E-Commerce in 2024: Facts & Figures

The e-commerce market is the most dynamic on the planet, growing and changing with every passing day. In this edition of the Brickweb blog, we look at some crucial statistics from this fast-paced sector. 

• The number of people purchasing products from bricks-and-mortar stores continues to decrease. Informed projections from EMARKETER suggest that just over 20% of retail purchases will be made online this year, rising to nearly 23% by 2027. 
• Experts at EMARKETER have also forecast e-commerce market growth of 8.8% in 2024, bringing its value up to a whopping £5 trillion from its £4.6 trillion last year. By 2027, it is predicted that the market value will reach a staggering £6.3 trillion. 
• Leading search engine marketing company SEMrush noted that Amazon is the most-visited of all e-commerce websites, attracting more than 2.8 billion views per year. It is therefore little surprise to learn that, according to Statista, the platform accounts for a massive 37.6% of all e-commerce sales. 
• Data from Statista reveals that over half (52%) of online shoppers have made online purchases from international retailers. The organisation Cross-Border Commerce Europe recently reported that the cross-border retail market in Europe hit a record value of over £203 billion by the end of 2023, representing a huge increase of 32% compared to the previous year.
• The trade association IPC carried out a survey that showed more than a third (34%) of online shoppers make a purchase at least once a week.
• According to a report from Statista, the social media e-commerce market value looks set to rise to a staggering £6.8 billion by 2030. The report also revealed that 51% of respondents to their survey named Facebook as their preferred platform for making online purchases.
• An overwhelming 91% of consumers use smartphones to make a purchase online, according to data from PewResearch. This research along with many other studies led Statista to predict that mobile commerce sales will hit £682.6 billion by 2027, which is nearly double the current figure. 

Brickweb, Lancashire's leading e-commerce development agency, is perfectly placed to help you achieve success in this exponentially-growing marketplace. Drawing on more than two decades of experience, utilising the latest technologies and staffed by a cherry-picked team of experts, we offer a comprehensive suite of services and solutions that will ensure YOUR e-commerce business remains at the cutting edge. 

Please browse our website for further details and do not hesitate to get in touch with a member of our dedicated team to start your journey.