Online sales in 2024 are expected to experience considerable growth, according to the eMarketer Global E-commerce Sales Growth Report, published on the Shopify Plus blog . The report indicates that global e-commerce will generate US$6,33 trillion in sales, representing an 8,74% increase compared to 2023.
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In this article, we will present some data from this study and, in addition, list what we consider to be the biggest drivers of online sales today. So keep reading and stay informed on this topic!
ONLINE SALES IN 2024 COULD EXCEED US$6 TRILLION
The eMarketer report points to the growth in online sales between 2021 and 2023, and projects what the growth will be between 2024 and 2027. Check out the study's numbers in the table below:
| Vintage | Sales revenue | Growth percentage |
|---|---|---|
| 2021 | $4,98 trillion | Value not informed |
| 2022 | $5,29 trillion | 6,22 % |
| 2023 | $5,82 trillion | 9,98 % |
| 2024 | $6,33 trillion | 8,74 % |
| 2025 | $6,86 trillion | 8,37 % |
| 2026 | $7,41 trillion | 8,02 % |
| 2027 | $7,96 trillion | 7,42 % |
According to the same study, China and the US are the biggest drivers of global e-commerce and have the largest companies in the sector, such as Amazon and Aliexpress , for example. To give you an idea, total sales in these two countries exceeded US$4 trillion in 2023.
Regardless, online sales are projected to grow by 59,7% in 2027 compared to 2021. This means the average annual growth rate exceeds 8%. Finally, sales are expected to continue increasing after 2027. Due to the accelerators we will mention in the next section, this is highly likely. Stay tuned!
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POSSIBLE E-COMMERCE ACCELERATORS THAT ARE GENERATING MORE ONLINE SALES
Among the main accelerators of online sales in today's world we can mention, for example:
Covid-19 pandemic
The coronavirus crisis locked people in their homes, where they were almost forced to use e-commerce to shop. This accelerated online sales, especially between 2020 and 2022.
Increased internet access
With more and more people accessing the internet , the number of people buying products online is also increasing, further boosting e-commerce.
Popularization of mobile technologies
Cell phones and tablets are becoming increasingly popular with consumers. They offer greater convenience for both viewing and purchasing products.
Furthermore, another very important factor in the growth of online sales is the arrival of digital natives in leadership positions within companies and in the job market. Now, with purchasing power and greater familiarity with the internet and digital devices , these natives not only buy online, but do so more frequently.
E-commerce, therefore, is set to become an increasingly profitable sales channel for businesses in the coming years. Therefore, it's important that you, as a merchant, invest in an online store as soon as possible. And those who already have an online store shouldn't become complacent. On the contrary, they should always keep an eye on innovations and make continuous improvements to progress in the sector.
HOW TO GENERATE MORE ONLINE SALES IN 2024?
To generate more online sales in 2024, rely on the support of Agência e-Plus! An e-commerce and digital marketing agency, Agência e-Plus is certified in the main software for developing and promoting online stores. It masters technologies such as VTEX, Shopify Plus , Nuvemshop, uappi, Vnda, Wake Commerce, Linx Commerce, deco.cx, RD Station, and E-goi, for example. It operates in Costa Rica, Spain, Portugal, Brazil, Argentina, Colombia, and Ecuador, among other countries. You can hire us from anywhere in the world. In fact, to do so right now, click the button below and start a conversation with our team via messaging app:
