China is by far the biggest e-commerce market in the world as seen in figures from the Statista Digital Market Outlook. Last year, e-commerce sales in the country stood at $826.6 billion and that number is projected to nearly double until 2024. This would mean that in 4 years, around 2 in 5 e-commerce dollars could be spent in China.
Yet, markets outside of Europe, China and the U.S. are already growing at a faster rate than the Chinese market. Depending on how fast the Chinese population and workforce will decline in the future, this could mean that the Chinese market could lose some of its prominence further down the line.
In Europe and the U.S., e-commerce is expected to grow by around 50 percent in five years, compared with 80 percent in China.