monthly Website Visitors.|
Global Online Shopper Conversion Rates.
- Online marketplaces like Alibaba, eBay, and JD.com accounted for more than one-third of global online shopping orders. They are responsible for 35% of online purchases worldwide.
The following table displays the distribution of purchases worldwide.
|Type Of Purchases||Share Of Purchases|
|Supermarkets & grocers||17%|
|Social on-app purchasing||14%|
|Direct-to-consumer/branded sites and apps||7%|
- During the second quarter of the year 2022, only 2.3% of the visits to e-commerce websites in the United States turned into purchases.
At the same time, 4.1% of the visits in Great Britain turned to purchases.
The following table displays the percentage of visits that turned into visits over the past quarters in different regions of the world.
|Quarter||Great Britain||United States||Europe, Middle East, and Africa||Other|
- The conversion rates of e-commerce purchases decrease as the size of the device gets smaller.
The conversion rate of the purchases on desktops in Great Britain is recorded to be 5%, while that in the United States is recorded to be 3%. Comparatively, the conversion rates from mobile phones are recorded to be 4% in Great Britain and 2% in the United States.
The following table displays the percentage of the conversion rate of online shoppers on e-commerce websites from different devices and in different regions of the world.
|Europe, Middle East, and Africa||2%||1%||1%|
E-Commerce Consumer Behavior
- E-commerce users purchase less than three products per order. In December 2022, the average number of products purchased per order was recorded to be 3.12.
The following table displays the number of products bought per order over the past months.
|Month||Average Number Of Units|
- 45% of the people said that one of the significant benefits of an e-commerce platform is that they can shop anytime with flexibility.
Besides, 37% of the people said that they could compare the shops and get better deals is the best benefit of online shopping.
The following table shows the benefits of e-commerce platforms according to global consumers.
|Benefits||Percentage Of Users|
|can shop at any time and anywhere||45%|
|can compare shops and get better deals||37%|
|No need to visit the store||36%|
|No risk of getting affected by Covid.||32%|
|More variety of products||34%|
|Can understand and read about the product||25%|
|Easy to find the needed items||26%|
|Can shop from anywhere in the world||22%|
- According to 46% of the respondents, the biggest disadvantage of e-commerce is that they cannot touch or feel the products.
At the same time, 45% of the users said that they couldn’t be sure of quality while buying products online.
The following table displays the major disadvantages of e-commerce according to e-commerce consumers.
|Disadvantage||Percentage of E-commerce Consumers.|
|Can not touch or test the product||46%|
|Unsure about the quality of the product||45%|
|Returning the product can be complicated||34%|
|Shipping problems or delays||32%|
|High risk of fraud||31%|
|Does not support local retailers||23%|
|Bad for the environment||16%|
|Bad shopping experience||13%|
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Conclusion: Global eCommerce Sales Growth (2023)
That’s all about the state of Global e-commerce sales as of 2023.
With the increase of digitalization and most people turning online to buy products and daily household requirements, e-commerce has grown rapidly over the past five years, and it is sure to grow even more in the coming years.
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