Worldwide retail e-commerce sales will account for one-fifth (20.1%) of overall retail sales this year, totaling $6.334 trillion, according to a forecast by EMarketer.
In the following three years, global e-commerce expansion will progressively decrease, per EMarketer’s Worldwide Retail Ecommerce Forecast 2024 report.
Latin America will experience the most rapid e-commerce growth rate among the markets this year, at 15.8%, whereas Western Europe will experience the weakest at 6.4%.
China will continue to dominate global e-commerce sales, accounting for over half of the total in 2024, with revenue of $3.235 trillion.
According to the report, the United States ranks second with $1.251.051 trillion in e-commerce sales this year, followed by the United Kingdom with $220.55 billion.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
