70 eCommerce Stats and Trends You Should Know in 2023

E-commerce is the process of buying and selling products and services online. Customers use electronic payments to make purchases on websites and online stores. Many merchants use an e-commerce platform to manage all transactions related to online sales.

Owning an e-commerce business is becoming a popular technique for making money. E-commerce has been around since Amazon started selling books in the early 1990s, but it has grown tremendously in recent years.

Read on for e-commerce statistics and use insightful data to analyze your business workflow.

Global e-commerce statistics

Global e-commerce is the sale of goods or services outside the geopolitical boundaries of a company's home country, usually referred to as the site of its creation or incorporation. Online sales and marketing is used to market and sell in non-native markets.

Below is a list of key e-commerce statistics that reveal how the digital world has changed the shopping experience in the physical world.

Global e-commerce sales reached an astonishing $4.9 trillion in 2021, and are expected to reach $6.4 trillion by 2024. In 2021, 2.14 billion people worldwide made purchases online. The online grocery market could reach $334 billion by 2025. By 2025, the global online fashion market will reach $1,002 billion. Consumers say free shipping increases their willingness to shop online by 49%. 77% of online shoppers read product reviews before making a decision. 54.8% of all e-commerce sales in 2021 were made through mobile devices. The average e-commerce conversion rate is around 2.58%.

is the estimated size of the global e-commerce market in 2023, and this figure is expected to reach $8 trillion by 2026.

Source: Statista

Argentina's online retail market will grow by more than 25%, surpassing all other U.S. countries. With $1.8 trillion in revenue, Asia tops the list for e-commerce. In 2023, China could have a $43.67 billion lead in the global footwear e-commerce market. Between 2023 and 2027, Brazil will be the world leader in the development of retail e-commerce. Statistics of the biggest e-commerce companies

E-commerce is a booming business that has transformed the way people buy and sell things online. While many customers primarily identify e-commerce with buying things, it refers to all commercial transactions made possible by the Internet. E-commerce has grown due to the expansion of traditional brick-and-mortar stores like Target and Best Buy and globally recognized online marketplaces with a digital native business model, like Amazon and Alibaba.

Let's explore more stats on top e-commerce companies to see how they're doing in their industry.

In 2022, Alibaba Group ranked the top global internet retailer. Up to 57% of online shoppers acknowledged doing business internationally. For e-commerce businesses, Facebook advertising has an average conversion rate of 9.21%. After watching a video ad, YouTube visitors are 1.9 times more likely to make a purchase. In 2021, 55% of online shoppers said they bought something after seeing it in a Facebook Story.

is Amazon's e-commerce market share in the United States.

Source: Forbes

Compared to those redirected to an external website, Instagram Checkout users are 70% more likely to complete their transactions. For online marketers, the "TrueView for Shopping" ad format on YouTube has resulted in a three-fold increase in conversion rates. Walmart's U.S. online sales totaled $64.9 billion in 2021. Mobile e-commerce statistics

E-commerce companies have been improving their mobile user experience for years to increase online sales. Any transactional activity performed through a mobile device is called mobile commerce or m-commerce. Convenience is one of the causes of the increase. Consumers can purchase goods and services while on the go.

The statistics below show just how...