GITNUX MARKETDATA REPORT 2024

Must-Know E Commerce Statistics [Recent Analysis]

Our Newsletter

The Business Week In Data

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!

Learn more about our Newsletter

Table of Contents

E-commerce has become a major force in the global economy in recent years, transforming the way people shop and conduct business. With the widespread adoption of smartphones and other digital devices, consumers can now purchase products and services from any location, at any time, with just a few clicks. In many countries, e-commerce sales have grown at an unprecedented rate, surpassing traditional retail sales. Statistics on e-commerce provide valuable insights into the trends and patterns of online shopping, thereby assisting businesses and consumers in understanding the dynamics of this rapidly evolving industry. 

In this article, we will examine the latest e-commerce statistics, including general statistics, industry statistics, consumer behavior statistics, and more.

E-commerce: The Most Important Statistics

Global e-commerce sales increased by 9.7% in 2022 compared to the prior year. During that time period, approximately 20% of all retail sales worldwide were conducted online.

Amazon is the e-commerce market leader in terms of market capitalization as of June 2022, with a market capitalization of approximately $1,081 billion. Alibaba.com ranked second with $304 billion.

63% of online e-commerce consumers say they are more likely to make a purchase from a retailer that provides same-day delivery.

General statistics on E-commerce

Global retail e-commerce sales surpassed $5.7 trillion in 2022. This amount is projected to increase by 43% in 2026, reaching approximately $8.1.

In 2022, approximately 20% of worldwide retail sales were conducted online. According to forecasts, the online retail market will account for nearly 25% of global retail sales by 2026.

By 2022, cross-border e-commerce sales were anticipated to reach $627 billion, up from $450 billion in 2018.

Global e-commerce sales increased by 9.7% in 2022 compared to the prior year. During that time period, approximately 20% of all retail sales worldwide were conducted online.

In 2022, Asia will be the center of the emerging e-commerce markets. Online sales are expected to increase by more than 25% in the Philippines and India, the countries with the fastest-growing e-commerce markets.

Asia had the highest total e-commerce retail revenue in 2022, with more than $2 trillion. Approximately $1.1 trillion was generated in the Americas, making it the second-highest revenue-generating region. African e-commerce revenue was the lowest in the world at approximately $44.

In 2022, the Chinese e-commerce market is projected to be the largest in the world, with nearly 50% of the country’s retail sales occurring online. The United Kingdom ranks second with 36% of retail sales occurring online, followed by South Korea and Denmark (32% and 20% respectively). 

Singapore and Indonesia were predicted to undergo the greatest increase in e-commerce sales, with increases of 36% and 34%, respectively. In the meantime, the Argentine e-commerce market was expected to grow by more than 25%, the highest rate in the Americas.

E-commerce industry statistics

Amazon is the e-commerce market leader in terms of market capitalization as of June 2022, with a market capitalization of approximately $1,081 billion. Alibaba.com ranked second with $304 billion.

Alibaba is the world’s largest e-commerce retailer by online sales in 2022, with online sales exceeding $700 billion. E-commerce giant Amazon will surpass Alibaba in estimated sales by 2027 when Amazon will generate more than $1.2 trillion in online sales.

In 2021, the e-commerce platform Taobao was the world’s most popular online marketplace based on gross merchandise value (GMV), with approximately $711 billion. Tmall, a B2C e-commerce website based in China, ranked second with a GMV of $672 billion. Amazon ranked third with a gross merchandise value of $390 billion. 

Amazon, eBay, and Alibaba continue to control the majority of e-commerce sales. According to eMarketer, online marketplace sales will reach $2.7 trillion in 2021.

In 2022, Amazon.com had nearly 3.2 billion monthly visitors, followed by eBay.com with nearly 590 million monthly visitors.

Amazon is the largest e-commerce retailer in the United States, accounting for about 38% of all e-commerce sales in the country.

Mobile devices are becoming more and more popular for online shopping. According to eMarketer, mobile e-commerce accounted for 72.9% of all global e-commerce sales in 2021.

Digital payment methods are gaining popularity in e-commerce. Global digital payments are anticipated to reach $6,7 trillion by 2023, up from $3.3 trillion in 2019.

Online advertising is a significant factor in e-commerce sales. According to eMarketer, US e-commerce advertisers spent $40.3 billion on digital advertising in 2021.

In the third quarter of 2022, online shoppers spent just under $2.4 per visit across all verticals on average. The category in which consumers spent the most per visit, on average, was luxury apparel, at $2.79, followed by general footwear at $2.50.

E-commerce consumer behavior statistics

Online shopping becomes increasingly popular, 67% of U.S. adults have made a purchase online within the past month.

Before making a purchase decision in 2021, nearly 70% of online shoppers will typically read between 1 and 6 reviews. Less than 1 out of 10 shoppers did not routinely read customer reviews prior to making a purchase.

63% of online e-commerce consumers say they are more likely to make a purchase from a retailer that provides same-day delivery.

Customer reviews play a crucial role in online purchasing choices. 87% of consumers read online reviews for local businesses, and 94% say that a positive review increases their likelihood of using a business.

In a global consumer survey conducted in February 2022, nearly 50% of respondents preferred e-commerce platforms due to their flexibility to shop at any time. Better prices were the second most frequent advantage of online shopping, with approximately 40% of responses.

3 in 4 of consumers say they conduct extensive research before making a major purchase.

E-commerce companies are placing a greater emphasis on customer loyalty. According to BigCommerce, 40% of an e-commerce company’s revenue comes from loyal customers.

E-commerce shoppers are increasingly concerned about return policies, with 96% of online shoppers saying they would shop with a retailer again if they had an easy return policy.

User experience is becoming increasingly important in e-commerce, as 88% of online consumers say they would not return to a site after a negative experience.

Up to 46% of global respondents viewed the inability to touch or feel the products as a significant disadvantage of online shopping. The inability to ascertain the quality of a product before purchasing is the second major barrier to e-commerce, according to 45% of respondents.

E-commerce business behaviors statistics

Multi-channel selling is growing in importance for e-commerce businesses, with 62% of retailers claiming to use three or more sales channels.

Rapid growth is being seen in e-commerce adoption, with 91% of US retailers claiming to have an e-commerce channel.

58% of retailers anticipate an increase in e-commerce sales in the coming year, indicating that e-commerce businesses are optimistic about future growth.

Shipping and fulfillment are crucial components of e-commerce success, with 85% of consumers stating that delivery experience is a deciding factor in whether they will shop with a retailer again.

Customer experience is a top priority for e-commerce businesses, with 62% of retailers planning to increase investment in customer experience over the next year.

72% of retailers plan to increase investment in data analytics over the next year, indicating that data analytics is becoming increasingly important to e-commerce businesses.

The importance of personalized recommendations and experiences is increasing for e-commerce businesses, with 77% of retailers reporting an increase in sales after implementing personalized recommendations.

E-commerce risks statistics

The average number of monthly web attacks against e-commerce retailers is 206,000.

Global e-commerce fraud losses are projected to exceed $41 billion by the end of 2022.

In 2020, online fraud attempts increased by 63% during Covid-19.

Online payment fraud annually costs e-commerce businesses an estimated $6.5 billion.

42% of US respondents to a survey cited security concerns as a reason for not shopping online.

20% of online shoppers in the United States reported receiving counterfeit goods, according to a survey.

In 2020, the US Consumer Product Safety Commission recalled more than 400,000 online marketplace-sold products.

The top five attacks on e-commerce websites consist of account takeover (ATO) (29.8%), bot imposter (24.1%), SQL injection (SQLI) (8.2%), cross-site scripting (XSS) (8.7%), and backdoor file (6.4%).

Check out our latest Cybersecurity Statistics

E-commerce trends in 2024

Mobile commerce is expanding rapidly, accounting for 73% of e-commerce sales in 2023 and is expected to reach $3.56 trillion in 2024.

56% of online shoppers in the United States begin their product search on Amazon, and Walmart’s online marketplace is growing at a rate of 79%.

Retailers are planning to invest in technologies such as chatbots, personalized recommendations, and augmented reality to improve the customer experience. 86% of consumers are willing to pay more for a superior customer experience.

Supplementary Statistics

Global e-commerce sales are expected to reach $4.2 trillion in 2020.

This is a testament to the immense potential of e-commerce, demonstrating that the industry is on track to reach unprecedented heights in 2020. It is a clear indication that e-commerce is a rapidly growing sector, and one that businesses should be paying attention to.

E-commerce retail sales are projected to make up 22% of global retail sales by 2023.

By 2023, e-commerce retail sales are expected to account for a significant portion of global retail sales, indicating that e-commerce is becoming an increasingly integral part of the retail industry. This statistic is a powerful reminder of the potential of e-commerce and the need to stay up-to-date with the latest trends and developments in the field.

63% of shopping occasions begin online.

It shows that the majority of shoppers are now turning to the internet to begin their shopping journey, highlighting the need for businesses to have a strong online presence in order to remain competitive.

Mobile e-commerce is projected to reach $3.56 trillion and make up 72.9% of e-commerce sales by 2021.

This is a clear sign that businesses must prioritize mobile-friendly strategies if they want to remain competitive in the e-commerce market. This statistic is a must-know for anyone interested in the e-commerce industry.

Cart abandonment rates average around 69.57%.

The staggering statistic of 69.57% cart abandonment rates serves as a stark reminder of the importance of optimizing the e-commerce experience. With such a high percentage of customers leaving their carts behind, it is essential for e-commerce businesses to take steps to reduce this rate and ensure that customers have a smooth and enjoyable shopping experience.

The average e-commerce conversion rate is around 2.86% globally.

This is a crucial indicator of the success of e-commerce businesses, as it reveals the average rate at which customers are converting from visitors to buyers. Knowing the average conversion rate can help businesses identify areas of improvement and set realistic goals for their own e-commerce operations. This statistic is a valuable tool for any blog post about e-commerce statistics, as it provides a benchmark for businesses to measure their own performance against.

In 2018, fashion was the most popular e-commerce category, with a 61% share of sales.

On this, we can see the importance of fashion in the e-commerce landscape and provides a valuable insight into the preferences of online shoppers.

85% of consumers conduct online research before making a purchase online.

It shows that the majority of consumers are taking the time to research products and services before making a purchase, which speaks to the need for businesses to provide accurate and up-to-date information about their offerings online. This statistic is a reminder that e-commerce businesses must prioritize providing quality content and resources to their customers in order to remain competitive.

30% of consumers are willing to purchase products from Facebook.

This is significant in the context of e-commerce statistics as it indicates that a substantial portion of consumers are comfortable with buying products from Facebook, suggesting that the platform is a viable option for businesses to reach potential customers.

62% of US consumers shop more online now than they did in 2019.

The majority of US consumers are now relying more heavily on online shopping than they did in 2019, indicating that e-commerce is becoming an increasingly popular option for purchasing goods and services. This statistic is important for anyone interested in the e-commerce industry, as it provides insight into the current trends and consumer preferences.

Online sales of consumer packaged goods (CPG) increased by 17.3% in 2018.

More and more people are turning to online shopping for their CPG needs, and that businesses are responding to this trend by investing more in their online presence. This statistic is a clear indication that e-commerce is here to stay, and that businesses need to take it seriously if they want to stay competitive.

The global average order value for e-commerce is $120.00.

This can be used to identify areas of improvement, such as increasing the average order value, or to identify opportunities to increase revenue. Additionally, it can be used to compare the performance of different e-commerce businesses, allowing for a better understanding of the industry as a whole.

APAC (Asia-Pacific) is predicted to become the united retail e-commerce of the world by 2020, with over 66% of sales.

With over 66% of sales, this region will be a major player in the industry, and businesses should take note of this trend and adjust their strategies accordingly.

Over 2.14 billion people worldwide are expected to shop online in 2021.

The online shopping market is growing rapidly, and that businesses should take advantage of this trend to reach more customers and increase their profits. With over 2.14 billion people expected to shop online in 2021, e-commerce is an opportunity that businesses should not miss out on.

PayPal is the preferred method of payment for 42% of online shoppers.

A significant portion of online shoppers prefer to use PayPal when making purchases, highlighting the platform’s popularity and influence in the industry.

64% of online shoppers say a video on social media helped them decide on a product to buy.

Videos on social media can be a powerful tool for e-commerce businesses to reach potential customers and encourage them to make a purchase. This highlights the importance of creating engaging video content for e-commerce businesses to maximize their reach and increase their sales.

Cross-border e-commerce represented 21% of the worldwide online market in 2020.

This highlights the potential for businesses to expand their reach and tap into new markets, as well as the opportunities for customers to access a wider range of products and services. It also speaks to the increasing trend of globalization, as more and more people are engaging in international trade. As such, this statistic is an important indicator of the current state of the e-commerce industry and its potential for growth.

Conclusion

E-commerce is a rapidly expanding industry, and the numbers indicate that businesses must capitalize on this development. Businesses must ensure they have a strong presence in the digital space, as a growing number of consumers prefer to shop online. By utilizing the most recent e-commerce statistics, businesses can make well-informed decisions that will allow them to remain competitive in the constantly changing digital landscape.

References

BigCommerce: “Customer retention and acquisition drive sales”, cited in February 2023 (Source)

BrightLocal: “Local Consumer Review Survey 2023”, cited in February 2023 (Source)

DigitalCommerce360: “What are the top online marketplaces?”, cited in February 2023 (Source)

Dynata: “THE NEW EXPERIENCE ECONOMY”, cited in February 2023 (Source)

DazeInfo: “eCommerce fraud losses in 2022 – 2023: Cybercriminals may steal $48 billion in 2023”, cited in February 2023 (Source)

eMarketer: “Top 10 Countries, Ranked by Retail Ecommerce Sales Growth, 2022”,cited in February 2023 (Source)

eMarketer: “Worldwide Ecommerce Forecast Update 2022”, cited in February 2023 (Source)

FinancesOnline: “57 Crucial eCommerce Fraud Statistics for 2023: Types, Cost & Protection Data”, cited in February 2023 (Source)

GPBullhound: “Q2 2022 insights into Digital Commerce”, cited in February 2023 (Source)

MetaPack: “STATE OF ECOMMERCE DELIVERY”, cited in February 2023 (Source)

NRF: “Consumers want it all”, cited in February 2023 (Source)

Statista: “How many reviews do you typically read before you make a decision to purchase?”, cited in February 2023 (Source)

Statista: “Most visited online retail websites worldwide in 2022, by monthly traffic”, cited in February 2023 (Source)

Salesforce: “Stay ahead of the curve with a look into quarterly shopping data”, cited in February 2023 (Source)

Statista: “Total retail e-commerce revenue worldwide in 2022, by region”, cited in February 2023 (Source)

ZipDo, cited June 2023: E Commerce Statistics

FAQs

What is e-commerce?

E-commerce is the buying and selling of goods and services through an electronic medium, such as the internet.

What are the benefits of e-commerce?

The benefits of e-commerce include increased convenience and accessibility, increased reach and market share, cost savings, and improved customer service.

What are the risks of e-commerce?

The risks of e-commerce include security concerns, a lack of customer service, and the potential for fraud.

What are the payment methods used in e-commerce?

Payment methods used in e-commerce include credit and debit cards, digital wallets, bank transfers, and cash on delivery.

How many types of e-commerce?

There are three main types of e-commerce: business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C).

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

Table of Contents

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!