Global E-commerce Continues to Experience Rapid and Sustainable Growth
The global e-commerce market is expected to reach $6.3 trillion in 2024, according to data from the E-commerce Manual for African Women Entrepreneurs. Forecasts indicate that the market will surpass $7.9 trillion by 2027, confirming that e-commerce is now a central pillar of the global economy. This expansion is driven by clear structural factors, including:
- Widespread internet connectivity
- Massive use of smartphones
- Digitalization of consumption patterns, transforming buying habits
With over 5 billion internet users, online shopping has become a global reflex rather than an alternative.
Global E-commerce Leaders
The top countries in global e-commerce are:
- China: dominates the global e-commerce market with $2.78 trillion in annual online sales, accounting for 52% of total retail sales. This performance is driven by a highly integrated digital ecosystem, led by Taobao, Alibaba, and Tmall. The Chinese market has an annual growth rate of 21%, confirming its role as a global locomotive.
- United States: ranks second globally, with online sales reaching $843 billion per year, representing 19% of total retail sales. The US market remains solid and structured, driven by major players like Amazon and eBay. Growth is more moderate, but the level of maturity and innovation remains high.
- United Kingdom: ranks third globally, with online sales reaching $169 billion per year. E-commerce accounts for approximately 4.8% of retail sales. Platforms like Amazon UK, eBay UK, and Asos support a dynamic market, particularly in fashion and cross-border digital commerce.
Other Key Markets
Other countries are strengthening their positions in the global e-commerce market, including:
- Japan: with a market of around $160 billion
- Germany: with a market of $140 billion
- South Korea: with a market of $120 billion
- France: reaching $80 billion
- India: with a rapidly growing market of around $75 billion
Other markets confirming the globalization of e-commerce include:
- Canada: reaching $60 billion
- Brazil: around $50 billion
- Australia: $45 billion
- Italy: $40 billion
- Russia: $35 billion
Source: African Development Bank (BAD)
