eCommerce in 2023: Key Retail Statistics

eCommerce Market

Retail Statistics

eCommerce Trends

Online Shopping Behaviour

eCommerce Fraud

WRITTEN BY

Updated on: March 7th, 2024

Huzaifa Rizwan

Lead Content & Growth Manager

Conversion Copy Specialist

3 mins read

In 2024 the best way to boost the sales of your business is to shift your sales to e-commerce. Many latest e-commerce platforms help you to have a strong online presence of your product, reach more customers, and open 24/7 worldwide. 

Let’s see the key statistics show the potential of having an online store in 2024. 

General eCommerce Trends

Expeditious Growth 

E-commerce is increasing at an exponential rate by 2024, online retail sales will make up a startling 21.8% of all retail transactions. This shows a considerable change in consumer behavior and emphasizes how critical a strong online presence is for companies of all types. 

International Market Growth

The size of the worldwide eCommerce market exceeded $4.9 trillion in 2024, and projections show that it will continue to increase, reaching over $8.1 trillion by 2026. This rapid growth shows how eCommerce is globally allowing companies to reach a wide range of customers all over the world despite geographical limitations.

American Supremacy

In 2024 the US e-commerce market exceeded $1.1 trillion and retail transactions made over 16.4% online, showing the world the importance of the US market in the revolution of digital commerce. This proves that businesses can make a great profit if they direct their marketing and sales to American customers. 

Read More: How to Reduce Ad Costs and Boost ROI

eCommerce titans

Amazon maintains its governing position in eCommerce, holding a shocking 50% of all online purchases. However, rivals like Walmart, eBay, and AliExpress are also making important advancements, emphasizing the distinct competitiveness of the eCommerce market.

Online Shopping Behavior Insights

Worldwide Reach

The tendency of online buyers to look into overseas possibilities is a notable trend; 57% of them say they would be inclined to shop globally. This trend emphasizes how essential it is to serve audiences worldwide and use eCommerce to rejuvenate a genuinely global existence. 

Cart Abandonment elements

It is essential to understand the elements that contribute to cart abandonment to maximize the online purchasing experience. Slow shipping times and the need to create an account are the main aspects, followed by additional expenses like taxes and shipping. To maximize conversion rates and decline cart abandonment rates, these elements must be smooth.

Mobile Ascendancy

With 91% of consumers making online smartphone purchases, mobile commerce is an extensive move in the eCommerce landscape. Choosing websites for mobile devices is essential, as evidenced by the high cart abandonment rates on the mobile landscape.

Social Media's Ascendancy in eCommerce

Social Commerce Bang

With $992 billion estimated to be spent on social media commerce in 2020, the relationship between social media and eCommerce is still growing at a very rapid pace. This sum is predicted to increase to $2.9 trillion by 2026, demonstrating the important part that social media platforms play in promoting online commerce.

Expert Impression 

According to 49% of social commerce shoppers, suggestions from social media influencers have a major impact on the purchases made by consumers. In the social commerce ecosystem, utilizing influencer connections can be an effective method for increasing brand visibility and improving sales.

Services likes and dislikes

Though Facebook is the most popular site for social commerce, other networks, like Instagram, also have an important effect. For the reason of creating social commerce tactics that are efficient and catered to particular audience segments, it is vital to understand platform mechanics and user preferences.

Mobile Commerce Statistics

Revenue Growth in Mobile Devices

By 2025, sales of mobile commerce are predicted to go beyond $710 billion, showing the rising value of mobile technologies in producing money for eCommerce. To effectively take advantage of this lucrative consumer sector, businesses must give importance to mobile efficiency.

Laptop Decline 

Though smartphones continue to dominate the world of mobile commerce, tablet sales are already on a decline and will probably keep going in the years to come. This underlines the need for companies to concentrate their mobile-utilizing efforts on smartphones, as they are the most used device for online shopping.

Combatting eCommerce Fraud

Where e-commerce helps customers with ease of shopping while sitting on their couch, it’s going through fraud as well which leads to a significant threat to businesses, especially startups. In 2023 the world of online retailers witnessed around $48 billion, giving business owners a big shiver.

However, this leads to the growth of fraud detectors and shields. The world is witnessing a surge of $28 billion in 2020 to over $69 billion in 2026 highlighting the emphasis placed on cybersecurity measures to mitigate the risks associated with online transactions.

Read More: Hire a Digital Marketing Agency. Here's Why!

Black Friday and Cyber Monday Frenzy

Billions of dollars are spent on Black Friday and Cyber Monday, the two largest days for online purchases. These days stay on top of the industry. Firms need to take advantage of these opportunities by developing tempting offers and refining their online infrastructure to manage the rise in traffic.

The online marketplace holds a lot of opportunities for businesses looking to prosper in a world where everything is connected. By adopting of new trends, taking advantage of 

social media channels, the improvement of mobile experiences, and a focus on the prevention of fraud strategies, companies could be setting themselves up for a prosperous future in the constantly shifting eCommerce marketplace.

eCommerce can transform organizations in many ways that don't appear capable of slowing down. If you are interested in changing that, let us support you! Getting in touch with FOR. 

eCommerce in 2023: Key Retail Statistics

eCommerce Market

Retail Statistics

eCommerce Trends

Online Shopping Behaviour

eCommerce Fraud

WRITTEN BY

Updated on: March 7th, 2024

Huzaifa Rizwan

Lead Content & Growth Manager

Conversion Copy Specialist

3 mins read

In 2024 the best way to boost the sales of your business is to shift your sales to e-commerce. Many latest e-commerce platforms help you to have a strong online presence of your product, reach more customers, and open 24/7 worldwide. 

Let’s see the key statistics show the potential of having an online store in 2024. 

General eCommerce Trends

Expeditious Growth 

E-commerce is increasing at an exponential rate by 2024, online retail sales will make up a startling 21.8% of all retail transactions. This shows a considerable change in consumer behavior and emphasizes how critical a strong online presence is for companies of all types. 

International Market Growth

The size of the worldwide eCommerce market exceeded $4.9 trillion in 2024, and projections show that it will continue to increase, reaching over $8.1 trillion by 2026. This rapid growth shows how eCommerce is globally allowing companies to reach a wide range of customers all over the world despite geographical limitations.

American Supremacy

In 2024 the US e-commerce market exceeded $1.1 trillion and retail transactions made over 16.4% online, showing the world the importance of the US market in the revolution of digital commerce. This proves that businesses can make a great profit if they direct their marketing and sales to American customers. 

Read More: How to Reduce Ad Costs and Boost ROI

eCommerce titans

Amazon maintains its governing position in eCommerce, holding a shocking 50% of all online purchases. However, rivals like Walmart, eBay, and AliExpress are also making important advancements, emphasizing the distinct competitiveness of the eCommerce market.

Online Shopping Behavior Insights

Worldwide Reach

The tendency of online buyers to look into overseas possibilities is a notable trend; 57% of them say they would be inclined to shop globally. This trend emphasizes how essential it is to serve audiences worldwide and use eCommerce to rejuvenate a genuinely global existence. 

Cart Abandonment elements

It is essential to understand the elements that contribute to cart abandonment to maximize the online purchasing experience. Slow shipping times and the need to create an account are the main aspects, followed by additional expenses like taxes and shipping. To maximize conversion rates and decline cart abandonment rates, these elements must be smooth.

Mobile Ascendancy

With 91% of consumers making online smartphone purchases, mobile commerce is an extensive move in the eCommerce landscape. Choosing websites for mobile devices is essential, as evidenced by the high cart abandonment rates on the mobile landscape.

Social Media's Ascendancy in eCommerce

Social Commerce Bang

With $992 billion estimated to be spent on social media commerce in 2020, the relationship between social media and eCommerce is still growing at a very rapid pace. This sum is predicted to increase to $2.9 trillion by 2026, demonstrating the important part that social media platforms play in promoting online commerce.

Expert Impression 

According to 49% of social commerce shoppers, suggestions from social media influencers have a major impact on the purchases made by consumers. In the social commerce ecosystem, utilizing influencer connections can be an effective method for increasing brand visibility and improving sales.

Services likes and dislikes

Though Facebook is the most popular site for social commerce, other networks, like Instagram, also have an important effect. For the reason of creating social commerce tactics that are efficient and catered to particular audience segments, it is vital to understand platform mechanics and user preferences.

Mobile Commerce Statistics

Revenue Growth in Mobile Devices

By 2025, sales of mobile commerce are predicted to go beyond $710 billion, showing the rising value of mobile technologies in producing money for eCommerce. To effectively take advantage of this lucrative consumer sector, businesses must give importance to mobile efficiency.

Laptop Decline 

Though smartphones continue to dominate the world of mobile commerce, tablet sales are already on a decline and will probably keep going in the years to come. This underlines the need for companies to concentrate their mobile-utilizing efforts on smartphones, as they are the most used device for online shopping.

Combatting eCommerce Fraud

Where e-commerce helps customers with ease of shopping while sitting on their couch, it’s going through fraud as well which leads to a significant threat to businesses, especially startups. In 2023 the world of online retailers witnessed around $48 billion, giving business owners a big shiver.

However, this leads to the growth of fraud detectors and shields. The world is witnessing a surge of $28 billion in 2020 to over $69 billion in 2026 highlighting the emphasis placed on cybersecurity measures to mitigate the risks associated with online transactions.

Read More: Hire a Digital Marketing Agency. Here's Why!

Black Friday and Cyber Monday Frenzy

Billions of dollars are spent on Black Friday and Cyber Monday, the two largest days for online purchases. These days stay on top of the industry. Firms need to take advantage of these opportunities by developing tempting offers and refining their online infrastructure to manage the rise in traffic.

The online marketplace holds a lot of opportunities for businesses looking to prosper in a world where everything is connected. By adopting of new trends, taking advantage of 

social media channels, the improvement of mobile experiences, and a focus on the prevention of fraud strategies, companies could be setting themselves up for a prosperous future in the constantly shifting eCommerce marketplace.

eCommerce can transform organizations in many ways that don't appear capable of slowing down. If you are interested in changing that, let us support you! Getting in touch with FOR. 

eCommerce in 2023: Key Retail Statistics

eCommerce Market

Retail Statistics

eCommerce Trends

Online Shopping Behaviour

eCommerce Fraud

WRITTEN BY

Updated on: March 7th, 2024

Huzaifa Rizwan

Lead Content & Growth Manager

Conversion Copy Specialist

3 mins read

In 2024 the best way to boost the sales of your business is to shift your sales to e-commerce. Many latest e-commerce platforms help you to have a strong online presence of your product, reach more customers, and open 24/7 worldwide. 

Let’s see the key statistics show the potential of having an online store in 2024. 

General eCommerce Trends

Expeditious Growth 

E-commerce is increasing at an exponential rate by 2024, online retail sales will make up a startling 21.8% of all retail transactions. This shows a considerable change in consumer behavior and emphasizes how critical a strong online presence is for companies of all types. 

International Market Growth

The size of the worldwide eCommerce market exceeded $4.9 trillion in 2024, and projections show that it will continue to increase, reaching over $8.1 trillion by 2026. This rapid growth shows how eCommerce is globally allowing companies to reach a wide range of customers all over the world despite geographical limitations.

American Supremacy

In 2024 the US e-commerce market exceeded $1.1 trillion and retail transactions made over 16.4% online, showing the world the importance of the US market in the revolution of digital commerce. This proves that businesses can make a great profit if they direct their marketing and sales to American customers. 

Read More: How to Reduce Ad Costs and Boost ROI

eCommerce titans

Amazon maintains its governing position in eCommerce, holding a shocking 50% of all online purchases. However, rivals like Walmart, eBay, and AliExpress are also making important advancements, emphasizing the distinct competitiveness of the eCommerce market.

Online Shopping Behavior Insights

Worldwide Reach

The tendency of online buyers to look into overseas possibilities is a notable trend; 57% of them say they would be inclined to shop globally. This trend emphasizes how essential it is to serve audiences worldwide and use eCommerce to rejuvenate a genuinely global existence. 

Cart Abandonment elements

It is essential to understand the elements that contribute to cart abandonment to maximize the online purchasing experience. Slow shipping times and the need to create an account are the main aspects, followed by additional expenses like taxes and shipping. To maximize conversion rates and decline cart abandonment rates, these elements must be smooth.

Mobile Ascendancy

With 91% of consumers making online smartphone purchases, mobile commerce is an extensive move in the eCommerce landscape. Choosing websites for mobile devices is essential, as evidenced by the high cart abandonment rates on the mobile landscape.

Social Media's Ascendancy in eCommerce

Social Commerce Bang

With $992 billion estimated to be spent on social media commerce in 2020, the relationship between social media and eCommerce is still growing at a very rapid pace. This sum is predicted to increase to $2.9 trillion by 2026, demonstrating the important part that social media platforms play in promoting online commerce.

Expert Impression 

According to 49% of social commerce shoppers, suggestions from social media influencers have a major impact on the purchases made by consumers. In the social commerce ecosystem, utilizing influencer connections can be an effective method for increasing brand visibility and improving sales.

Services likes and dislikes

Though Facebook is the most popular site for social commerce, other networks, like Instagram, also have an important effect. For the reason of creating social commerce tactics that are efficient and catered to particular audience segments, it is vital to understand platform mechanics and user preferences.

Mobile Commerce Statistics

Revenue Growth in Mobile Devices

By 2025, sales of mobile commerce are predicted to go beyond $710 billion, showing the rising value of mobile technologies in producing money for eCommerce. To effectively take advantage of this lucrative consumer sector, businesses must give importance to mobile efficiency.

Laptop Decline 

Though smartphones continue to dominate the world of mobile commerce, tablet sales are already on a decline and will probably keep going in the years to come. This underlines the need for companies to concentrate their mobile-utilizing efforts on smartphones, as they are the most used device for online shopping.

Combatting eCommerce Fraud

Where e-commerce helps customers with ease of shopping while sitting on their couch, it’s going through fraud as well which leads to a significant threat to businesses, especially startups. In 2023 the world of online retailers witnessed around $48 billion, giving business owners a big shiver.

However, this leads to the growth of fraud detectors and shields. The world is witnessing a surge of $28 billion in 2020 to over $69 billion in 2026 highlighting the emphasis placed on cybersecurity measures to mitigate the risks associated with online transactions.

Read More: Hire a Digital Marketing Agency. Here's Why!

Black Friday and Cyber Monday Frenzy

Billions of dollars are spent on Black Friday and Cyber Monday, the two largest days for online purchases. These days stay on top of the industry. Firms need to take advantage of these opportunities by developing tempting offers and refining their online infrastructure to manage the rise in traffic.

The online marketplace holds a lot of opportunities for businesses looking to prosper in a world where everything is connected. By adopting of new trends, taking advantage of 

social media channels, the improvement of mobile experiences, and a focus on the prevention of fraud strategies, companies could be setting themselves up for a prosperous future in the constantly shifting eCommerce marketplace.

eCommerce can transform organizations in many ways that don't appear capable of slowing down. If you are interested in changing that, let us support you! Getting in touch with FOR. 

Work with us

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Copyright © 2024 FOR®

  • FOR® Growth

  • FOR® Digital

  • FOR® Brand

  • FOR® Studio

Work with us

Click to copy

work@for.co

Copyright © 2024 FOR®

  • FOR® Growth

  • FOR® Digital

  • FOR® Brand

  • FOR® Studio

Work with us

Click to copy

work@for.co

Copyright © 2024 FOR®