E-commerce progress statistics – UK, US and Worldwide forecasts


E-commerce 2023: The most recent knowledge and forecasts for all issues on-line retail progress

It is fascinating to look again at e-commerce progress over the previous couple of years and suppose ahead to the way forward for this trade. As demonstrated by these charts from Statistica, the annual revenues of the US e-commerce trade shot up in 2020 and 2021.

What’s extra, regardless of current progress slowing barely, Statistica Market Insights estimates robust continued progress on this space in 2023 and past.

Revenue of the e-commerce industry in the U.S. 2017-2027

The explanations for this are two-fold – the rise of income from whole retail gross sales, each within the US and worldwide, and in addition stark progress within the % of the entire retail gross sales being e-commerce.

This constitutes a a lot bigger share than beforehand to the pandemic, displaying that a few of the speedy modifications to purchaser habits have remained, and we anticipate to see that proceed.

E-commerce sales as a percentage of retail 2019 - 2025

Equally, we now have watched the general proportion of e-commerce retail gross sales within the UK rising to over a 3rd of all retail within the UK in November 2020 and January 2021. It has since decreased barely, as of December 2022, amounting to only over 1 / 4.

Notably, in each November 2021 and 2022 we did see excessive e-commerce gross sales, which means that consumer procuring habits may be very a lot tied into seasonality, similar to Black Friday.

UK e-commerce stats 2023

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Worldwide E-commerce nation breakdown 2023

The chart beneath from Oberlo’s 2023 e-commerce breakdown by nation predicts a world e-commerce gross sales progress of 8.9%. Utilizing evaluation by eMarketer, the report predicts the best progress within the Philipines, India and Indonesia (all rising over 20% YOY).

Nevertheless, because of scale, US and China will account for greater than 70% of whole e-commerce gross sales.

E-commerce sales by country

E-commerce sector progress: Which sectors have the biggest share of whole gross sales?

As we are able to see within the chart which depicts the state of play for UK on-line retail sectors in early 2023, non-store retailers constituted a big part of e-commerce gross sales with 50% of the entire gross sales accounted.

However, malls made up solely 7% of gross sales. And whereas textile , clothes and footwear classes noticed YOY progress of 4%, family items have been down 7% in Feb 2023.

Office for National Statistics retail types breakdown 2023

What can we study from this as entrepreneurs? There are actually nice alternatives in e-commerce proper now. If you’ll be able to declare market share in your merchandise in 2023, in a rising market, and you may preserve that share, you might be setting your self up for sustainable progress in years to return!

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