E-commerce as share of total retail sales worldwide 2021-2027

Internet sales have played an increasingly significant role in retailing. In 2023, e-commerce accounted for over 19 percent of retail sales worldwide. Forecasts indicate that by 2027, the online segment will make up close to a quarter of total global retail sales.

Retail e-commerce

Online shopping has grown steadily in popularity in recent years. In 2021, global online retail sales amounted to almost five trillion U.S. dollars, a figure expected to exceed seven trillion U.S. dollars by 2025. Digital development in Latin America boomed during the COVID-19 pandemic, generating unprecedented e-commerce growth in various economies across the region. So much so that Brazil and Argentina appear to lead the world's fastest-growing online retail markets. This trend correlates strongly with the constantly improving online access, especially in "mobile-first" online communities, which have long struggled with traditioe-comernal fixed broadband connections due to financial or infrastructure constraints but enjoy the advantages of cheap mobile broadband connections.

M-commerce on the rise

The average order value of online shopping via smartphones and tablets still lags traditional e-commerce via desktop computers. However, e-retailers around the world have caught up in mobile e-commerce sales. Online shopping via smartphones is particularly prominent in Asia. By the end of 2021, Malaysia was the top digital market based on the percentage of the population that had purchased something by phone, with nearly 45 percent having made a weekly mobile purchase. South Korea, Taiwan, and the Philippines completed the top of the ranking.