E-commerce is growing at astonishing speed. Everyone including the direct stakeholders are amazed at the growth of this area of economy.
Sellers Commerce has recently compiled the data related to e-commerce. Their very informative report is available at https://www.sellerscommerce.com/blog/ecommerce-statistics/#:~:text=The%20Global%20eCommerce%20sales%20will,rate%20compared%20to%20physical%20stores.
We are reproducing here its condensed version:
43 eCommerce Statistics In 2024 (Global and U.S. Data)
Last Updated On: September 10th, 2024
With over 33% of the world’s population shopping online, eCommerce is now a $6 trillion industry and will reach the $8 trillion mark by 2027.
2.71 billion people around the globe are making online purchases from dedicated eCommerce platforms or Social media stores.
Ecommerce Statistics of 2024 (Top Picks)
- 2.71 billion people shop online worldwide.
- 20.1% of retail purchases are expected to take place online in 2024. This share will further rise to 22.6% by 2027.
- Ecommerce sales will surpass $6.3 trillion in 2024.
- There are over 26.6 million eCommerce stores globally.
- 52% of online shoppers look for products internationally.
- 34% of shoppers shop online at least once a week.
- 99% of customers look for reviews when they shop online.
General Ecommerce Statistics
This section sheds light on the growth of the eCommerce sector over the years and what are its future projections. We’ll also discuss the number of online shoppers and stores along with the most shopped categories.
2.71 billion people shop online globally as of 2024
There are 2.71 billion online shoppers globally as of 2024. That means 33% of the world’s population is shopping online. This marks a 2.7% increase from the previous year.
The number of online shoppers will increase to 2.77 billion in 2025, reflecting the boom in eCommerce due to the increased internet penetration and convenience.
China leads the online shopping trend with 915.1 million online shoppers, while the US has 270.11 million online buyers in 2024.
Source: eMarketer, Statista 1, Statista 2.
20.1% of retail purchases will take place online in 2024
It is further expected that 22.6% of all retail purchases will be made online by 2027. The share of online retail purchases is rising at an average of 0.32% every year since 2021.
This is a sign to invest more in the online presence of your business and stay relevant in the current retail scene.
The global eCommerce market will surpass $6.3 trillion in 2024
The Global eCommerce sales will account for $6.3 trillion in 2024, which is a 8.76% increase from 2023.
The sales will continue growing at a CAGR of 7.8% between 2024 to 2027 and reach $8 trillion by 2027. Growing at more than 2x rate compared to physical stores. This shows that eCommerce is becoming a more profitable choice for companies worldwide.
There are over 26.6 million eCommerce sites globally
As of 2024, There are 26.6 million eCommerce sites worldwide marking a 3.83% increase from the previous year. Which means 2,685 eCommerce websites started each day between 2023 and 2024.
The United States has almost 50% of all the eCommerce sites worldwide.
The majority of online stores are powered by Shopify and Wix with each powering 19.07% and 11.84% of stores respectively.
Most shopping journeys start online
44% of shoppers start their shopping journey on the search engine and 41% do so directly on online stores like Amazon or a business’s website.
The report by Klarna also reveals that 83% of people do their research online before visiting in-store.
Social media is also preferred by 14% of people to start their online shopping journey. /// nCa, 11 October 2024