Retail eCommerce sales in 2021 reached approximately US$5.2 trillion worldwide. This figure has grown by about 56% over the past few years, with an expected target of US$8.1 by 2026.
Last year, the eCommerce market in China became the world’s largest, with Internet sales accounting for nearly half of the country’s retail sales. The United Kingdom was second at 36%, followed by South Korea at 32% and Denmark at 20%. The up-and-coming eCommerce markets center around Asia, with the fastest-growing eCommerce countries based on online sales being the Philippines and India. In India, eCommerce sales are forecast to increase by more than 25%.
Chinese retail group Alibaba is the largest eCommerce retailer worldwide, with online sales valued at over US$700 billion in 2022. However, it is expected that Seattle-based eCommerce giant Amazon will surpass Alibaba in sales by 2027, with over US$1.2 trillion in online sales.
Welcome to Our Blog
We want to share our expert knowledge with you, and that is why we want you to know that all of our blogs are written by our in-house writing team.
Our writers do the research, discuss the topics and form their own opinions. They do not write for a commission from any sites, products or services mentioned, and we do not publish advertorials or paid reviews.
We enjoy writing for you and will continue to be transparent about our blogs, which are only opinion pieces.