E-commerce Statistics You Should Know in 2024

If you are considering opening an online store or have one, knowing the main e-commerce statistics is important. Several reports are published every year with valuable data about different sectors and e-commerce growth around the world. Research for credible sources and keep yourself updated.

The e-commerce sector had been steadily growing in the years before the pandemic, and COVID-19 accelerated its growth. In the first quarter of 2020, it underwent 10 years of growth in the space of three months. According to McKinsey, 75% of U.S. consumers tried a new brand, store, or website during the pandemic, and 60% plan to continue their customer relationship with these newly discovered businesses.

As for growth, these e-commerce statistics provide clues about what the future might hold:

It’s estimated that 95% of purchases will be made through e-commerce by 2040

The industry is growing 23% year-over-year

93.5% of internet users make purchases online

74% of consumers depend on social networks to make purchasing decisions

Online stores with a social media presence have an average of 32% more sales than those without

40% of online holiday-season purchases occur on smartphones

General E-Commerce Statistics#

Retail E-Commerce Sales Worldwide#

According to Statista, the global retail e-commerce sales reached approximately 5.8 trillion U.S. dollars in 2023. It's estimated that the sector will grow 39% by 2027 and surpass 8 trillion dollars in sales.

The Chinese company Alibaba is the largest e-commerce retailer in the world with a 23% percent market share. However, it's expected that Amazon will reach 1.2 trillion U.S. dollars in online sales by 2027, and surpass its competitor.

E-Commerce Revenue by Region#

According to a Statista report, Asia is the continent with the most prominent growth in e-commerce. The total revenue of online retail in all Asian countries together reached almost 1.7 trillion U.S. dollars in 2023.

This is approximately 800 million U.S. dollars higher than the e-commerce revenue reached in other continents. India stands out as the country with a higher Compound Annual Growth Rate (CAGR) for its e-commerce market. It's estimated that its market value will grow over 14 percent annually.

China is the country with the biggest revenue. It achieved a revenue of over 935 billion U.S. dollars in 2023.

The e-commerce market has also grown significantly in Latin America in 2023. Online shopping in Brazil generated nearly 186 billion Brazilian reals in revenue. Brazil holds approximately 29 percent of the e-commerce market in Latin America and the Caribbean in 2024.

E-Commerce Percentage of Total Retail Sales#

E-commerce sales represent 19% of the total retail sales worldwide in 2023 as reported by Statista. By 2027, online sales are predicted to make up close to a quarter of total global retail sales.

Number of E-commerce Stores#

Source: BuiltWith

Shopify is the leading platform for online stores, with more than 5 million websites hosted. Wix appears in second place and it has over 3,500 million e-commerce stores on its platform. In third place is WooCommerce with more than 3 million websites.

Online Shopping Behavior Statistics#

Online Shopping Behavior in The USA#

In 2024, the most popular category for online purchases in the USA is clothing with 42% of the sales. Shoes are in second place with 32%, and food and beverage are in third place with 26%.

Source: Statista

Between January to March 2024, U.S retail e-commerce sales reach approximately 266.3 billion U.S dollars.

Online Shopping Behavior in Europe#

The number of e-commerce users in Europe has increased considerably over the past years. In 2019, it was around 235 million, now this number has grown to 326 million. It's estimated that by 2029, there will be around 446 million e-commerce users in Europe.

Consumer Electronics E-Commerce#

The market for consumer electronics in e-commerce is expected to grow in the coming years. According to Statista, the global revenue in this sector is expected to grow 146.3 billion U.S dollars from 2024 to 2029, which represents a 15.4% growth.

The leading e-commerce website focused on consumer electronics is samsung.com with approximately 1.1 billion visits in April 2024. In second place, apple.com received 433 million visits that month.

Main Issues Impacting Consumers Online Experience#

User and customer experience are fundamental factors that determine if someone will make a purchase online or not. According to Statista the main issues for e-shoppers worldwide are:

• Rising prices for household goods.
• Out-of-stock products.
• Delivery time

Source: Statista

Keep Updated With E-commerce Changes#

Studying e-commerce statistics will help you understand how the market has changed over the years, and make plans based on the predictions for the next few years. As you can see the reports show an optimistic scenario for e-commerce worldwide.

To enjoy this moment the e-commerce statistics reveal, it's important to keep yourself updated with the latest changes in your sector. Always look for ways to improve your service to provide the best customer experience.