E-commerce Market Prediction For 2022: Key Facts & Figures
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E-commerce Market Prediction For 2022: Key Facts & Figures August 12, 2022
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Did you know around 5.07 billion people in the world use mobile phones and 59% of the people around have internet access! Mind-blowing, isn’t it? So, what does this mean for the e-commerce business in the year 2022 and beyond?

Of course, the pandemic has trapped us all at our homes and changed the way we live, work and shop. With physical distancing and lockdowns in place, more and more people started online shopping. 

Knowing where the industry is going will help us all stay focused and shape better sales strategies. Here is a look at how the industry has performed in the year 2021 and the forecast for 2022 and beyond. 

E-Commerce And M-Commerce Industry Stats So Far – A Quick Recap

Before discussing the predictions for 2022 and beyond, let’s see how the industry has fared so far. Were the number of mobile and internet users and their enthusiasm good enough to propel an unparalleled e-commerce growth? Let’s find out where the industry stands. 

M-Commerce And E-commerce Industry Statistics – Summary

  • The global m-commerce market was valued at $628 billion in 2020. 
  • The market growth rate was 32.0% in 2020 and industry was predicted to grow at the rate of only 18.3% in 2021. 
  • The e-commerce industry was predicted to witness around 14.3% downshift caused by the rebound of brick-and-mortar this year. 
  • According to Oberlo, around 48% of online shoppers preferred large e-commerce marketplaces.
  • Around 84% of consumers don't prefer shopping from sites that are not secure
  • China was set to stand out and claim 792.5 million digital buyers (33.3% of the global buyers) in 2021. 
  • China was to attain $2.779 trillion in e-commerce sales which is 56.8% of the global total sales in this year. 
  • More and more online shoppers prefer stores that are eco-friendly.
  • According to a report for 2020 by IBM , 8 out of 10 said sustainability was an important factor when it came to making purchasing decisions.
  • It was estimated that 73% of millennials were involved in the B2B buying process 
  • The global e-commerce market size is expected to reach $5.55 trillion in 2022.
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Source: https://appsthatdeliver.com/insights/m-commerce-statistics

The Fastest-Growing Countries By Online Sale In 2021

The chart below shows total online sales per country in 2021:

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Source: https://www.oberlo.in/statistics/e-commerce-sales-by-country

Top 10 Countries Ranked By Retail e-commerce Sales in 2021

The chart below shows the highest ranking countries by retail ecommerce sales and the percent increased they experienced in 2021:

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Source: https://www.emarketer.com/content/top-global-ecommerce-markets

Global E-Commerce Industry Forecast For 2022- 2040 – Highlights

Now that we know the industry’s growth through the years, here are some interesting global e-com forecasts for the upcoming years:

  • According to Grand View Research, the global B2B e-com market is expected to post a CAGR (Compound Annual Growth) rate of 18.7% between 2021 to 2028. 
  • Over the next 5 years, around 75% of the B2B procurement is estimated to take place on online marketplaces. 
  • Statista research indicates that in 2023, global online sales can claim 22% of all retail sales.
  • Statista also predicts that worldwide retail e-com industry growth will hit $6.54 trillion in 2023. This becomes interesting as the industry has reached only $3.53 trillion in 2019.
  • Nasdaq suggests that traditional retail may get overpowered by online shopping as 95% of purchases are more likely to be made on online platforms.
  • By 2022, 1/4 of all e-commerce orders are forecasted to be cross-border commerce. Already, 70% of the customers buy from foreign sites. 
  • Europe will claim 28% of cross-border e-commerce sales in 2022.
  • In 2022, B2B and B2C spend on physical goods as well as digital services is set to hit $6 trillion.

Global Retail E-commerce Sales Growth From 2016 to 2023

The chart below shows how much retail e-commerce sales grew between 2016 and what it is expected to reach in 2023. As you can see, the e-commerce industry is healthy and consistently increasing each year (The figures are in trillion dollars).

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Source: https://financesonline.com/e-commerce-trends/

Predictions For B2B And B2C E-commerce

Both B2C and B2B e-commerce are growing at a faster pace. Read on to discover the pace at which they are growing. 

B2C E-commerce Statistics

Retail B2C or consumer goods shopping had 18% of total global sales in 2020 and is set to achieve around 22% growth by 2024. The growth details are listed below.

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Source: https://www.trade.gov/e-commerce-sales-size-forecast

B2B E-commerce Statistics

The ongoing pandemic has increased the growth potential of B2B e-commerce. Here is the forecast:

  • Based on a study by Facts and Factors, in 2020, the global B2B e-commerce market stood at around $7.35 Trillion 
  • The market is expected to grow more than 18% generating roughly $18.57 trillion by 2026
  • The major global B2B players are: Amazon, Alibaba, Rakuten, Mercateo, Global Sources, Walmart, IndiaMART

Global E-Commerce Industry Forecast For 2022 - Country-Wise Growth

China has been leading the e-commerce growth so far. Let’s see if this trend will continue and which countries will gain more market share in 2022.

Retail E-commerce Sales Share Prediction For 2022

Below-given are the e-commerce sales predictions for 10 countries including China, the UK and the USA. You can also find sales percentages of 2021 in the table below.

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Source: https://www.emarketer.com/content/global-historic-first-e-commerce-china-will-account-more-than-50-of-retail-sales

Chinese E-com Market Outlook Statistics

Find below some useful data and predictions about Chinese online shopping industry: 

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  • Chinese e-com sales account for more than 50% of worldwide online retail sales. 
  • The Chinese e-com market is to hit $1.8 trillion in 2022.
  • Retail e-com in China is expected to be 3.08 trillion in 2023.
  • According to GlobalData, the Chinese e-commerce market will register a CAGR rate of 19.6 trillion (US$3.0 trillion) in 2024.
  • Social commerce in China is expected to reach $4297.73 billion in 2023. 
  • According to JP Morgan, m-commerce in the country to grow at a CAGR of 12% in 2023

Most successful E-commerce Companies In China

  • Alibaba: USD 109.480 billion 
  • Tencent: USD 73.56 billion
  • Baidu: USD 16.4 billion
  • Vipshop: USD 15.61 billion

South Korea E-com Market Outlook Statistics

The South Korean e-commerce growth outlook is looking promising. Find out more:

  • According to GlobalData, payments for online shopping in South Korea grew by 22.2% in 2020.
  • The e-com shopping payment is estimated to register a 25.4% growth and hit US $120.3 billion in 2021.
  • The market in the country is to surpass US $242 billion in 2025.

The South Korea E-Commerce Revenue Prediction – 2021 To 2025

The numbers mentioned are in million USD

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Source: https://www.statista.com/outlook/dmo/e-commerce/south-korea#revenue

Most successful E-commerce Companies In South Korea

  • SSG: USD 1.412 billion
  • Yes24: USD 0.433 billion
  • GS Shop: USD 0.407 billion
  • Apple: USD 0.376 billion

Source: https://www.ecommerce-nation.com/top-ecommerce-markets/

The UK E-commerce Market Outlook Statistics

The UK market is growing strong and is predicted to record $119.1 billion growth in 2025.

  • In 2020, the United Kingdom was positioned as the 4th largest e-com market and recorded sales of US $105 billion.
  • According to e-commerceDB, fashion is the largest segment and claims 31% of the total revenue.
  • It is predicted that by 2025, online shopping will account for 38.6% of retail sales in the UK.

The UK Retail E-Commerce Revenue Prediction – 2022 To 2025

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Most successful E-commerce Companies In The UK

  • Tesco: USD 7.59 billion
  • Argos: USD 5.41 billion
  • Sainsburys: USD 4.55 billion
  • Currys: USD 4.14 billion

The USA E-commerce Market Outlook Statistics

The USA market is all set to record $563,388 billion by 2025. FInd some useful data:

  • Based on an eMarketer survey, the USA e-com market is set to exceed $1 trillion in 2022.
  • The sales in the country increased by 32.4% between 2019 and 2020.
  • However, the growth rate witnessed a drop of around 16.1% between 2020 and 2021.
  • Retail m-commerce sales share in the USA is set to increase by 6% in 2022 and can claim up to 10% of total retail sales in 2025.

The USA Retail E-Commerce Revenue Prediction – 2022 To 2025

The numbers given are in million U.S. dollars:

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Source: https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/

Most successful E-commerce Companies In The USA

  • Walmart: USD 64.62 billion
  • EBay: USD 38.67 billion
  • Apple: USD 33.62 billion
  • Best Buy: USD 20.34 billion

Top 5 Emerging E-commerce Markets That Are Set To Outpace Others

The emerging e-commerce markets such as Argentina, Brazil, India, Indonesia and Mexico are going to post significant growth in the years to come. Let’s take a closer look.

1. Argentina

One of the fastest growing e-commerce markets in Latin America, Argentina is all set to break records:

  • Considered the 33rd largest e-commerce market in the world, Argentina had posted a US$6 billion revenue in 2020.
  • Recording a whopping 44% increase in growth, the country contributed 29% of the global market growth in 2020.
  • The major player in the country is walmart.com.ar with the revenue of US$144 million in 2020, followed by adidas.com.ar ( US$121 million ) and falabella.com.ar (US$119 million).
  • The Argentinian market is estimated to be $17.1 billion in 2021
  • The country is expected to record an increase of 32% e-commerce market growth by 2024

2. Brazil

Brazil is turning no stones unturned when it comes to posting m-commerce and e-commerce growth:

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  • The country’s online shopping revenue was around 126.3 billion Brazilian reals in 2020.
  • Brazil’s e-commerce market was worth  $147.6 billion in 2021.
  • The market is set to witness a 39% growth in 2022 and could be worth R$146.91bn.
  • By 2023, retail e-commerce sales in Brazil are estimated to grow over 31 billion dollars

3. India

India may take over the USA and become the second largest e-commerce market in the near future:

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4. Indonesia

Indonesias online shopping industry is growing exponentially. Know who are the big players:

  • The Indonesian e-commerce market generated 29 billion U.S. dollars in 2020.
  • The major contributors of the market growth in 2020 were:
  • Ul jd.id - US$1.4 billion revenue
  • orami.co.id - revenue US$178 million 
  •  zalora.co.id - revenueUS$125 million 

Statista predicts that the revenue will reach around 56 billion U.S. dollars in 2025.

The online shopping arena is constantly changing. From omnichannel shopping and support to augmented reality, the industry is going to witness many changes. Here are 7 things brands will value in 2022 and beyond:

1. Connected Online Experience

According to some recent research, around 50% of consumers wanted to try a mix of in-store and online shopping experiences. To make customers happy, brands will have to find new ways and offer them a connected or omnichannel shopping experience. Customers are also looking for standardized and omnichannel support in order to make their shopping experience hassle-free.  

2. Social Commerce

Social commerce will be a major stream of income and brands will look into new ways to keep customers engaged and make sales via social channels such as TikTok, Instagram etc. 

3. Influencer Marketing

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Content creators and social media influencers will rule the 2022 e-com marketing space. The industry has witnessed a global explosion, with over $1.3 billion spending in 2021 alone. It is interesting to note that around 83% of social media users trust influencer content. Finding the right influencer can make a difference to your sales.

4. Voice Commerce

It is estimated that a third of households in Europe and the US use voice enabled devices such as Alexa to make online purchases. Voice based shopping is expected to hit $40 billion in the year 2022. Your business should be able to offer personalized recommendations for users who prefer voice commerce to drive more sales. 

5. Better Payment Options

Gone are the days when customers were expected to pay using just credit/debit cards. Online shoppers like faster and secure payment options such as Apple Pay, Stripe, Google Pay, Paypal etc,. integrated to your site.  

6. The USe Of Augmented Reality (AR)

A seamless shopping experience is what customers are looking for. More than 71% of consumers say that they will shop more from brands that use AR. As more than 120,000 stores around the globe will be using AR by 2022, you can't miss out on the trend.

7. The Use Of Artificial intelligence (AI)

E-commerce companies are expected to spend around $7.3 billion on Artificial Intelligence by the year 2022. The increase is significant compared to the $2 billion spent in 2018 on the technology.

Key Takeaways For e-commerce 2022 Market Predictions

The global e-commerce market is set to grow in the years to come. You need to adapt and integrate emerging technologies in order to sustain growth. Here are the key takeaway from the market prediction for the year:

  • M-commerce will dominate the e-commerce sales
  • China will claim a major share of the online sales this year
  • Users will be looking for connected shopping experiences which will force businesses to offer omnichannel shopping as well as customer support
  • Social marketing can offer higher ROI
  • Be ready to harness the power of AI and AR to offer your consumers a better shopping experience.
  • Make sure to optimize your site for voice search 

In fact, all the trends indicate that brands should work towards enhancing the shopping experience of customers. So, keep an eye out for emerging trends. This year, let us focus more on creating strategies that win.  

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