E-commerce is the selling of products or services across geopolitical borders from a company’s country of origin, normally defined as its founding or incorporating location. Products or services are sold into non-native markets via online sales and marketing.
The global e-commerce market is expected to total $5.55 trillion in 2022. That figure is estimated to grow over the next few years, showing that borderless e-commerce is becoming a profitable option for online retailers.
Two years ago, only 17.8% of sales were made from online purchases. That number is expected to reach 21% in 2022, a 17.9% increase in e-commerce market share over two years. Growth is expected to continue, reaching 24.5% by 2025, which translates to a 6.7 percentage point increase in just five years.
Global retail sales growth continues to rise and take up more retail market share. According to eMarketer, online retail sales will reach $6.17 trillion by 2023, with e-commerce websites taking up 22.3% of total retail sales.
source: https://www.shopify.com