Although it is still too early to predict the countries with the greatest e-commerce growth by the end of 2024, some predictions are beginning to emerge. According to eMarketer statistics and e-commerce forecasts, it is estimated that in By 2024, global e-commerce sales will exceed $6 trillion and in 2025 they will reach $7 trillion.
In recent years, the e-commerce industry has experienced significant changes, with the emergence of new brands that have gained great prominence, as well as the expansion of marketplaces or the growth of some social networks. These changes have largely shifted our attention from the West to the East. This paradigm shift is one of the aspects that eMarketer takes into account in its forecast of the countries that will lead growth in the e-commerce sector in 2024.
The countries of Latin America and Southeast Asia lead the ranking of countries with the highest growth in the e-commerce sector by 2024
The Content Director at Insider Intelligence, Zia Daniell Wigder, published a post on LinkedIn analyzing the countries that appear on the list in the eMarketer report. First, it is highlighted that most of the countries on the list come from Latin America and Southeast Asia. However, the presence of India The third place in the table attracts your attention because, as we know, it is a country that has grown a lot in recent years, but more than that, it is the “The only country on this list other than the US that will have over $100 billion in e-commerce sales in 2024«. However, keep in mind that this is not the case following recent moves by companies like Walmart, which invested $3.5 billion in Flipkart in September, or Amazon, which announced in the summer that it would invest $26 billion in India by 2030 is surprising.
He then mentions the presence of Latin American countries, which are five of the twelve countries on the list. Argentina is once again one of the main countries that appear on this list as one of the main countries that will see notable growth in the e-commerce sector. However, keep in mind that “Inflation will play a big role in your 2024 ranking, as in previous years«.
Another country that appears on the list is the United States. In 2023, they generated more than $1.2 trillion in sales in the e-commerce market. The fact that the US market continues to grow rapidly shows the continued strength of the market.
Which countries generate the most revenue from the e-commerce sector?
According to data presented by eMarketer, the countries that generate the most money in the e-commerce sector are:
- China: 2,750 billion euros (3,023 billion dollars).
- USA: 1,060 billion euros (1,163 trillion dollars).
- Great Britain: 178 billion euros (195 billion dollars).
- Japan: 176 billion euros (193 billion dollars).
- South Korea: 134 billion euros (147 billion dollars).
- India: 107 billion euros (118 billion dollars).
- Germany: 88 billion euros (97 billion dollars).
- Indonesia: 88 billion euros (97 billion dollars).
- Canada: 75 billion euros ($82 billion).
- France: 72 billion euros ($79 billion).