With 2.71 billion people, or 33% of the world’s population shopping online, the Global eCommerce market is estimated to be valued at $6.31 trillion in 2024. The market will further rise to $7.95 trillion by 2027.
We have compiled a list of 10 largest eCommerce markets in the world in this blog where you will also learn about the demographics of each market.
China – $3.19 trillion
China’s eCommerce market is valued at $3.19 trillion, making it the largest in the world. eCommerce sales in the country account for 47.3% of the total retail sales. The Chinese eCommerce market is estimated to reach $3.98 billion by 2027.
Market Highlights
- There are 915.1 million digital buyers in China, which makes up 64% of the country’s population.
- Chinese eCommerce shoppers spend an average of USD 2,058 every year.
- 64% of e-commerce transactions in China are completed on mobile devices, of these transactions, 65% are carried out on an application.
- Digital wallets account for 59% of all completed transactions in the country.
United States – $1.22 trillion
The United States eCommerce market is valued at $1.22 trillion and is estimated to reach $1.88 trillion by 2029—eCommerce sales in the country account for 15.90% of the total retail sales.
Market Highlights
- The US has 270.11 million online buyers, making up 80% of the country’s population.
- 45% of total e-commerce sales in the US is made via smartphones.
- Social commerce accounts for 4% of the total eCommerce business in the country.
- Cards account for 58% of online payments in the United States, while digital wallets make up 26%.
- There are 3.26 credit cards per capita, compared with just 0.99 debit cards.
- 33% of online shoppers in the U.S. have bought from abroad, but international sales represent only 7% of the total eCommerce market in the country.
United Kingdom – $195.7 billion
The eCommerce market in the United Kingdom is valued at $195.7 billion making it the third largest market globally. Despite 84% of people already shopping online, eCommerce still only accounts for 28% of total retail sales, indicating significant potential for growth as more people transition to online shopping.
Market Highlights
- There are 57 million online shoppers in the UK.
- E-commerce accounts for 27.9% of all retail sales in the region.
- An average UK consumer spends 4,115 Euros (US $4,700) annually.
- About 63% of all transactions in the UK occur on mobile devices, with 48% of these made through apps.
- UK eCommerce shoppers use cards for 52% of transactions, while digital wallets account for 28%.
- International purchases make up 25% of all e-commerce sales in the country.
Japan – $169.40 billion
Japan’s eCommerce market is valued at $169.40 billion and is expected to grow at a CAGR of 9.23%, reaching $263.40 billion by 2029. eCommerce now takes a 10% share of total retail in the country.
Market Highlights
- There are 94 million online shoppers in Japan, accounting for 76% of the country’s population.
- Japanese consumers spend an average of $2,023 shopping online every year.
- Mobile commerce takes 34% of total e-commerce sales.
- Mobile browsers marginally outpace apps for online shopping in Japan, with 52% of sales via browsers and 48% via apps.
- In Japan, cards are the preferred payment method for 68% of online transactions, followed by bank transfers at 13%, with digital wallets holding a 5% share.
South Korea – $147 billion
The eCommerce market in South Korea is valued at $147 billion making it the fifth largest market globally. eCommerce takes 18% share of the total retail sales in the country.
Market Highlights
- 70% of ecommerce transactions take place on a mobile device in South Korea.
- On average, South Korean shoppers have four to six shopping apps installed.
- South Korea’s online shopping is card-based, holding a 73% market share. Digital wallets are the second most popular at 12%, while bank transfers come in third with 11%.
- 52% of South Korean online shoppers make international purchases, mostly of low-cost items, cross-border e-commerce represents less than 5% of total e-commerce in the country.
Germany – $141.2 Billion
Germany’s eCommerce market is valued at $141.2 billion making it the sixth largest globally. e-commerce takes 11.2% of the overall German retail market.
Market Highlights
- 74% of the German population shops online, accounting for 62 million shoppers.
- The average German online shopper spends 1,484 Euros (US $1,695) annually.
- The most popular product categories are travel (21%), electronics and media (18%), and fashion (18%).
- 35% of e-commerce transactions take place on a mobile device in Germany. 49% take place using an app, whilst browsers are used for 51% of transactions.
- 14% of German online shoppers make purchases via social media.
- Buy now, pay later method is the most popular e-commerce payment option in Germany, accounting for 30%t of all payments. Digital wallets take 27% share while Cards take 20%.
India – $116 billion
India is the world’s seventh-largest e-commerce market with a valuation of $116 billion. E-commerce accounts for only 5% of total retail in India.
Market Highlights
- There are 250 million eCommerce shoppers in India.
- 6 out of 10 Indian citizens are yet to make their first online purchase.
- Mobile commerce takes an impressive 80% of all eCommerce transactions in India.
- India’s high mobile commerce usage makes digital wallets the primary online payment method, accounting for 46% in 2024. 29% of shoppers use cards for online shopping.
- 13% of all eCommerce orders in India are COD.
Indonesia – $62 billion
The Indonesian eCommerce market is valued at $62 billion and is the eighth largest in the world. eCommerce represents 5.4% of total Indonesian retail.
Market Highlights
- There are 65 million online shoppers in Indonesia, accounting for 23.63% of the country’s population.
- Mobile commerce takes a 64% share of all e-commerce transactions in the country. Apps are more popular than browsers, and are used for 78% of mobile transactions.
- Cards are the leading online payment method at 32%, followed by bank transfers at 29%. COD and Digital wallets take 17% share each.
France – $51 billion
The French eCommerce market is the 9th largest in the world with a valuation of $51 billion. 10% of all retail sales in the country come from eCommerce.
Market Highlights
- 7 out of 10 French people shop online.
- French consumers spend an average of 2,450 Euros a year shopping online.
- Mobile sales make up 23% of transactions. 53% of these transaction are made using apps.
- 76 percent of French online shoppers use Facebook to shop. 23% have used Instagram for the purpose while 11% have used Snapchat.
- 78% of all eCommerce transactions are done via cards while 14% are done using digital wallets.
Canada – $40.3 billion
The Canadian eCommerce market is the ninth largest in the world with a valuation of $40 billion. eCommerce sales account for 13.6% of all retail sales in the country.
Market Highlights
- There are 27 million online shoppers in Canada, accounting for 65% of the country’s population.
- An average Canadian spends $2,790 a year shopping online.
- Travel is the most popular ecommerce market segment, with a 20% market share. Electronics and media (18%), and fashion (17%) are the second and third most popular spending categories.
- 35% of eCommerce transactions in the country take place on a mobile device.
- 84% of Canadian online consumers will shop more regularly with merchants that offer free shipping.
- 64% of all eCommerce transactions in Canada are completed using cards. Credit cards outnumber debit cards, with 2.1 credit cards per capita compared to 0.68 debit cards.
- 62% of Canadian eCommerce shoppers also make international purchases.