+30 E-commerce Growth Statistics to Maximize Sales in 2023
E-commerce growth statistics show that e-commerce has grown over the past decade with the internet’s rise. By exploring these, businesses can enhance their growth strategies.
As people want convenience, they can get anything from a simple search on their computer or smartphone. The best part is that the transaction goes smoothly and quickly as well.
We have much to learn from the latest studies and statistics on e-commerce growth. Using these new findings in your marketing strategy will help you grow your business and improve conversion rate optimization.
Now let’s dive into eye-opening e-commerce growth statistics!
Top E-commerce Growth Statistics
➤ Amazon is the most popular e-commerce and shopping website, according to Statista worldwide in May 2022, based on the share of visits.
➤ E-commerce statistics by Hostinger show that there are 24 million e-commerce websites worldwide and this number is increasing each day.
➤ Research from GWI shows that “recommerce” is an increasingly trendy choice, with 14.4% of internet users buying a used or second-hand item online each week.
➤ Statista data on e-commerce sales show that in 2021, retail e-commerce sales amounted to approximately 5.2 trillion U.S. dollars worldwide. This figure is forecast to grow by 56% over the next years, reaching about 8.1 trillion dollars by 2026.
➤ Insider Intelligence’ forecast on e-commerce growth shows that e-commerce will make up 24.5% of all retail sales worldwide by 2025.
➤ According to Statista’s data on retail e-commerce sales, it is estimated that global e-commerce sales will exceed $7.4 trillion by the year 2025.
➤ According to Chain Store Age’s study, before making significant purchases, approximately 81% of individuals conduct online research.
E-commerce Growth Statistics Worldwide
➤ According to Statista’s statistics on e-commerce share of retail sales worldwide reveals that it is anticipated that the worldwide online retail sales figure will surpass $7 trillion in the year 2025.
This statistic clearly shows how e-commerce is becoming a more and more important part of global commerce.
➤ However, the news is not very good from Latin America. After the rise in 2020, estimates show a decrease in the market across the leading Latin American economies in 2021 and 2022.
On the other side, in 2022, leading countries based on retail e-commerce sales growth were Singapore (36%), Indonesia (34%), and the Philippines (25.9%).
➤ According to Hostinger’s study and estimates, e-commerce will account for approximately 95% of all purchases by the year 2040.
➤ Worldwide retail e-commerce sales statistics also show that by 2026, e-commerce sales in the US amounted to 8.1 trillion US dollars.
➤ The same study points out that Alibaba, a Chinese retail group, currently holds the title of the world’s largest e-commerce retailer, with online sales worth more than $700 billion in 2022.
Nevertheless, projections suggest that the Seattle-based e-commerce company Amazon will overtake Alibaba in sales by 2027, with an estimated $1.2 trillion in online sales.
➤ Some countries shared a bigger piece of this growth compared to others. China’s online shopping market, for example, is enormous, and it has become the largest e-commerce market in the world.
The Chinese government has been promoting policies to support domestic e-commerce companies and to maintain a healthy competition environment for foreign e-commerce players in China.
➤ They are poised to become the leader of e-commerce as it is expected to account for more than 50% of global e-retail sales in the upcoming years.
➤ The United States is the second, with an expected 19% share of all online retail sales, followed in the third place by the United Kingdom, with 4.8 percent.
➤ Having an advanced payments system and logistics infrastructure, global e-commerce stats show that South Korea’s online sales already account for 37% of all retail activity.
Mobile E-commerce Growth Statistics
Worldwide, the growth of e-commerce is being fueled by mobile consumers. They are using their phones and tablets to purchase goods and services. Therefore, as can be guessed, mobile shopping is also growing rapidly.
➤ According to the Digital 2022 Global Overview Report, 67.1% of the world’s population now uses a mobile phone. In fact, there were 5.13 billion unique users by the start of 2022.
➤ Consequently, the global total has grown by 1.8% over the past year. Now there are 95 million new mobile users since last year.
➤ Smartphone users worldwide spent a total of $170 billion on mobile apps and in-app purchases in 2021.
The thing is, these revenue figures only include transactions made directly through app stores, so things like e-commerce purchases made via mobile apps or mobile ad revenues are not included.
➤ By 2025, retail mobile commerce sales are expected to more than double to reach $728.28 billion and account for 44.2% of retail e-commerce sales in the US.
➤ Mobile commerce sales stats show that three out of four customers buy online from their smartphone to save time.
➤ It is also worth sharing that e-commerce statistics reveal that in the United States, mobile shoppers make purchases via apps 51% more than e-commerce websites.
➤ And in the US alone, the amount of time spent on mobile devices every day has risen in recent years. It is predicted that this number will increase to approximately 4 hours and 35 minutes by 2023.
➤ WPForms states in a blog post about e-commerce statistics that the conversion rates from mobile applications are three times higher than mobile websites.
➤ In a comparison between China vs. the US retail and social commerce sales, it is seen that China generates $351.65 billion in revenue from retail e-commerce sales in social (transactions made directly on a social media platform). This is ten times more than the US.
Social Media E-commerce Growth Statistics
➤ According to Oberlo’s social media marketing statistics, 71% of customers suggest a brand to their friends and family after having a favorable encounter with it on social media. It shows that social media plays an undeniably big role in e-commerce growth.
➤ As BigCommerce states in a blog post related to social media e-commerce statistics, an online store’s sales are typically 32% higher when it has a social media presence than when it doesn’t.
➤ According to Accenture’s study about the future of shopping and social commerce, by 2025, social commerce sales are anticipated to increase by 26% to $1.2 trillion.
➤ Kinsta states in a blog post about e-commerce statistics that 74% of consumers use social media to research products before making a purchase. Furthermore, 56% of people who follow brands on social media do so to look at products.
➤ 75% of internet users look up products via social media, as Datareportal states in their report.
Wrap Up
In conclusion, understanding the most recent e-commerce growth statistics is crucial for businesses of all sizes as more and more consumers purchase online.
Businesses can learn important lessons about how to thrive in the quickly changing e-commerce ecosystem by looking at global e-commerce sales trends, e-commerce growth by mobile devices, and social media for the future of e-commerce growth.
Also, businesses may take advantage of e-commerce’s enormous potential and drive growth in the years to come by putting the appropriate strategies in place. We hope you found these statistics and better-understood e-commerce growth.
Frequently Asked Questions
What is E-commerce Growth?
E-commerce growth describes how the size and sales of the e-commerce market have grown over time. Its rise is fueled by various things, and knowing how it changes over time can help you improve your business to achieve certain goals.
What are The Key Factors Driving Global E-commerce Growth?
Increasing smartphone and internet usage, rising consumer comfort with online buying, and the availability of quicker and more dependable delivery and payment alternatives are some of the major factors for driving global e-commerce growth.
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