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eCommerce Market
Mobile Commerce
Social Commerce
Global Ecommerce
Retail Statistics
ARTICLE #11
E-commerce in 2024: Key retail statistics
eCommerce Market
Mobile Commerce
Social Commerce
Global Ecommerce
Retail Statistics
eCommerce Market
Mobile Commerce
Social Commerce
Global Ecommerce
Retail Statistics
Written by:
3 min read
Updated on: March 7, 2024
Iryna Osadcha
Project Manager
Creative Operations, Project Coordination
Iryna Osadcha
Project Manager
Creative Operations, Project Coordination
E-commerce keeps scaling up at a head-turning pace, with online shops becoming crucial platforms for businesses that crave flexibility. Analysts estimate a $6.33 trillion jump in global e-commerce revenue this year, and online retail is moving right along with it.
Driving much of this surge is mobile commerce, AI-powered personal shopping, and social buying through apps like Instagram or TikTok. Alongside the obvious convenience, digital stores give shoppers around the world access to goods all day, every day.
Brands are also eager about new features like augmented reality and voice search, designed to make browsing more immersive. Yet as online competition heats up, a rock-solid digital presence is more important now than it was in the past.
E-commerce keeps scaling up at a head-turning pace, with online shops becoming crucial platforms for businesses that crave flexibility. Analysts estimate a $6.33 trillion jump in global e-commerce revenue this year, and online retail is moving right along with it.
Driving much of this surge is mobile commerce, AI-powered personal shopping, and social buying through apps like Instagram or TikTok. Alongside the obvious convenience, digital stores give shoppers around the world access to goods all day, every day.
Brands are also eager about new features like augmented reality and voice search, designed to make browsing more immersive. Yet as online competition heats up, a rock-solid digital presence is more important now than it was in the past.
Global e-commerce trends in 2024
Global e-commerce trends in 2024
E-commerce is shaking up traditional business models and consumer habits. As companies expand their digital presence, key statistics signal some interesting shifts in how people buy and sell.
Growth of online retail
In 2024, e-commerce is on a steep climb. Digital transactions will account for 20.1% of all retail activity, revealing a hefty change in how people shop and showing why it’s wise to invest in a strong online strategy.
Forecasters say the global e-commerce market will pass $6 trillion this year. Plenty of brands are capitalising on nonstop shopping hours and the convenience that internet retail offers.
International market growth
Worldwide e-commerce revenue exceeded $5.3 trillion in 2023, and certain analysts predict it may climb above $8.1 trillion by 2026. That’s tremendous news for brands aiming to connect with large groups of shoppers, whether they’re located in buzzy inner cities or laid-back suburbs.
Rising internet availability has also fuelled cross-border sales, giving retailers a real shot at tapping into fresh, international buyer segments.
American supremacy in the e-commerce market
In 2023, the United States pulled in $1.1 trillion from online shopping, and 16.4% of retail purchases happened via e-commerce. These figures highlight the major sway the American market holds. Businesses that play to US consumer preferences often see higher sales and widespread recognition worldwide.
Leading e-commerce giants
Amazon looks ready to keep its crown in US e-commerce for 2024, snagging roughly 40% of online sales. It also has a wide reach beyond the States. At the same time, Walmart, eBay, and AliExpress are making moves to capture digital shoppers’ attention. This healthy competition ultimately gives customers more product choices and price points.
E-commerce is shaking up traditional business models and consumer habits. As companies expand their digital presence, key statistics signal some interesting shifts in how people buy and sell.
Growth of online retail
In 2024, e-commerce is on a steep climb. Digital transactions will account for 20.1% of all retail activity, revealing a hefty change in how people shop and showing why it’s wise to invest in a strong online strategy.
Forecasters say the global e-commerce market will pass $6 trillion this year. Plenty of brands are capitalising on nonstop shopping hours and the convenience that internet retail offers.
International market growth
Worldwide e-commerce revenue exceeded $5.3 trillion in 2023, and certain analysts predict it may climb above $8.1 trillion by 2026. That’s tremendous news for brands aiming to connect with large groups of shoppers, whether they’re located in buzzy inner cities or laid-back suburbs.
Rising internet availability has also fuelled cross-border sales, giving retailers a real shot at tapping into fresh, international buyer segments.
American supremacy in the e-commerce market
In 2023, the United States pulled in $1.1 trillion from online shopping, and 16.4% of retail purchases happened via e-commerce. These figures highlight the major sway the American market holds. Businesses that play to US consumer preferences often see higher sales and widespread recognition worldwide.
Leading e-commerce giants
Amazon looks ready to keep its crown in US e-commerce for 2024, snagging roughly 40% of online sales. It also has a wide reach beyond the States. At the same time, Walmart, eBay, and AliExpress are making moves to capture digital shoppers’ attention. This healthy competition ultimately gives customers more product choices and price points.
Online shopping behaviour insights
Shoppers’ preferences continue to evolve. They lean towards user-friendly mobile sites, access to international brands, and custom-fit options that align with what they want. Here’s a snapshot of key consumer insights for 2024.
Global shopping reach
About 57% of online shoppers say they’re ready to buy from overseas retailers. That’s good news for brands that polish their websites for international customers—especially when it comes to affordable shipping and flexible payment options. Going cross-border not only widens your audience but can also unlock new revenue streams.
Cart abandonment factors
Roughly 70% of online customers add products to their carts but then bail out before paying. Slow shipping, forced account registration, and extra fees for taxes or delivery are big culprits. Streamlining these pain points can lift sales and curb abandonment rates.
Mobile dominance
Around 77% of consumers make purchases on a smartphone, positioning mobile commerce at the core of online buying. Websites optimised for smaller screens and simpler navigation are vital now that people reach for their phones more than ever.
Still, clunky design and long load times have led to higher abandonment rates on mobile. Retailers who prioritise speed and smoothness on a phone-friendly site can see big gains.
Shoppers’ preferences continue to evolve. They lean towards user-friendly mobile sites, access to international brands, and custom-fit options that align with what they want. Here’s a snapshot of key consumer insights for 2024.
Global shopping reach
About 57% of online shoppers say they’re ready to buy from overseas retailers. That’s good news for brands that polish their websites for international customers—especially when it comes to affordable shipping and flexible payment options. Going cross-border not only widens your audience but can also unlock new revenue streams.
Cart abandonment factors
Roughly 70% of online customers add products to their carts but then bail out before paying. Slow shipping, forced account registration, and extra fees for taxes or delivery are big culprits. Streamlining these pain points can lift sales and curb abandonment rates.
Mobile dominance
Around 77% of consumers make purchases on a smartphone, positioning mobile commerce at the core of online buying. Websites optimised for smaller screens and simpler navigation are vital now that people reach for their phones more than ever.
Still, clunky design and long load times have led to higher abandonment rates on mobile. Retailers who prioritise speed and smoothness on a phone-friendly site can see big gains.
Social media dominance in e-commerce
Social media is transforming into a one-stop shop for connecting with customers, marketing goods, and completing transactions—all on the same platform. This approach supercharges e-commerce growth and cements social channels as major players in retail.
The rise of social commerce
Social commerce was already close to $992 billion in 2022 and may reach $2.9 trillion by 2026. Shoppers can now explore and buy products directly within their favourite social feeds, without opening a separate website. Brands aiming to grow their audience and revenue are weaving social commerce into their main marketing strategies.
Expert impression
Social media influencers hold serious sway in shaping what people buy. Around 49% of social commerce shoppers say influencer endorsements directly affect their decisions. By partnering with the right personalities, brands boost their visibility and often see higher conversion rates.
Understanding platform preferences
Facebook still commands the largest share of social commerce, while Instagram and other platforms hold their own. Figuring out how each platform operates—and who uses it—helps retailers craft solid social selling tactics.
Different age groups gravitate to different apps. Younger consumers might flock to TikTok for new product discoveries, while an older audience could stick to Facebook for browsing and buying. Customising your social presence to each user base encourages stronger engagement.
Social media is transforming into a one-stop shop for connecting with customers, marketing goods, and completing transactions—all on the same platform. This approach supercharges e-commerce growth and cements social channels as major players in retail.
The rise of social commerce
Social commerce was already close to $992 billion in 2022 and may reach $2.9 trillion by 2026. Shoppers can now explore and buy products directly within their favourite social feeds, without opening a separate website. Brands aiming to grow their audience and revenue are weaving social commerce into their main marketing strategies.
Expert impression
Social media influencers hold serious sway in shaping what people buy. Around 49% of social commerce shoppers say influencer endorsements directly affect their decisions. By partnering with the right personalities, brands boost their visibility and often see higher conversion rates.
Understanding platform preferences
Facebook still commands the largest share of social commerce, while Instagram and other platforms hold their own. Figuring out how each platform operates—and who uses it—helps retailers craft solid social selling tactics.
Different age groups gravitate to different apps. Younger consumers might flock to TikTok for new product discoveries, while an older audience could stick to Facebook for browsing and buying. Customising your social presence to each user base encourages stronger engagement.
Role of mobile commerce
Mobile commerce covers shopping on smartphones or tablets. As these devices become must-haves for daily life, online retailers are refining their apps and mobile sites to ensure quick, user-friendly shopping instead of clunky, frustrating experiences.
Revenue growth in mobile devices
By 2025, mobile commerce sales could surpass $710 billion. That’s a clear call for retailers to focus on fast load times, intuitive interfaces, and secure transactions. Some businesses even use features like facial recognition and hassle-free checkouts to keep shoppers engaged on their phones.
Mobile commerce covers shopping on smartphones or tablets. As these devices become must-haves for daily life, online retailers are refining their apps and mobile sites to ensure quick, user-friendly shopping instead of clunky, frustrating experiences.
Revenue growth in mobile devices
By 2025, mobile commerce sales could surpass $710 billion. That’s a clear call for retailers to focus on fast load times, intuitive interfaces, and secure transactions. Some businesses even use features like facial recognition and hassle-free checkouts to keep shoppers engaged on their phones.
E-commerce frauds
While online retail offers flexibility and convenience, it also opens the door to potential fraud. In 2023, online sellers lost around $48 billion through shady activities—a big blow, especially for smaller operations.
In response, businesses and tech providers are stepping up their fraud detection efforts. Cybersecurity investments related to online transactions could swell from $28 billion in 2020 to over $69 billion by 2026. This focus on safety helps protect finances and maintain confidence in digital shopping.
While online retail offers flexibility and convenience, it also opens the door to potential fraud. In 2023, online sellers lost around $48 billion through shady activities—a big blow, especially for smaller operations.
In response, businesses and tech providers are stepping up their fraud detection efforts. Cybersecurity investments related to online transactions could swell from $28 billion in 2020 to over $69 billion by 2026. This focus on safety helps protect finances and maintain confidence in digital shopping.
Frequently Asked Questions
What is the ecommerce forecast for 2025?
Analysts believe global online sales may surpass $4.8 trillion, bolstered by mobile commerce and AI-driven personalisation.
What does the next five years look like for e-commerce?
A bigger spotlight on eco-friendly methods and ramped-up use of AI, AR, and VR will shape future online shopping. Shoppers are likely to see faster platforms, smarter personalisation, and a more entertaining experience overall.
How has e-commerce affected B2B transactions?
Digital tools have made the B2B scene more straightforward. Automation features and AI help companies keep orders on track and handle supply chains online without much fuss.
Final thoughts
All signs point to e-commerce staying on a growth path, driven by consumers who want seamless tech solutions and top-level security. Brands that prioritise user experience, social media sales, and robust fraud protection stand a better chance of shining in this competitive market. Keeping an eye on emerging trends and maintaining a people-first approach can position companies for a rewarding future in online retail.
Frequently Asked Questions
What is the ecommerce forecast for 2025?
Analysts believe global online sales may surpass $4.8 trillion, bolstered by mobile commerce and AI-driven personalisation.
What does the next five years look like for e-commerce?
A bigger spotlight on eco-friendly methods and ramped-up use of AI, AR, and VR will shape future online shopping. Shoppers are likely to see faster platforms, smarter personalisation, and a more entertaining experience overall.
How has e-commerce affected B2B transactions?
Digital tools have made the B2B scene more straightforward. Automation features and AI help companies keep orders on track and handle supply chains online without much fuss.
Final thoughts
All signs point to e-commerce staying on a growth path, driven by consumers who want seamless tech solutions and top-level security. Brands that prioritise user experience, social media sales, and robust fraud protection stand a better chance of shining in this competitive market. Keeping an eye on emerging trends and maintaining a people-first approach can position companies for a rewarding future in online retail.
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