There were 2.64 billion online shoppers worldwide in 2023. This makes up 33% of the global population.
However, with the increase in smartphone penetration, social commerce, M-commerce, digital payment integrations, etc., online shoppers are estimated to reach 2.71 billion in 2024 and 2.77 billion in 2025.
As a result, global ecommerce sales will grow at a rapid pace.
In this article, I have compiled the latest figures about global ecommerce sales growth, Retail ecommerce sales Growth, market size, and revenue.
Global Ecommerce Sales Growth
Global ecommerce sales are forecasted to grow by $3 trillion between 2021 and 2027.
The ecommerce sales were valued at $5 trillion in 2021 and are forecasted to hit $8 trillion in 2027.
That is an annual growth of 8.3% and an overall increase of 61.1% from 2021 to 2027.
Besides, ecommerce sales are anticipated to reach $6.3 trillion in 2024. This marks a 9.4% annual increase compared to the previous year and the second-fastest growth rate between the forecast period of 2021 to 2027.
Factors like the increased adoption of technology, AI, digitalization, mobile commerce, social commerce, etc., have contributed to the rapid growth of e-commerce sales worldwide.
The following table displays the global ecommerce sales and growth percentage over the years:
| Year | Global Ecommerce Sales | Global E-commerce Sales Growth Rate |
| 2027* | $8 trillion | 7.6% |
| 2026* | $7.5 trillion | 8.6% |
| 2025* | $6.9 trillion | 8.6% |
| 2024* | $6.3 trillion | 9.4% |
| 2023 | $5.8 trillion | 8.9% |
| 2022 | $5.3 trillion | 6.5% |
| 2021 | $5 trillion | – |
*- Projected values
Source: Shopify, Insider Intelligence, Oberlo.
Retail Ecommerce Sales Growth
Global retail e-commerce sales are predicted to reach $6.3 trillion by 2024.
That will be a growth of 9.44% in retail e-commerce sales compared to the previous year. In 2023, the retail ecommerce sales growth was $5.78 trillion.
Further, retail ecommerce sales are predicted to reach $8.03 trillion by 2027. The overall growth rate of the retail ecommerce market between 2023 and 2027 is predicted to be 38.93%.
The following table displays the retail ecommerce growth rate and retail ecommerce sales over the years.
| Year | Global Retail eCommerce Sales | Global Retail eCommerce Sales Growth Rate (approx) |
| 2027* | $8.03 trillion | 7.59% |
| 2026* | $7.46 trillion | 8.60% |
| 2025* | $6.87 trillion | 8.63% |
| 2024* | $6.33 trillion | 9.44% |
| 2023 | $5.78 trillion | 8.91% |
| 2022 | $5.31 trillion | 6.48% |
| 2021 | $4.98 trillion | 17.42 |
| 2020 | $4.24 trillion | 26.77% |
| 2019 | $3.35 trillion | 12.37% |
| 2018 | $2.98 trillion | 25.19% |
| 2017 | $2.38 trillion | 29.11% |
| 2016 | $1.84 trillion | – |
*- projected values
Note: Global retail ecommerce sales growth rate is calculated according to the given data of global retail ecommerce sales.
Source: Statista.
In 2024, ecommerce sales are estimated to make up 20.3% of retail sales worldwide.
Meanwhile, ecommerce sales accounted for 19.5% of retail sales worldwide in 2023.
Additionally, by the end of 2027, ecommerce sales are forecasted to make up 23% of global retail sales.
The following table displays the share of e-commerce sales in the total retail sales worldwide over the years.
| Year | Share of Ecommerce Sales in Total Retail Sales Worldwide |
| 2027* | 23% |
| 2026* | 22.2% |
| 2025* | 21.2% |
| 2024* | 20.3% |
| 2023 | 19.5% |
| 2022 | 18.9% |
| 2021 | 18.9% |
| 2020 | 17.8% |
| 2019 | 13.8% |
*-Projected Values
Source: Statista.
US retail e-commerce sales are estimated to reach $1.25 trillion in 2024.
This will be a growth of 10.3% in retail ecommerce sales in the United States compared to the previous year.
In 2023, retail ecommerce sales in the United States reached $1.13 trillion, growing by 9.3%.
Plus, by the end of 2027, the US retail ecommerce sales are forecasted to reach 1.72 trillion, with an overall growth of 52.21% between 2023 and 2027.
The following table provides further details about US retail ecommerce sales and its growth rate over the years.
| Year | US Retail Ecommerce sales | US Retail Ecommerce Sales Growth |
| 2027* | $1.72 trillion | 11.3% |
| 2026* | $1.54 trillion | 11.0% |
| 2025* | $1.39 trillion | 10.8% |
| 2024* | $1.25 trillion | 10.5% |
| 2023 | $1.13 trillion | 9.3% |
| 2022 | $1.04 trillion | 8.5% |
| 2021 | $0.96 trillion | 17.3% |
| 2020 | $0.81 trillion | 36.7% |
| 2019 | $0.59 trillion | 15.1% |
| 2018 | $0.52 trillion | 13.2% |
*-Projected values
Source: Insider Intelligence.
Ecommerce Sales By Country
In 2023, China emerged as the top ecommerce market worldwide, with total sales of $3.02 trillion.
That was a YoY growth of 10.4%.
China was followed by the United States, which generated ecommerce sales of $1.16 trillion.
The world’s second most populated country – India, ranked 6th with a total e-commerce sales of $118.9 billion.
The following table provides further details about the countries with the highest ecommerce sales in 2023.
| Country | Ecommerce Sales Generated |
| China | 3,023.66 billion |
| US | 1,163.49 billion |
| UK | 195.97 billion |
| Japan | 193.42 billion |
| South Korea | 147.43 billion |
| India | 118.9 billion |
| Germany | 97.32 billion |
| Indonesia | 97.14 billion |
| Canada | 82.81 billion |
| France | 79.36 billion |
Source: Oberlo.
Retail e-commerce sales are estimated to have the highest growth rate of 11.82% in the United States between 2024 and 2028.
Meanwhile, India is predicted to have the second-highest Retail e-commerce sales growth rate of 11.79%, while China takes the 6th place with a growth rate of 9.95% between 2024 and 2028.
The following table displays the countries with the highest retail ecommerce growth between 2024 and 2028.
| Country | CAGR of Retail eCommerce Sales |
| United States | 11.82% |
| India | 11.79% |
| Mexico | 11.71% |
| Argentina | 10.49% |
| Brazil | 10.38% |
| China | 9.97% |
| Turkey | 9.95% |
| Indonesia | 9.46% |
| Russia | 9.42% |
| South Africa | 9.04% |
Source: Statista.
Global Ecommerce Market Size
The global ecommerce market size is projected to reach $57.22 trillion in 2032.
Comparatively, the global ecommerce market size was $14.14 trillion in 2022 and $16.27 trillion in 2023.
The market is expected to grow at a CAGR of 15% during the forecast period of 2023 and 2032.
The following table displays the global ecommerce market size over the years.
| Year | Global Ecommerce Market Size |
| 2032* | $57.22 trillion |
| 2031* | $49.76 trillion |
| 2030* | $43.27 trillion |
| 2029* | $37.62 trillion |
| 2028* | $32.72 trillion |
| 2027* | $28.45 trillion |
| 2026* | $24.74 trillion |
| 2025* | $21.51 trillion |
| 2024 | $18.71 trillion |
| 2023 | $16.27 trillion |
| 2022 | $14.14 trillion |
*- projected Values
Source: Precedence Research.
Ecommerce Revenue Growth
Ecommerce revenue is predicted to grow at a CAGR of 9.83% between 2024 and 2028
Ecommerce revenue is estimated to reach $3.65 trillion in 2024.
Plus, the market revenue is expected to grow at a CAGR of 9.83%, reaching $5.31 trillion at the end of the forecast period.
The following table displays the forecasted ecommerce market revenue between 2024 and 2028.
| Year | Ecommerce Market Revenue |
| 2024* | $3.65 trillion |
| 2025* | $4.01 trillion |
| 2026* | $4.40 trillion |
| 2027* | $4.83 trillion |
*- Projected Values and calculated values
Source: Statista.
Conclusion: Global Ecommerce Sales Are Predicted To Grow By 37.93% Between 2023 And 2027
After going through all the trusted sources and reports, it is evident that global ecommerce growth will not stop anywhere soon.
It is estimated to grow steadily in upcoming years with the increased adoption of mobile commerce, social commerce, digitalization, and AI technology.
Hence, it will indeed be interesting to observe the growth of ecommerce and witness the trends that promote its adoption.
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