eCommerce is booming worldwide! (1 Viewing)


Nov 11, 2020
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Key points from Shopify article (link below).

How big is global eCommerce and what are a few of the main trends? Shopify recently provided some interesting statistics to help us see where things are heading:

• In 2014, the global ecommerce market was worth around $1.3 trillion.
• In 2021, global ecommerce is forecast to hit $4.89 trillion – almost a 400 percent increase in seven years.
• In 2019, only 13.6 percent of sales were made from online purchases. It is expected to reach 19.5 percent in 2021 and 21.8 percent by 2024.
• North America is second behind Latin America in the growth of retail ecommerce sales in 2020 with Europe and Asia not far behind.
• The U.S. ($843 billion) is second to China ($2.8 trillion) in total ecommerce sales
• China is the largest single market and is set to become the first country to transact more than half of its retail sales online, with 52.1 percent of retail happening through ecommerce.
• Mobile ecommerce has seen particularly rapid growth worldwide, with Insider Intelligence forecasting that m-ecommerce will grow at a 25.5 percent compound annual rate until 2024.

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