In 2023, global retail e-commerce sales reached an estimated 5.8 trillion U.S. dollars. Projections indicate a 39 percent growth in this figure over the coming years, with expectations to surpass eight trillion dollars by 2027.
Among the key players on the world stage, the Chinese retail giant Alibaba holds the title of the largest e-commerce retailer globally, accounting for a 23 percent market share. Nevertheless, forecasts suggest that by 2027, Seattle-based e-commerce powerhouse Amazon will surpass Alibaba in estimated sales, reaching a staggering 1.2 trillion U.S. dollars in online sales.
Leading e-tailing countries
The Chinese e-commerce market was the biggest worldwide in 2023, as internet sales constituted almost half of the country’s retail transactions. Indonesia ranked second with the highest share of retail sales online (32 percent), closely trailed by the United Kingdom and South Korea, exceeding the 30 percent mark. That year, the up-and-coming e-commerce markets centered around Asia. The Philippines and India stood out as the swiftest-growing e-commerce markets based on online sales, anticipating a growth rate surpassing 20 percent.