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ARTICLE #11
E-commerce in 2024: Key retail statistics
Written by:
5 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 is racing ahead, and 2024 looks set to push online retail to new levels. Digital shops offer a solution for modern consumers, and businesses benefit from around-the-clock accessibility. Analysts predict the global e-commerce market could leap to $6.33 trillion, highlighting the broad impact of mobile shopping, AI-assisted purchasing, and direct-from-app buying on platforms such as Instagram or TikTok.
With augmented reality and voice-enabled search also in the mix, competition grows. Meanwhile, a robust digital presence is more crucial than in past years as all brands jostle for the spotlight. Having a strategy that blends tech-savvy features with user value can pay off in sales and brand loyalty. For those hungry to explore the numbers and trends, 2024’s retail statistics paint a vivid portrait of where e-commerce stands right now.
E-commerce is racing ahead, and 2024 looks set to push online retail to new levels. Digital shops offer a solution for modern consumers, and businesses benefit from around-the-clock accessibility. Analysts predict the global e-commerce market could leap to $6.33 trillion, highlighting the broad impact of mobile shopping, AI-assisted purchasing, and direct-from-app buying on platforms such as Instagram or TikTok.
With augmented reality and voice-enabled search also in the mix, competition grows. Meanwhile, a robust digital presence is more crucial than in past years as all brands jostle for the spotlight. Having a strategy that blends tech-savvy features with user value can pay off in sales and brand loyalty. For those hungry to explore the numbers and trends, 2024’s retail statistics paint a vivid portrait of where e-commerce stands right now.
Global e-commerce trends in 2024
Global e-commerce trends in 2024
E-commerce keeps turning retail on its head, offering new ways for businesses to meet shoppers. In 2024, customers look for quick, user-friendly browsing, custom suggestions, and safe transactions. Every fresh idea pushes retailers to rise above the competition. Convenience still matters, but data-driven approaches are defining the next phase of global e-commerce across varied consumer bases and strong emerging demands.
Growth of online retail
In 2024, online retail is marching forward at a remarkable pace, with e-commerce transactions expected to account for 20.1% of total retail activity. That shift reflects how shoppers increasingly favour digital convenience over traditional in-store browsing. Forecasters project the global e-commerce market will top $6 trillion by the end of the year, thanks to around-the-clock availability and wide-reaching product selections. Many brands see real benefits, including lower overheads and broader market access, as they refine their online strategies. Tapping into consumer desire for hassle-free purchasing appears crucial for sustained growth.
International market growth
Global online sales surged beyond $5.3 trillion in 2023, paving the way for bigger milestones that might top $8.1 trillion by 2026. This upswing signals prime possibilities for brands keen to reach across borders, whether in buzzing city centres or laid-back rural pockets. Expanding internet connectivity has spurred cross-border shopping, linking sellers to fresh demographics seeking varied product choices. By adapting payment systems, language settings, and shipping methods, brands enhance their odds of building a faithful customer base abroad, while bolstering a durable international standing and stronger revenue potential overall.
American supremacy in the e-commerce market
In 2023, the United States amassed $1.1 trillion in online sales, making up 16.4% of total retail activity. That performance highlights the American market’s clout, especially with its cultural influence and wide consumer base. Brands tuned to US preferences often report bigger visibility and revenue, with a few extending their global footprint thanks to success stateside. By refining product lines, promotional strategies, and shipping networks for US buyers, companies can tap into this powerful growth and boost their online standing in other markets, ultimately driving broader brand awareness and loyalty.
Leading e-commerce giants
Amazon seems set to hold its top spot in US e-commerce through 2024, likely taking around 40% of online sales. On the international stage, it wields a broad footprint that puts competitors on edge. Meanwhile, Walmart, eBay, and AliExpress all aim to draw digital shoppers with curated items and perks. This lively rivalry drives lower prices, quicker shipping, and useful features for customers. Brands hoping to shine should watch how these forces refine their strategies, since those moves often shape wider industry norms. It’s a space where agility truly thrives.
E-commerce keeps turning retail on its head, offering new ways for businesses to meet shoppers. In 2024, customers look for quick, user-friendly browsing, custom suggestions, and safe transactions. Every fresh idea pushes retailers to rise above the competition. Convenience still matters, but data-driven approaches are defining the next phase of global e-commerce across varied consumer bases and strong emerging demands.
Growth of online retail
In 2024, online retail is marching forward at a remarkable pace, with e-commerce transactions expected to account for 20.1% of total retail activity. That shift reflects how shoppers increasingly favour digital convenience over traditional in-store browsing. Forecasters project the global e-commerce market will top $6 trillion by the end of the year, thanks to around-the-clock availability and wide-reaching product selections. Many brands see real benefits, including lower overheads and broader market access, as they refine their online strategies. Tapping into consumer desire for hassle-free purchasing appears crucial for sustained growth.
International market growth
Global online sales surged beyond $5.3 trillion in 2023, paving the way for bigger milestones that might top $8.1 trillion by 2026. This upswing signals prime possibilities for brands keen to reach across borders, whether in buzzing city centres or laid-back rural pockets. Expanding internet connectivity has spurred cross-border shopping, linking sellers to fresh demographics seeking varied product choices. By adapting payment systems, language settings, and shipping methods, brands enhance their odds of building a faithful customer base abroad, while bolstering a durable international standing and stronger revenue potential overall.
American supremacy in the e-commerce market
In 2023, the United States amassed $1.1 trillion in online sales, making up 16.4% of total retail activity. That performance highlights the American market’s clout, especially with its cultural influence and wide consumer base. Brands tuned to US preferences often report bigger visibility and revenue, with a few extending their global footprint thanks to success stateside. By refining product lines, promotional strategies, and shipping networks for US buyers, companies can tap into this powerful growth and boost their online standing in other markets, ultimately driving broader brand awareness and loyalty.
Leading e-commerce giants
Amazon seems set to hold its top spot in US e-commerce through 2024, likely taking around 40% of online sales. On the international stage, it wields a broad footprint that puts competitors on edge. Meanwhile, Walmart, eBay, and AliExpress all aim to draw digital shoppers with curated items and perks. This lively rivalry drives lower prices, quicker shipping, and useful features for customers. Brands hoping to shine should watch how these forces refine their strategies, since those moves often shape wider industry norms. It’s a space where agility truly thrives.
Online shopping behaviour insights
Consumer’s preferences are adapting and expecting digital platforms to keep pace. They appreciate quick-loading pages, diverse product choices, and payment options that feel secure. Demand for personalised experiences remains strong, with user-specific deals and curated recommendations standing out. The following points reveal how these preferences shape the 2024 e-commerce scene and affect retailers worldwide, for better revenue opportunities.
Global shopping reach
Around 57% of online buyers indicate a willingness to purchase from foreign retailers, suggesting a huge opening for businesses ready to adjust their websites and service offerings. Regions with low shipping costs, multiple currency choices, and transparent returns policies tend to attract more cross-border interest. By highlighting locally relevant content and ensuring smooth logistics, companies can appeal to a broader group of shoppers who prize variety and fair pricing. The ability to operate across borders is no longer optional, as global commerce fosters an environment of constant competition and opportunity.
Cart abandonment factors
About 70% of online shoppers add items to their virtual baskets but fail to complete the purchase. Key issues include sluggish shipping estimates, mandatory account setup, and hidden costs like taxes or delivery fees. Shoppers often lose trust when surprise charges appear too late. Retailers aiming to reduce abandonment rates can focus on up-front pricing transparency, faster shipping options, and flexible sign-in processes. Even small tweaks, such as offering guest checkout, can significantly raise conversion rates. This combination of user-friendly features and honest communication keeps customers from second-guessing their orders.
Mobile dominance
Roughly 77% of shoppers purchase goods via smartphones, placing mobile commerce squarely at the heart of online retail. Sites designed for smaller screens and straightforward navigation are no longer optional. Yet, lengthy load times and cluttered layouts often push users to abandon their carts prematurely. Retailers who highlight performance and simplicity can keep phone-based customers engaged and ready to buy. Even adding clear calls to action or minimising steps at checkout can improve sales. This mobile-first approach truly aligns with consumers’ on-the-go routines, making it a must for modern businesses.
Consumer’s preferences are adapting and expecting digital platforms to keep pace. They appreciate quick-loading pages, diverse product choices, and payment options that feel secure. Demand for personalised experiences remains strong, with user-specific deals and curated recommendations standing out. The following points reveal how these preferences shape the 2024 e-commerce scene and affect retailers worldwide, for better revenue opportunities.
Global shopping reach
Around 57% of online buyers indicate a willingness to purchase from foreign retailers, suggesting a huge opening for businesses ready to adjust their websites and service offerings. Regions with low shipping costs, multiple currency choices, and transparent returns policies tend to attract more cross-border interest. By highlighting locally relevant content and ensuring smooth logistics, companies can appeal to a broader group of shoppers who prize variety and fair pricing. The ability to operate across borders is no longer optional, as global commerce fosters an environment of constant competition and opportunity.
Cart abandonment factors
About 70% of online shoppers add items to their virtual baskets but fail to complete the purchase. Key issues include sluggish shipping estimates, mandatory account setup, and hidden costs like taxes or delivery fees. Shoppers often lose trust when surprise charges appear too late. Retailers aiming to reduce abandonment rates can focus on up-front pricing transparency, faster shipping options, and flexible sign-in processes. Even small tweaks, such as offering guest checkout, can significantly raise conversion rates. This combination of user-friendly features and honest communication keeps customers from second-guessing their orders.
Mobile dominance
Roughly 77% of shoppers purchase goods via smartphones, placing mobile commerce squarely at the heart of online retail. Sites designed for smaller screens and straightforward navigation are no longer optional. Yet, lengthy load times and cluttered layouts often push users to abandon their carts prematurely. Retailers who highlight performance and simplicity can keep phone-based customers engaged and ready to buy. Even adding clear calls to action or minimising steps at checkout can improve sales. This mobile-first approach truly aligns with consumers’ on-the-go routines, making it a must for modern businesses.
Social media dominance in e-commerce
Platforms such as Facebook and TikTok have evolved into full-service retail hubs, letting brands showcase products and process payments in one place. That convenience reshapes how people discover and buy goods, while fuelling further expansion in the online market. By blending social engagement with streamlined shopping, these sites put themselves at the forefront of modern retail and keep buyers intrigued.
The rise of social commerce
Social commerce approached $992 billion in 2022, and projections hint it might climb to $2.9 trillion by 2026. Shoppers enjoy the efficiency of browsing and buying right within familiar feeds, bypassing extra steps. This model empowers brands to meet consumers where they already spend time, boosting discoverability. Many businesses see social commerce as a cornerstone of their marketing, thanks to micro-targeting features and immediate user feedback. Seamless checkout experiences and interactive product showcases also keep audiences engaged. As social platforms refine these tools, the global retail landscape continues to evolve.
Expert impression
Influencers carry weight in modern retail, with nearly 49% of social commerce buyers reporting that online personalities guide their purchases. That kind of endorsement can catapult lesser-known brands into mainstream awareness. Many influencers invest time in building trust with their communities, so a recommendation resonates more than traditional ads. Collaborative campaigns may involve sponsored posts, product demos, or offers that spark consumer curiosity. Striking the right partnership also encourages authentic engagement, especially if the influencer’s style aligns with the brand’s identity. Such synergy can lead to measurable jumps in sales.
Understanding platform preferences
Facebook still holds a prime spot in social shopping, while Instagram, Pinterest, and TikTok cater to varied browsing styles. Each site brings its own strengths, from eye-catching visuals to snappy clips. Retailers who modify their playbook connect straight to target groups. Younger shoppers may gravitate to TikTok for live trends, and older users might prefer Facebook’s familiar feel. By slicing content such as behind-the-scenes snippets on Instagram or product teases on TikTok, brands mesh with audience expectations. This flexible approach broadens exposure, lifts conversions, and builds tighter loyalty while raising traffic across different channels.
Platforms such as Facebook and TikTok have evolved into full-service retail hubs, letting brands showcase products and process payments in one place. That convenience reshapes how people discover and buy goods, while fuelling further expansion in the online market. By blending social engagement with streamlined shopping, these sites put themselves at the forefront of modern retail and keep buyers intrigued.
The rise of social commerce
Social commerce approached $992 billion in 2022, and projections hint it might climb to $2.9 trillion by 2026. Shoppers enjoy the efficiency of browsing and buying right within familiar feeds, bypassing extra steps. This model empowers brands to meet consumers where they already spend time, boosting discoverability. Many businesses see social commerce as a cornerstone of their marketing, thanks to micro-targeting features and immediate user feedback. Seamless checkout experiences and interactive product showcases also keep audiences engaged. As social platforms refine these tools, the global retail landscape continues to evolve.
Expert impression
Influencers carry weight in modern retail, with nearly 49% of social commerce buyers reporting that online personalities guide their purchases. That kind of endorsement can catapult lesser-known brands into mainstream awareness. Many influencers invest time in building trust with their communities, so a recommendation resonates more than traditional ads. Collaborative campaigns may involve sponsored posts, product demos, or offers that spark consumer curiosity. Striking the right partnership also encourages authentic engagement, especially if the influencer’s style aligns with the brand’s identity. Such synergy can lead to measurable jumps in sales.
Understanding platform preferences
Facebook still holds a prime spot in social shopping, while Instagram, Pinterest, and TikTok cater to varied browsing styles. Each site brings its own strengths, from eye-catching visuals to snappy clips. Retailers who modify their playbook connect straight to target groups. Younger shoppers may gravitate to TikTok for live trends, and older users might prefer Facebook’s familiar feel. By slicing content such as behind-the-scenes snippets on Instagram or product teases on TikTok, brands mesh with audience expectations. This flexible approach broadens exposure, lifts conversions, and builds tighter loyalty while raising traffic across different channels.
Role of mobile commerce
Smartphones and tablets have become embedded in daily routines, spurring online retailers to refine their apps and mobile sites. The aim is to banish obstacles to purchasing, from smooth product previews to quicker checkouts. As shoppers increasingly rely on handheld devices, brands with user-focused designs can lock in consistent expansion and loyalty while nurturing trust and ensuring long-term engagement overall.
Revenue growth in mobile devices
Mobile commerce may exceed $710 billion in sales by 2025, sending a strong signal that retailers should invest in streamlined user experiences. Quick load speeds, uncluttered layouts, and robust security measures all contribute to a buyer’s willingness to complete transactions on a phone. Some brands incorporate facial recognition for logins or one-click payments to simplify the process further. By anticipating consumer expectations like personalisation and chat-based support, companies can solidify their position in this competitive arena. As more shoppers opt for handheld convenience, mobile-first strategies become the backbone of digital retail success.
Smartphones and tablets have become embedded in daily routines, spurring online retailers to refine their apps and mobile sites. The aim is to banish obstacles to purchasing, from smooth product previews to quicker checkouts. As shoppers increasingly rely on handheld devices, brands with user-focused designs can lock in consistent expansion and loyalty while nurturing trust and ensuring long-term engagement overall.
Revenue growth in mobile devices
Mobile commerce may exceed $710 billion in sales by 2025, sending a strong signal that retailers should invest in streamlined user experiences. Quick load speeds, uncluttered layouts, and robust security measures all contribute to a buyer’s willingness to complete transactions on a phone. Some brands incorporate facial recognition for logins or one-click payments to simplify the process further. By anticipating consumer expectations like personalisation and chat-based support, companies can solidify their position in this competitive arena. As more shoppers opt for handheld convenience, mobile-first strategies become the backbone of digital retail success.
E-commerce frauds
Online shopping opens doors to a world of products, but it also brings retailers face to face with crafty fraud attempts. In 2023, global merchants lost nearly $48 billion, an eye-opening blow that hits smaller businesses hardest. Phishing scams, account takeovers, and identity theft are the usual troublemakers hanging around online stores.
To tackle them, plenty of companies are beefing up their defenses by boosting encryption, adding multi-factor authentication, and tapping into tech-driven fraud detection. Meanwhile, cybersecurity spending keeps climbing, predicted to jump from $28 billion in 2020 to more than $69 billion by 2026. These moves are key for protecting both consumer trust and the crucial funds in everyone’s digital wallets.
By stepping up protective protocols, e-commerce operators reassure shoppers that digital purchases remain safe and worthwhile. Better coordination among payment gateways and hosting services further bolsters overall defences.
Online shopping opens doors to a world of products, but it also brings retailers face to face with crafty fraud attempts. In 2023, global merchants lost nearly $48 billion, an eye-opening blow that hits smaller businesses hardest. Phishing scams, account takeovers, and identity theft are the usual troublemakers hanging around online stores.
To tackle them, plenty of companies are beefing up their defenses by boosting encryption, adding multi-factor authentication, and tapping into tech-driven fraud detection. Meanwhile, cybersecurity spending keeps climbing, predicted to jump from $28 billion in 2020 to more than $69 billion by 2026. These moves are key for protecting both consumer trust and the crucial funds in everyone’s digital wallets.
By stepping up protective protocols, e-commerce operators reassure shoppers that digital purchases remain safe and worthwhile. Better coordination among payment gateways and hosting services further bolsters overall defences.
Frequently Asked Questions
What is the ecommerce forecast for 2025?
E-commerce is expected to top $4.8 trillion by 2025, propelled by surging mobile shopping and tailored user experiences. Many leading experts still view AI and analytics as powerful drivers helping digital sellers remain competitive in a marketplace that’s growing more packed by the minute.
What does the next five years look like for e-commerce?
Prepare for more eco-friendly packaging and shipping efforts, alongside bigger budgets for AR, VR, and AI-driven product suggestions. Shoppers may embrace faster checkout steps and fresh ways to connect with brands, ushering in a more immersive era of online shopping.
How has e-commerce affected B2B transactions?
B2B deals run more smoothly under digital systems, with AI-based tools automating tasks like order tracking and account management. Purchasers appreciate transparent pricing and real-time inventory checks, while sellers gain detailed data insights to optimise supply chains and nurture stronger partner relationships.
Final thoughts
E-commerce keeps gaining momentum, driven by shoppers who appreciate flexible tech options, fast deliveries, and tight online security. Retailers that devote energy to easy-to-use sites, social selling tactics, and anti-fraud measures are more likely to shine in competitive markets. Keeping customers engaged through personal touches like genuine emails or loyalty rewards can significantly strengthen brand ties.
Meanwhile, paying attention to fresh trends such as AI chatbots or augmented reality previews can differentiate a store in crowded markets. As the marketplace evolves, balancing innovation with customer care remains crucial. A proactive approach encourages steady growth and opens doors to new revenue streams, even when market conditions shift. Above all, putting genuine value in front of customers keeps them returning, ensuring e-commerce continues to flourish in 2024 and well beyond, leading to lasting success.
Frequently Asked Questions
What is the ecommerce forecast for 2025?
E-commerce is expected to top $4.8 trillion by 2025, propelled by surging mobile shopping and tailored user experiences. Many leading experts still view AI and analytics as powerful drivers helping digital sellers remain competitive in a marketplace that’s growing more packed by the minute.
What does the next five years look like for e-commerce?
Prepare for more eco-friendly packaging and shipping efforts, alongside bigger budgets for AR, VR, and AI-driven product suggestions. Shoppers may embrace faster checkout steps and fresh ways to connect with brands, ushering in a more immersive era of online shopping.
How has e-commerce affected B2B transactions?
B2B deals run more smoothly under digital systems, with AI-based tools automating tasks like order tracking and account management. Purchasers appreciate transparent pricing and real-time inventory checks, while sellers gain detailed data insights to optimise supply chains and nurture stronger partner relationships.
Final thoughts
E-commerce keeps gaining momentum, driven by shoppers who appreciate flexible tech options, fast deliveries, and tight online security. Retailers that devote energy to easy-to-use sites, social selling tactics, and anti-fraud measures are more likely to shine in competitive markets. Keeping customers engaged through personal touches like genuine emails or loyalty rewards can significantly strengthen brand ties.
Meanwhile, paying attention to fresh trends such as AI chatbots or augmented reality previews can differentiate a store in crowded markets. As the marketplace evolves, balancing innovation with customer care remains crucial. A proactive approach encourages steady growth and opens doors to new revenue streams, even when market conditions shift. Above all, putting genuine value in front of customers keeps them returning, ensuring e-commerce continues to flourish in 2024 and well beyond, leading to lasting success.
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Work with us
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work@for.co
- FOR® Brand. FOR® Future.
We’re remote-first — with strategic global hubs
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Helsinki, FIN
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Click to copy
New York, NY
ny@for.co
Click to copy
Miami, FL
mia@for.co
Click to copy
Dubai, UAE
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Click to copy
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Copyright © 2024 FOR®
Work with us
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We’re remote-first — with strategic global hubs
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Click to copy
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Click to copy
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