Retail e-commerce sales, even after the COVID-19 pandemic gains that have occurred over the past 18 months, will continue to grow by double digits through 2023, according to eMarketer.
By 2023, the market research firm projects worldwide retail e-commerce sales will total $6.17 trillion and make up a 22.3% share of total retail sales, up from $3.35 trillion and 13.8% in 2019.
Pandemic persistence in many parts of the world will continue to drive e-commerce growth through the end of 2021, eMarketer noted. After that, worldwide e-commerce sales will continue their upward trajectory, reaching $7.39 trillion by 2025 and making up a 24.5% share of all retail sales, eMarketer stated. In 2022, China’s retail e-commerce sales will surpass 50% of total retail sales in the country and will climb to 56.8% by 2025.
China has by far the largest retail e-commerce market, accounting for a 52.1% share of total worldwide sales. The United States has the second-largest market at 19%. The rest of the world’s e-commerce markets each make up less than a 5% sales share. Rounding out the top five are the United Kingdom at 4.8%, Japan at 3% and South Korea at 2.5%.
In 2020, all 32 markets eMarketer tracks recorded double-digit growth except Argentina, which had triple-digit growth.