Global ecommerce is booming, with monthly visits reaching 24.7 billion in 2024, an 11% increase from the previous year. Mobile devices are driving this growth, accounting for 60% of all ecommerce traffic, and up to 90% in regions like Asia.
Key Drivers of Ecommerce Growth
Several factors are contributing to this surge:
- Mobile devices: More people are shopping on their smartphones.
- Visual content: Formats like videos and images are changing the shopping experience.
- AI technology: Tools like Chat GPT are becoming increasingly popular, with a 1138% rise in usage.
Major shopping events like Cyber Monday and Prime Day broke records, with traffic surging 52% and 25% respectively. These events generated around €1.78 billion in additional online sales.
Sectors Leading the Charge
Some industries are thriving in the digital landscape:
- Pet care: 30% of sales are now online.
- Consumer health and personal care: Over 20% of sales are digital.
In contrast, categories like dairy, bakery, and beverages still lag behind due to logistical challenges.
Emerging Markets on the Rise
While developed markets previously dominated global ecommerce, their share has dropped from 60% to 52% since 2020. Countries like Turkey, India, and Mexico are gaining traction, with India’s ecommerce market growing significantly. In fact, India is now the fourth-largest ecommerce market globally.
Spain, despite a saturated European market, still has room to grow by focusing on digital innovation beyond major urban centers. Social media platforms like Instagram and TikTok are popular among Spanish users, making them ideal for ecommerce in sectors like beauty and health. According to Fernando Angulo, senior market research manager at Semrush, Spain is well-positioned to capitalize on the trend towards visual and mobile commerce, particularly in industries like wellness and cosmetics.
The Future of Commerce
The growth of ecommerce doesn’t mean traditional retail is disappearing. Instead, omnichannel models are becoming the norm, with online shopping paired with in-store pickup or returns. Brands like Mercadona and El Corte Inglés are leading the way, using their physical presence to enhance the online experience.