Global e-commerce sales are projected to reach $6.09 trillion in 2024, up from $5.62 trillion in 2023, reflecting an 8.4% e-commerce growth.
China continues to lead as the largest e-commerce market globally, with a market size of $1.26 trillion as of 2024, while Turkey stands out as the fastest-growing e-commerce market worldwide, with a compound annual growth rate (CAGR) of 11.58% between 2024 and 2029.
Meanwhile, the U.S. e-commerce market alone is expected to hit $1.22 trillion in 2024.
In this article, let’s go through the latest facts and figures about e-commerce sales, e-commerce sales growth, and e-commerce sales in the United States and other countries worldwide.
eCommerce Growth Statistics 2024: Key Takeaway
- Global e-commerce sales are expected to grow by 8.4% in 2024, reaching around $6.09 trillion.
- E-commerce will account for 20.1% of all retail sales worldwide in 2024, up from 19.4% in 2023.
- The global B2B e-commerce market is projected to grow at a CAGR of 14.5% from 2024 to 2026.
- U.S. e-commerce sales are set to reach $1.22 trillion in 2024, showing a 10.95% year-over-year increase.
- China remains the world’s largest e-commerce market, valued at $1.26 trillion as of 2024.
- Turkey is expected to be the fastest-growing e-commerce market, with a CAGR of 11.58% from 2024 to 2029.
Global Ecommerce Sales Growth
Global eCommerce sales are projected to grow by 8.4% in 2024, bringing the total to an estimated $6.09 trillion this year.
In comparison, global eCommerce sales in 2023 were valued at $5.62 trillion.
Looking ahead to 2028, eCommerce sales worldwide are expected to reach $8.09 trillion, marking an increase of $2 trillion from the 2024 forecast.
Here is a table displaying the ecommerce sales growth worldwide by year:
| Year | Global eCommerce Sales | Annual Change |
|---|---|---|
| 2022 | $5.13 trillion | 6.0% |
| 2023 | $5.62 trillion | 9.7% |
| 2024* | $6.09 trillion | 8.4% |
| 2025* | $6.56 trillion | 7.8% |
| 2026* | $7.06 trillion | 7.5% |
| 2027* | $7.57 trillion | 7.2% |
| 2028* | $8.09 trillion | 6.9% |
*- Projected Values
Source: Shopify
Retail e-commerce Sales Worldwide
According to Statista, retail ecommerce sales worldwide are estimated to reach $6.330 trillion in 2024.
That’s an estimated increase of $0.55 trillion compared to the retail ecommerce sales recorded in 2023.
Further, retail ecommerce sales are expected to reach $8.034 trillion.
Here is a table displaying the retail e-commerce sales growth worldwide:
| Year | Retail e-commerce Sales Worldwide | Percentage Increase |
|---|---|---|
| 2027* | $8.034 trillion | 7.6% |
| 2026* | $7.467 trillion | 8.6% |
| 2025* | $6.876 trillion | 8.6% |
| 2024* | $6.330 trillion | 9.4% |
| 2023* | $5.784 trillion | 8.9% |
| 2022 | $5.311 trillion | 6.5% |
| 2021 | $4.988 trillion | 17.4% |
| 2020 | $4.248 trillion | 26.8% |
| 2019 | $3.351 trillion | 12.4% |
| 2018 | $2.982 trillion | 25.2% |
| 2017 | $2.382 trillion | 29.1% |
| 2016 | $1.845 trillion | 19.2% |
| 2015 | $1.548 trillion | – |
*- Projected Values
Source: Statista
E-commerce Retail Sales Growth
In 2024, eCommerce is projected to make up 20.1% of all retail sales globally, up from 19.4% in 2023.
Looking ahead, eCommerce is expected to grow even further by the end of 2027, accounting for 22.6% of total retail sales worldwide.
This steady increase highlights the growing importance of online shopping in the global retail landscape.
Here is a table displaying the share of ecommerce sales in total retail sales worldwide:
| Year | Share Of Retail Sales |
|---|---|
| 2027* | 22.6% |
| 2026* | 21.8% |
| 2025* | 21% |
| 2024* | 20.1% |
| 2023 | 19.4% |
| 2022 | 18.7% |
| 2021 | 18.8% |
*- projected values
Source: Statista
Global B2B Ecommerce Growth
The global B2B ecommerce market is estimated to grow at a CAGR of 14.5% between 2024 and 2026.
In 2024, the global B2B ecommerce market is estimated to reach $28.082 billion. Comparatively, in 2023, it was valued at $24.453 billion.
Further, by the end of 2026, the market is estimated to be valued at $36.16 billion.
Here is a table displaying the B2B eCommerce market growth by year:
| Year | GMV ($) | Percentage Increase |
|---|---|---|
| 2026* | 36.16 billion | 12.57% |
| 2025* | 32.12 billion | 14.39% |
| 2024* | 28.08 billion | 14.85% |
| 2023 | 24.45 billion | 16.33% |
| 2022 | 21.02 billion | 17.57% |
| 2021 | 17.88 billion | 20.22% |
| 2020 | 14.87 billion | 11.79% |
| 2019 | 13.3 billion | 17.89% |
| 2018 | 11.33 billion | 15.16% |
| 2017 | 9.84 billion | – |
*- projected values
Source: International Trade Administration
eCommerce Market Size By Country
China is the biggest ecommerce market worldwide, with a market size of $1.26 trillion.
Following closely behind, the United States ranks second with an eCommerce market valued at $1.07 trillion.
Japan and the United Kingdom are in third and fourth place, with market sizes of $151.03 billion and $118.26 billion, respectively.
Here is a table displaying the largest ecommerce markets worldwide asof 2023:
| Rank | Country | Ecommerce Market Size ($) |
|---|---|---|
| 1 | China | 1,256.14 billion |
| 2 | United States | 1,065.68 billion |
| 3 | Japan | 151.03 billion |
| 4 | United Kingdom | 118.26 billion |
| 5 | Germany | 89.71 billion |
| 6 | South Korea | 78.04 billion |
| 7 | France | 60.59 billion |
| 8 | Canada | 58.69 billion |
| 9 | India | 50.94 billion |
| 10 | Indonesia | 45.13 billion |
Source: Oberlo
Fastest Growing Retail E-Commerce Market
Turkey is projected to be the fastest-growing eCommerce market globally, with an impressive compound annual growth rate (CAGR) of 11.58% between 2024 and 2029.
Brazil is expected to follow closely behind, growing at an 11.56% CAGR, while India ranks third with an 11.45% CAGR.
Other rapidly expanding eCommerce markets include Mexico, Russia, and Argentina, highlighting the global surge in online shopping across diverse regions.
Here is a table displaying the fastest-growing eCommerce markets worldwide between 2024 to 2029:
| Country | CAGR Between 2024 To 2029 |
|---|---|
| Turkey | 11.58% |
| Brazil | 11.56% |
| India | 11.45% |
| Mexico | 11.26% |
| Russia | 10.95% |
| Argentina | 10.55% |
| South Africa | 10.42% |
| China | 9.95% |
| Italy | 9.94% |
| Canada | 9.76% |
| Spain | 9.72% |
| Indonesia | 9.57% |
Source: Statista
US eCommerce Sales Growth
U.S. eCommerce sales are projected to hit $1.22 trillion in 2024, a 10.95% YoY increase.
In comparison, US eCommerce Sales reached $1.1 trillion in 2023, displaying an increase of 8.9% in the year.
Meanwhile, the most significant growth was seen in 2020, with US eCommerce sales surging by 41.7%.
Here is a table displaying the US ecommerce sales and growth recorded over the years:
| Year | US eCommerce Sales | Change From Previous Year |
|---|---|---|
| 2024* | $1,223.0 billion | 10.95% |
| 2023 | $1,102.2 billion | 8.9% |
| 2022 | $1,012.2 billion | 6.5% |
| 2021 | $950.5 billion | 17.8% |
| 2020 | $807.1 billion | 41.7% |
| 2019 | $569.4 billion | 12.4% |
| 2018 | $506.7 billion | 14.5% |
| 2017 | $442.4 billion | 15.4% |
| 2016 | $383.5 billion | 13.7% |
| 2015 | $337.3 billion | 13.6% |
| 2014 | $297.0 billion | 14% |
| 2013 | $260.5 billion | 12.7% |
*- projected values
Source: Sellers Commerce
Quarterly US eCommerce Sales
U.S. eCommerce sales reached $291.64 billion in the second quarter of 2024, reflecting a 1.31% increase from the $287.85 billion recorded in Q1 2024.
In comparison, eCommerce sales in the final quarter of 2023 were $283.29 billion.
Here is a table displaying the US ecommerce sales by quarter:
| Time | US eCommerce Sales | Change From The Previous Quarter |
|---|---|---|
| Q1 2020 | $154.57 billion | -1.28% |
| Q2 2020 | $203.85 billion | 31.88% |
| Q3 2020 | $201.38 billion | -1.21% |
| Q4 2020 | $199.66 billion | -0.85% |
| Q1 2021 | $234.44 billion | 17.41% |
| Q2 2021 | $241.12 billion | 2.84% |
| Q3 2021 | $240.37 billion | -0.31% |
| Q4 2021 | $244.14 billion | 1.56% |
| Q1 2022 | $252.86 billion | 3.57% |
| Q2 2022 | $258.17 billion | 2.09% |
| Q3 2022 | $264.03 billion | 2.26% |
| Q4 2022 | $264.69 billion | 0.24% |
| Q1 2023 | $266.31 billion | 0.61% |
| Q2 2023 | $272.82 billion | 2.44% |
| Q3 2023 | $279.74 billion | 2.53% |
| Q4 2023 | $283.29 billion | 1.26% |
| Q1 2024 | $287.85 billion | 1.59% |
| Q2 2024 | $291.64 billion | 1.31% |
Source: Sellers Commerce
Share Of eCommerce Sales In Total Retail Sales
In the first half of 2024, eCommerce made up 15.90% of total retail sales in the United States.
In 2023, eCommerce accounted for 15.30% of the country’s total retail sales.
By contrast, back in 2013, eCommerce represented only 8.78% of retail sales in the U.S., showcasing the significant growth of online shopping over the years.
Here is a table displaying the Share of eCommerce sales in total retail sales worldwide:
| Time | Share Of eCommerce Sales In Total Retail Sales |
|---|---|
| 2024 (Up to Q2) | 15.90% |
| 2023 | 15.30% |
| 2022 | 14.38% |
| 2021 | 14.60% |
| 2020 | 14.53% |
| 2019 | 10.55% |
| 2018 | 9.63% |
| 2017 | 8.78% |
Source: Sellers Commerce
Revenue Of US eCommerce Industry (Projections)
Projections indicate that eCommerce sales will soar to $1,880.68 billion by 2029.
In 2023, eCommerce sales reached $1,065.68 billion, which is expected to climb to $1,222.85 billion in 2024.
This consistent growth reflects the increased online shopping and the evolving retail industry in recent years.
Here is a table displaying the US eCommerce industry revenue:
| Year | eCommerce Industry Revenue US ($) | Percentage Increase |
|---|---|---|
| 2029* | 1,880.68 billion | 4.71% |
| 2028* | 1,796.11 billion | 6.58% |
| 2027* | 1,685.41 billion | 9.40% |
| 2026* | 1,540.59 billion | 11.49% |
| 2025* | 1,381.74 billion | 12.99% |
| 2024* | 1,222.85 billion | 14.74% |
| 2023 | 1,065.68 billion | 12.90% |
*- projected values
Source: Statista
E-commerce Share Of U.S. Retail Sales (Projections)
The ecommerce sales are estimated to account for 16.60% of the retail sales in the United States in 2024.
Comparatively, in 2023, eCommerce accounted for 15.6% of total retail sales.
This upward trend is expected to continue, with eCommerce projected to make up 20.6% of U.S. retail sales by 2027. This data highlights the steady shift towards online shopping and the increase in eCommerce in the United States, especially in recent years.
Here is a table displaying the share of ecommerce sales in retail sales in the United States:
| Year | E-commerce Share of U.S. Retail Sales |
|---|---|
| 2027* | 20.60% |
| 2026* | 19.10% |
| 2025* | 17.80% |
| 2024* | 16.60% |
| 2023 | 15.6% |
*- projected values
Source: Statista
Conclusion: The eCommerce Industry Is Estimated To Grow By 8.4% In 2024
eCommerce continues to reshape global retail, with sales expected to reach $6.09 trillion in 2024, up from $5.62 trillion in 2023. This steady growth has positioned eCommerce to account for 20.1% of total retail sales worldwide.
The U.S. market is also thriving, with eCommerce sales projected to hit $1.22 trillion in 2024. Emerging markets, such as Turkey, Brazil, and India, are experiencing the fastest growth, with Turkey leading the charge at an 11.58% CAGR.
Looking ahead, eCommerce sales worldwide are projected to reach $8.09 trillion in 2028, while e-commerce sales in the United States are forecasted to reach $1.88 trillion.
