Worldwide ecommerce sales to break $6 trillion, make up a fifth of total retail sales

Key stat: Worldwide retail ecommerce sales will make up a fifth (20.1%) of total retail sales this year, totaling $6.334 trillion, per our forecast.

Beyond the chart:

• Worldwide ecommerce growth will slow gradually over the next three years, according to our Worldwide Retail Ecommerce Forecast 2024 report.
• In the markets we track, Latin America will have the fastest ecommerce growth rate at 15.8% this year, while Western Europe will have the slowest at 6.4%.
• More than half of worldwide ecommerce sales in 2024 will come from China, which retains the No. 1 place, raking in $3.235 trillion. The US comes in second ($1.251 trillion) with the UK trailing in third, with $220.55 billion in ecommerce sales this year, per our forecast.

Use this chart:

• Illustrate ecommerce’s growing share of total retail sales worldwide.
• Adjust ecommerce strategy to align with future trends.

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Methodology: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues of major online retailers, consumer online buying trends, and macro-level economic conditions.