51 ecommerce statistics for 2024: market size, growth & trends

As we approach the end of 2024, we’re gearing up for what promises to be a landmark year in the world of online shopping.

This year, the ecommerce market is predicted to skyrocket to a staggering $5.5 trillion. What’s driving this incredible growth? It’s a combination of increased digital adoption, a growing consumer trust in online shopping, and leaps in technology. 

And, that’s just the beginning:

Experts project global ecommerce sales could hit $7.3 trillion by 2025 and $8.5 trillion by 2030.

This shift isn’t just happening in online retail; it’s reshaping the B2B sectors as well. Mobile commerce is a significant player in this transformation, alongside evolving online shopper behaviors and expanding internet access in emerging markets. 

These elements are collectively driving the ecommerce boom and opening up new opportunities for businesses worldwide.

In this blog post, we’re diving into 51 key ecommerce statistics that span various facets of the industry—from the lingering impact of COVID-19 and the latest mobile shopping trends to the growth of social commerce.

Let these ecommerce statistics be your compass as you navigate the dynamic ecommerce landscape of 2024!

The impact of COVID-19 on ecommerce: statistics & trends

The COVID-19 pandemic reshaped many aspects of our lives, and one of the most significant changes was in the way we shop.

With the world in lockdown, social distancing measures in place, and consumer habits shifting, online shopping quickly became the go-to option for millions.

This surge in digital commerce effectively catapulted the ecommerce industry ahead by about five years:

• The global ecommerce boom. Between 2019 and 2021, we witnessed a remarkable global increase in ecommerce sales, jumping from $3.5 trillion to over $4.9 trillion. That’s a whopping 25% growth in just two years.
• Retail sales go online. In 2023, ecommerce wasn’t just a trend; it was a major player, making up 20.4% of all global retail sales. And the momentum hasn’t stopped there: by 2026, experts predict that this figure will rise to 24%.
• B2B ecommerce on the rise. It’s not just consumer sales that have skyrocketed; B2B transactions have also experienced unprecedented growth. By 2027, digital sales in the B2B sector are expected to reach $20.9 trillion.

As lockdowns and supply chain challenges pushed both retailers and online shoppers to digital channels, businesses had to adapt quickly. This shift led to increased investment in ecommerce technology, mobile optimization, and enhanced customer service.

Small businesses that made the leap to digital platforms reported a 63% increase in online sales compared to those that didn’t. Even as restrictions have eased, the trend towards online shopping has remained strong. Online shoppers enjoy the convenience, and many have stuck with digital channels.

Industries like health and wellness, home goods, and electronics have particularly benefited, with online penetration rates expected to stay steady or even grow.

So, while the pandemic posed numerous challenges, it also accelerated the evolution of ecommerce. The future of shopping is digital, and it’s only going to get bigger from here.

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The rise of mobile commerce: key statistics & insights

If you’ve noticed that your smartphone is becoming your go-to for all things shopping, you’re definitely not alone. Mobile commerce, or m-commerce as it’s often called, is taking the world by storm, and it’s showing no signs of slowing down.

Let’s dive into some key stats and insights that highlight just how much our shopping habits are evolving:

• Mobile sales are taking over. In 2023, nearly 60% of all ecommerce sales worldwide came from mobile devices. That’s more than half! And guess what? It’s predicted to climb to 72.9% by 2025. What’s driving this surge? It all comes down to the ever-improving user experiences and mobile-friendly interfaces that make shopping on our phones as easy as pie.
• The rise of mobile payments. Gone are the days when credit cards reigned supreme. Digital wallets like Apple Pay, Google Pay, and PayPal are now the preferred payment methods for 61% of online shoppers using their mobiles. It’s all about speed and convenience—two things busy shoppers can’t get enough of.
• Time spent on mobile. These days, we’re glued to our phones for an average of 4 hours a day, and a good chunk of that time is spent shopping online. Weekends and evenings have become prime time for mobile purchases as our buying habits are shifting with our lifestyles.

With more of us shopping on our phones, brands are stepping up their game. They’re optimizing websites and apps to ensure seamless mobile experiences.

Features like one-click purchases, personalized product recommendations, and push notifications are becoming the norm, all designed to keep us engaged and coming back for more.

There’s another trend that’s worth noting: the rise of mobile app commerce. Retailers are investing big in branded apps that not only make shopping a breeze but also encourage repeat purchases.

By 2024, it’s expected that over 85% of smartphone users will make at least one purchase through a mobile app. It’s a golden opportunity for ecommerce brands to build strong customer loyalty through their mobile channels.

So, there you have it—mobile commerce is reshaping the way we shop, making it more convenient, personalized, and engaging than ever before.

Ecommerce in developing countries: stats & opportunities

The growth of ecommerce in developing countries is creating exciting economic opportunities and transforming consumer markets. 

Countries in Asia, Africa, and Latin America are experiencing rapid digital transformation, with ecommerce growth rates often surpassing those in more developed regions:

• A surge in growth. Countries like India, Brazil, and Nigeria are witnessing annual growth rates exceeding 25%. What’s fueling this boom? It’s a cocktail of increased internet access, the rise of mobile technology, and growing digital literacy.
• The expanding online shopper base. By 2024, it’s estimated that 3 billion people in developing nations will have access to the internet. And many of these new netizens are turning into online shoppers. Take Southeast Asia—over 70% of internet users there have dipped their toes into online purchasing. That’s a massive market right there.
• Mobile-first markets. In places where desktop access is limited, mobile commerce (or m-commerce) is king. Africa is a prime example, where nearly 85% of ecommerce transactions happen via mobile devices. Smartphones are often the primary internet gateway, which makes m-commerce not just a convenience, but a necessity.

Of course, this rapid growth isn’t without its hurdles. Many developing regions still grapple with logistical challenges like inadequate infrastructure and limited digital payment options.

But, the good news is that local and international companies are stepping up, improving delivery networks, and expanding mobile money services to make online transactions more accessible. For brands looking to expand, developing markets offer a unique chance to tap into millions of potential new customers.

Ecommerce companies that tailor their approach to meet the specific needs of these regions (think cash-on-delivery options, lightweight mobile apps, and localized content) can secure a strong foothold in these high-growth markets.

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The role of social media in ecommerce: the latest statistics

Platforms like Instagram, Facebook, TikTok, and Pinterest are no longer just about connecting people—they are integral shopping channels that influence buying decisions at every stage of the customer experience.

Social media is shaking up the shopping scene like never before:

• Social commerce: the shopping game changer. According to recent studies, around 71% of online shoppers are influenced by social media during their buying process. Social commerce is booming, with sales expected to hit an incredible $1.3 trillion by 2025. People are loving the seamless experience of shopping directly through their favorite social media apps.
• Top social platforms. When it comes to ecommerce, Instagram and TikTok are the real MVPs, especially among younger folks. Over half of Gen Z users have made a purchase after spotting it on TikTok, and Millennials are showing similar love for Instagram. It’s clear these social commerce platforms are more than just trendsetters—they’re purchasing powerhouses!
• The power of influencer marketing. Partnering with influencers continues to be a top strategy for ecommerce brands. More than 60% of online shoppers are inclined to buy a product recommended by an influencer they admire. It’s all about that connection and trust, which is why influencer partnerships are a goldmine for brands.
• Live shopping & video commerce. Live shopping and video commerce are on the rise, and it’s no surprise. These interactive experiences, wildly popular in Asia, are growing globally at about 20% each year. In fact, live commerce already makes up over 10% of ecommerce sales in China and is quickly catching on elsewhere.

For businesses, jumping into social commerce isn’t just a nice-to-have—it’s essential. Social media offers a direct channel to engage with customers, showcase products, and boost online sales. So, if you’re not already using social commerce, now’s the time to start.

Subscription ecommerce: growth stats & consumer behavior insights

Subscription ecommerce is a game-changing trend that’s reshaping the way we shop online. If you’ve ever enjoyed the thrill of receiving a curated box of goodies or binge-watched your favorite series through a streaming service, you’re already part of this exciting movement.

So, here’s how subscription ecommerce is growing and what it means for online shoppers and brands alike:

• The rise of subscription ecommerce. The subscription ecommerce market is on a rocket ship to success, projected to hit $478 billion by 2025. What’s driving this explosive growth? It’s simple: we all crave personalized and hassle-free shopping experiences. And guess what? North America is leading the charge, making up a significant chunk of the global ecommerce market.
• Popular subscription categories. When it comes to popular categories, subscription services are rocking the beauty, food, streaming, and fitness sectors. Beauty boxes, for instance, have become a favorite for those seeking tailored product recommendations and the excitement of trying new items each month. Who doesn’t love a little surprise on their doorstep?
• Key demographics & trends. Millennials and Gen Z folks are at the forefront of this ecommerce revolution. They’re all about convenience, personalization, and variety. In fact, around 28% of Millennials in the U.S. are subscribed to at least one product or service, which showcases a shift towards regular, subscription-based shopping habits.
• The challenge of keeping online shoppers hooked. Despite its impressive growth, subscription ecommerce isn’t without its hurdles. One major challenge is keeping subscribers from jumping ship. High churn rates can be a pain, as people cancel subscriptions due to product fatigue, delivery hiccups, or tightening budgets. Did you know that 35% of online shoppers cancel within the first three months? That’s why it’s crucial for brands to consistently deliver value and a top-notch experience to maintain loyalty.

With the right approach, subscription ecommerce offers brands a golden opportunity to forge long-lasting relationships with their customers.

By tapping into online shopping statistics, companies can refine and personalize their offerings to boost customer satisfaction and retention rates. It’s all about making sure every delivery feels like a gift.

Print-on-demand: key stats & trends

Print-on-demand (POD) has emerged as a powerful solution for entrepreneurs, artists, and creators who want to sell custom products without the hassle of managing inventory. It’s like having a magic button that only prints your designs when someone places an order. 

This means more flexibility and less risk for sellers, while giving online shoppers access to unique and often personalized products:

• Market growth & size. The global POD market is on track to hit $10 billion by 2025. Why? Because more businesses and individuals are jumping on the bandwagon, thanks to its affordable entry point. This growth spurt owes a lot to the online shopping boom and the rising demand for one-of-a-kind, customized products that you just can’t find on regular store shelves.
• Popular POD product categories. When it comes to POD, apparel is the superstar, with t-shirts alone making up about 40% of online sales. But don’t count out other popular items like mugs, phone cases, hoodies, and home decor. These products are all the rage because they offer endless customization options—from niche designs to personalizing with names or images—which is something that appeals to a broad audience.
• Demographic appeal & trends. Millennials and Gen Z are head over heels for POD. They love unique, statement-making pieces that showcase their personal identity and taste. This makes them a crucial demographic for POD businesses. Younger online shoppers are especially keen on investing in custom items that help them stand out or support causes they’re passionate about.
• Sustainability advantages. POD wins big in the sustainability department too. Compared to traditional retail, it’s generally more eco-friendly because items are only produced when ordered, which means less excess inventory and waste. This is a huge plus for eco-conscious online shoppers looking to minimize their environmental footprint. And this green trend isn’t going anywhere—it’s set to keep increasing POD’s popularity.

Print-on-demand opens doors for both newcomers and established businesses to diversify their product lines without shelling out significant upfront costs. With ongoing advancements in digital printing and a growing love for personalization, POD is poised to stay a major player in the ecommerce world.

Selling digital products: revenue statistics & market trends

The digital products market is an exciting and essential part of the e-commerce world these days. It’s booming thanks to its low overhead costs, the ability to scale without limits, and the growing appetite for accessible online resources.

Imagine reaching a global audience with your ebooks, courses, software, or graphic assets—all without the hassle of managing physical inventory:

• Market growth & revenue. We’re seeing some impressive growth here. The global digital products market is on track to $331 billion by 2025. This rapid expansion is fueled by more and more people turning to online education, remote work tools, and downloadable content. The shift to remote work has definitely played a role in driving demand for productivity tools, templates, and skill-building courses.
• Popular product categories. When it comes to what’s flying off the digital shelves, ebooks, online courses, software, and graphic design assets are leading the way. These categories cater to a wide range of needs, from personal development to essential business tools. Educational courses, in particular, are projected to grow by a healthy 10% annually over the next five years.
• Demographics & consumer preferences. Millennials and Gen Z are the biggest fans of digital products. They’re practically digital natives, after all, and they love on-demand content. Gen Z is especially fond of educational and creative resources like online courses and design templates. Meanwhile, Millennials are investing in productivity tools and professional development resources.
• Subscription-based models. The subscription model is making waves in the digital products space. It provides a steady stream of recurring revenue and is a win-win for online shoppers and creators alike. By offering subscription access to digital libraries, software, and exclusive content, platforms can keep online shoppers coming back for more.
• Profit margins & scalability. One of the biggest perks of selling digital products is the high profit margins. There’s no need to worry about shipping, handling, or storage costs. Once a digital product is created, it can be sold over and over again without incurring additional expenses. This makes it a highly scalable and profitable venture for e-commerce entrepreneurs.

All in all, selling digital products is a lucrative and scalable business model. It’s especially appealing for businesses that value flexibility and high profit potential. As digital solutions continue to gain traction, the demand for well-crafted digital products is set to keep growing in the years ahead.

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Key takeaways for the future of ecommerce in 2024

As we move further into 2024, the ecommerce landscape shows no signs of slowing down. Mobile commerce is taking over in a big way, and social shopping is skyrocketing.

This is an exciting time for anyone involved in online businesses!

To really shine in this landscape, keeping up with the latest trends and ecommerce statistics is key. We’re seeing a big rise in digital products and a shift towards more sustainable shopping options.

For businesses aiming to thrive, these are areas you definitely want to keep an eye on.

Here’s a mind-blowing fact:

By 2025, the ecommerce market is expected to hit nearly $7 trillion.

This growth is fueled by amazing technological advancements, changing online shopper needs, and more people getting online across the globe. 

To stay ahead of the game, ecommerce brands should focus on creating seamless mobile experiences, engaging with customers through social media, and finding fresh ways to connect with the tech-savvy crowd.

This year’s ecommerce statistics highlight some fantastic opportunities you won’t want to miss. Think about investing in data-driven strategies, optimizing your mobile interfaces, going green, and exploring new markets. These are essential moves for finding success.

By focusing on these important areas, businesses can tackle challenges like the shopping cart abandonment rate, adapt to changing consumer behaviors, and continue to grow in this fast-paced ecommerce world.

Let’s make 2024 the year of ecommerce success!