{"id":24588,"date":"2023-06-09T16:30:14","date_gmt":"2023-06-09T15:30:14","guid":{"rendered":"http:\/\/www.smartinsights.com\/?p=24588"},"modified":"2023-06-12T12:16:21","modified_gmt":"2023-06-12T11:16:21","slug":"online-retail-sales-growth","status":"publish","type":"post","link":"https:\/\/www.smartinsights.com\/digital-marketing-strategy\/online-retail-sales-growth\/","title":{"rendered":"Forecast e-commerce growth in percentage of online retail \/ e-commerce sales 2017 to 2024"},"content":{"rendered":"

E-commerce 2023: The latest data and forecasts for all things online retail growth
\n<\/strong><\/h2>\n

It's interesting to look back at e-commerce growth over the last few years and think forward to the future of this industry. As demonstrated by these charts from Statistica, the annual revenues of the US e-commerce industry<\/a> shot up in 2020 and 2021.<\/p>\n

What's more, despite recent growth slowing slightly, Statistica Market Insights estimates strong continued growth in this area in 2023 and beyond.<\/p>\n

\"Revenue<\/a><\/p>\n

The reasons for this are two-fold - the rise of revenue from total retail sales, both in the US and worldwide, and also stark growth in the % of the total retail sales being e-commerce<\/a>.<\/p>\n

This constitutes a much larger share than previously to the pandemic, showing that some of the rapid changes to buyer behavior have remained, and we expect to see that continue.<\/p>\n

\"E-commerce<\/a><\/p>\n

Equally, we have watched the overall percentage of e-commerce retail sales in the UK rising to over a third of all retail in the UK in November 2020 and January 2021<\/a>. It has since decreased slightly, as of December 2022, amounting to just over a quarter.<\/p>\n

Notably, in both November 2021 and 2022 we did see high e-commerce sales, which suggests that user shopping behavior is very much tied into seasonality, such as Black Friday.<\/p>\n

\"UK<\/a><\/p>\n

Looking to grow your e-commerce business? We've got practical marketing strategy and planning solutions for online retailers just like you. Our step-by-step marketing tools are proven to generate growth, so you can take advantage of the huge growth potential in e-commerce today. Find out more.
\n

Create your 90-day plan with the RACE Growth System<\/h3>

Download your free RACE Growth System guide today and unlock our three-step plan of Opportunity, Strategy and Action to grow your business.<\/p>Download guide<\/a><\/div><\/div><\/span><\/p>\n

Worldwide E-commerce country breakdown 2023<\/h3>\n

The chart below from Oberlo's 2023 e-commerce breakdown by <\/a>country<\/a> predicts a global e-commerce sales growth of 8.9%. Using analysis by eMarketer, the report predicts the highest growth in the Philipines, India and Indonesia (all growing over 20% YOY).<\/p>\n

However, due to scale, US and China will account for more than 70% of total e-commerce sales.<\/p>\n

\"E-commerce<\/a><\/p>\n

E-commerce sector growth: Which sectors have the largest share of total sales?<\/h3>\n

As we can see in the chart which depicts the state of play for UK online retail sectors in early 2023, non-store retailers constituted a large section of e-commerce sales with 50% of the total sales accounted.<\/p>\n

On the other hand, department stores made up only 7% of sales. And while textile , clothing and footwear categories saw YOY growth of 4%, household goods were down 7% in Feb 2023.<\/p>\n

\"Office<\/a><\/h3>\n

What can we learn from this as marketers? There are certainly great opportunities in e-commerce right now. If you are able to claim market share for your products in 2023, in a growing market, and you can maintain that share, you are setting yourself up for sustainable growth in years to come!<\/p>\n

To find out more about how you can enable this in your business, download our RACE Growth System today.<\/p>\n

Create your 90-day plan with the RACE Growth System<\/h3>

Download your free RACE Growth System guide today and unlock our three-step plan of Opportunity, Strategy and Action to grow your business.<\/p>Download guide<\/a><\/div><\/div><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

E-commerce 2023: The latest data and forecasts for all things online retail growth It’s interesting to look back at e-commerce growth over the last few years and think forward to the future of this industry. As demonstrated by these charts …..<\/p>\n","protected":false},"author":5,"featured_media":157100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"categories":[29,392],"tags":[1566,1244,1488,1111],"acf":[],"yoast_head":"\nE-commerce growth statistics - UK, US and Worldwide forecasts<\/title>\n<meta name=\"description\" content=\"Forecast e-commerce growth in percentage of online retail \/ e-commerce sales 2017 to 2023. 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