eCommerce report 2023

Market Insights report

eCommerce report 2023 In 2023 global eCommerce market will cross the two trillion US$ threshold. With US$1,649.4 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.

What's included?
  • All relevant eCommerce data, including market size & forecasts for the next five years
  • Regional development with the focus regions & countries: U.S., China, Germany, UK, France, Spain, Italy and Europe as a region
  • Key players and startup analysis
  • Trends and market developments
DescriptionContentTables

With this report we provide a comprehensive overview of the state of the eCommerce market as it is today as well as a prognosis with detailed information on 8 segments and their 36 different market sub-segments in the areas of Electronics, Fashion, Furniture, Toys, Hobby & DIY, Beauty, Health, Personal & Household Care, Food, Beverages, and Media.

Besides all relevant market figures like total and average revenues, and user numbers for the years from 2023 to 2027, we furthermore give detailed insights into current trends, key players and important background information on the eCommerce market. We show selected key market drivers, online shopping attitudes, and cross-border shares. Furthermore, besides our known focus regions U.S., China and Europe, we also provide detailed figures on the top 5 EU countries to enable more insights into the market.

The eCommerce market has evolved from a simple counterpart of brick and mortar retail to a shopping ecosystem that involves multiple devices and store concepts. Now, when looking at the eCommerce landscape, we see a relatively mature market with established players and a clear set of rules. But this impression can be misleading – the digital transformation is not over yet and is unlikely to ever come to a halt, driven by the flow of innovation coming from numerous start-ups and a growing cashflowfrom fast-developing Asian economies. In spite of a slowing Chinese economy, a shift in purchasing power from the U.S. and Europe to China and Southeast Asia has begun, fueled by the growing number of 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. The Chinese market is worth US$1,156.3 billion in 2023, with Electronics being the biggest segment. Revenues are expected to grow at a CAGR(1) of 7.4% up to 2027, resulting in revenues of US$1,649.4 billion. In other words, the Chinese market is expected to show the largest growth rates of the three major regions. In the U.S. market, revenues of US$904.9 billion were generated in 2023. Judging from the CAGR of 13.5%, the market is expected to exceed evenues of US$1702.9 billion by 2027. The third biggest eCommerce market in 2022 is Europe with revenues of 662.5 billion. An annual growth of 14.5% will lead to revenues of US$1304.13 billion by 2027.

Note: CAGR: Compound Annual Growth Rate / average growth rate per year

  • Language: English
  • Released: January 2023
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