Ecommerce Market Expected to Gross $930 Billion This Year

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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, JD.com 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.

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Global Ecommerce Sales Are Expected to Reach $1.4 Trillion by 2016

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According to a report from Deloitte Digital, global ecommerce sales are expected to reach $1.4 trillion by 2016.  Retailers are finally recognizing the huge opportunity of going global with their business.

Discover what the four key trends (drivers) are in global ecommerce growth.

Here's one:

Increase in global shipping: International shipping is seeing its growth driven primarily through flexible shipping options and fulfillment services that provide retailers low-cost/low-risk options for gaining exposure in new areas. With the ability to outsource fulfillment, retailers can reach customers beyond their domestic market without having to invest in building a global infrastructure.