In 2023 global eCommerce market will cross the two trillion US$ threshold. With US$1,318.7 billion in sales in 2023, China is clearly number one in eCommerce and the report shows it will stay in the lead through 2027.
A shift in purchasing power from the U.S. and Europe to China and Southeast Asia has begun, fueled by the growing number of Asian consumers gaining access to eCommerce due to growing purchasing power and internet penetration, especially on mobile devices.
Comparing the three major eCommerce markets – the U.S., China, and Europe – China was the biggest market in 2023 and will stay in the lead through 2027.Statista / eCommerce report 2023
The Chinese market is worth US$1,318.7 billion in 2023, with Electronics being the biggest market. Revenues are expected to grow at a CAGR(1) of 12.2% up to 2027, resulting in revenues of US$2,088.2 billion.
In other words, the Chinese market is expected to show the largest growth rates of the three major regions.Statista / eCommerce report 2023
In the U.S. market, revenues of US$925.4 billion were generated in 2023.
Judging from the CAGR of 11.2%, the market is expected to exceed China’s revenues, reaching $1415.8 billion by 2027.
The third biggest eCommerce market in 2022 is Europe with revenues of 631.9 billion. Annual growth of 9.3% will lead to revenues of US$902.3 billion by 2027.
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