Global Ecommerce Sales Growth (2022–2028)
Recent ecommerce growth statistics show the online shopping market continues to grow rapidly, outpacing traditional retail sales and reshaping the global retail landscape. In this article, we explore the recent and projected online shopping rates from 2022 to 2028, providing insights into the trends and factors driving this significant transformation in consumer behavior and retail dynamics.
Key data on global ecommerce sales growth
- The global ecommerce growth rate is projected to be 8.4% in 2024, to reach $6.09 trillion.
- Ecommerce sales growth rates are expected to decelerate from 2023 to 2028, hitting $8.09 trillion in total sales by 2028.
- The growth rate of ecommerce consistently outpaces that of total retail sales, indicating a continued shift in consumer preference toward online shopping over traditional retail channels.
Ecommerce growth rate: table
|
Year |
Global ecommerce growth rate |
|
2022 |
6.0% |
|
2023 |
9.7% |
|
2024 |
8.4% |
|
2025 |
7.8% |
|
2026 |
7.5% |
|
2027 |
7.2% |
|
2028 |
6.9% |
Ecommerce sales growth in 2024
The global ecommerce growth rate for 2024 is forecast at 8.4%, bringing global ecommerce sales worldwide to $6.09 trillion.
According to experts’ forecasts, global ecommerce sales growth is set to continue, albeit at a slightly slower pace. Ecommerce’s growth rate worldwide is expected to decelerate to 7.8% in 2025, which will bring total ecommerce sales to $6.56 trillion. In 2026, the growth rate is expected to further decrease to 7.5%, as overall sales rise to $7.06 trillion. By 2027, revenues from online sales are set to hit $7.57 trillion, following a rise of 7.2%. In 2028, online shopping growth is expected to slow further to 6.9%, reaching $8.09 trillion in total sales.
From 2022 to 2028, the largest annual online retail growth took place in 2023, with a rate of 9.7%, and the smallest is set to happen in 2028 with a growth rate of 6.9%. Experts predict that in this period, total sales will increase by nearly $3 trillion. This is an overall rise of 57.9% and marks an average annual growth rate of approximately 7.6%.
Ecommerce growth rate vs. retail growth rate
Global ecommerce sales growth is set to outpace that of retail sales every year from 2023 to 2027—an indication of shoppers’ preference for online shopping.
In 2024, total retail sales worldwide are expected to rise to $31.1 trillion, marking an increase of 4.9% from 2023. This is 3.5 percentage points lower than the global rate. In subsequent years, the gap between ecommerce and retail growth rates is projected to remain, with ecommerce consistently outpacing traditional retail growth, which is expected to slow to 3.6% by 2027.
Ecommerce sales growth: ranked by country
|
Country |
Online retail growth rate (2023) |
|---|---|
|
1. Mexico |
25.1% |
|
2. Philippines |
24.1% |
|
3. Malaysia |
18.0% |
|
4. Argentina |
17.0% |
|
5. Brazil |
15.4% |
|
6. India |
15.0% |
|
7. Russia |
14.0% |
|
8. Japan |
12.7% |
|
9. Vietnam |
12.0% |
|
10. China |
11.4% |
In which parts of the world is ecommerce experiencing the fastest growth?
Recent data shows that in 2023, the online shopping trend grew the most in Mexico. Sales from online purchases there rose by as much as 25.1% year on year.
In the Philippines, the country with the second-biggest online retail growth, this is set to increase by 24.1%. Malaysia and Argentina rank next, with annual growth rates of around 17.5% each. Brazil rounds out the five countries with the largest online retail growth rates, with 15.4%.
India ranks next, with an online retail growth rate of 15% in 2023. Russia follows closely behind, with 14%, ahead of Japan, whose ecommerce sales grew by 12.7%. Vietnam and China complete the list, with 12% and 11.4%, respectively.
Six of these 10 above-mentioned countries are located in Asia. Of these, half are Southeast Asian countries, which highlights the region’s growing reliance on online shopping and potential for aspiring ecommerce entrepreneurs.