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eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
ARTICLE #11
eCommerce in 2024: Key retail statistics
eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
Written by:
3 Minute read
Updated on: March 7, 2024
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
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
Some e-commerce trends and technologies come and go, but some are so impactful they reshape the market entirely. Following the wave of innovations and emerging technologies in 2023, business leaders are now evaluating their next steps and deciding which new trends to adopt. Here are some of the most significant trends that will influence your business in 2024 and the year ahead.
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 behaviour 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.
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 behaviour insights
Online shopping behaviour refers to the actions and patterns of consumers as they interact with e-commerce platforms, digital marketplaces, and mobile shopping apps. This behaviour includes a variety of activities and psychological processes, such as how customers search for products, make decisions, and their purchasing habits.
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 media for e-commerce is not just a trend. Instead, it's changing the future of online retail. To stay ahead, businesses must understand how social media influences e-commerce. This understanding is key to ongoing growth and success.
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
Mobile e-commerce has become a staple for consumers and retailers alike. With m-commerce, users can easily pay bills, buy and sell goods and services, book tickets, and handle other transactions, all from their mobile devices.
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.
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.
ARTICLE #11
eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
ARTICLE #11
eCommerce in 2024: Key retail statistics
eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
Written by:
3 Minute read
Updated on: March 7, 2024
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
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
Some e-commerce trends and technologies come and go, but some are so impactful they reshape the market entirely. Following the wave of innovations and emerging technologies in 2023, business leaders are now evaluating their next steps and deciding which new trends to adopt. Here are some of the most significant trends that will influence your business in 2024 and the year ahead.
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 behaviour 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.
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 behaviour insights
Online shopping behaviour refers to the actions and patterns of consumers as they interact with e-commerce platforms, digital marketplaces, and mobile shopping apps. This behaviour includes a variety of activities and psychological processes, such as how customers search for products, make decisions, and their purchasing habits.
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 media for e-commerce is not just a trend. Instead, it's changing the future of online retail. To stay ahead, businesses must understand how social media influences e-commerce. This understanding is key to ongoing growth and success.
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
Mobile e-commerce has become a staple for consumers and retailers alike. With m-commerce, users can easily pay bills, buy and sell goods and services, book tickets, and handle other transactions, all from their mobile devices.
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.
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.
ARTICLE #11
eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
ARTICLE #11
eCommerce in 2024: Key retail statistics
eCommerce Market
Retail Statistics
eCommerce Trends
Online Shopping Behaviour
eCommerce Fraud
Written by:
3 Minute read
Updated on: March 7, 2024
Toni Hukkanen
Head of Design
Creative Direction, Brand Direction
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
Some e-commerce trends and technologies come and go, but some are so impactful they reshape the market entirely. Following the wave of innovations and emerging technologies in 2023, business leaders are now evaluating their next steps and deciding which new trends to adopt. Here are some of the most significant trends that will influence your business in 2024 and the year ahead.
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 behaviour 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.
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 behaviour insights
Online shopping behaviour refers to the actions and patterns of consumers as they interact with e-commerce platforms, digital marketplaces, and mobile shopping apps. This behaviour includes a variety of activities and psychological processes, such as how customers search for products, make decisions, and their purchasing habits.
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 media for e-commerce is not just a trend. Instead, it's changing the future of online retail. To stay ahead, businesses must understand how social media influences e-commerce. This understanding is key to ongoing growth and success.
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
Mobile e-commerce has become a staple for consumers and retailers alike. With m-commerce, users can easily pay bills, buy and sell goods and services, book tickets, and handle other transactions, all from their mobile devices.
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.
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.
ARTICLE #11
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