Ecommerce Share of Retail Sales (2021–2026)
With the rising dominance of online shopping, it’s no surprise that the ecommerce share of retail sales has been on the increase in recent years.
The numbers surrounding the growth of online shopping say it all. Just last year, the online retail market share was at 18.8%. That is to say that of every $100 spent by consumers, $18.80 was online.
In 2022, this figure is expected to grow to 19.7% to total $5.7 trillion in global ecommerce sales. This is a 0.9 percentage percent increase in the ecommerce market share in just one year. Experts say this figure is largely influenced by China, which is responsible for more than half of the total ecommerce sales worldwide and where nearly half (45.3%) of their total retail sales are realized online.
Nevertheless, global ecommerce share of retail sales is set to continue to grow and reach 24% by 2026—a 5.2 percentage point increase in just over half a decade.
The growing ecommerce market share should come as no surprise, given the increased accessibility and affordability of mobile devices, as well as increased internet access worldwide.
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Ecommerce Market Share in the US
In 2022, the ecommerce market share in the US is expected at 15%, totaling just over $1 trillion in ecommerce sales. This figure is set to continue rising over the next few years. In 2023, the US ecommerce market share is forecast at 16.4%. It is set to increase further to 17.8% and 19.4% in 2024 and 2025, respectively.
By 2026, this will have surpassed 20% to hit 21.2%, bringing the total retail ecommerce sales to $1.7 trillion. In other words, of every $100 spent on US consumers, more than $21 will be through ecommerce. This marks an impressive 6.2 percentage point increase in just four years.
The growing adoption of ecommerce especially in the past two years can largely be attributed to the coronavirus pandemic, which forced consumers to stay home and purchase products online. Analysts say that the majority of this growth in the US ecommerce market share will come from the top online retailers, particularly those that provide efficient delivery and click-and-collect services.