Friday, June 21, 2024

Ecommerce Market Expected to Gross $930 Billion This Year

The U.S. e-commerce market is projected to gross $930 billion this year, up 15% from 2023, and constitute 25% of the world's total online retail sales. 

However, Statista data analysis indicates the Asian e-commerce industry, spurred by online retail giants such as Alibaba, AliExpress, and Rakuten, will gross $1.93 trillion in 2024, 16% more than in 2023 and accounting for more than half of global e-commerce revenue.

Statista expects around 300 million more people to utilize e-commerce sites and shopping apps this year, pushing the total user count to more than 3.4 billion, or 42% of the world's population.

Read more here.

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