The online shopping year has been segmented by various time-sensitive, deal-heavy campaigns for years — i.e. Amazon Prime Day and Cyber Monday. While the retail industry heavily promotes numerous products, Statista Market Insights reports the highest share of e-commerce revenue globally is generated in three segments: electronics, toys and fashion.
Almost two-thirds of sales value can be traced back to the electronics; toys, hobby and DIY; as well as fashion, according to Statista. The electronic segment with nearly a quarter of global share, is not surprising since the category includes often pricier consumer products such as smartphones, tablets and household appliances. Fashion, which is priced considerably lower than electronics, accounts for almost 20% of global e-commerce revenue.
Globally e-commerce revenue is projected to reach $3.64 trillion this year, according to Statista. Revenue is expected to show an annual growth rate of 11.16% through 2027, resulting in a projected market volume of $5.56 trillion by 2027. Most revenue generated is expected to derive from consumers in China.
Globally, the number of e-commerce consumers is expected to reach 5.29 billion by 2027. Additionally, e-commerce shopping penetration globally is anticipated to hit 57.2% this year and 66.6% by 2027.
Domestically, e-commerce revenue is expected to reach $925.3 billion this year and nearly $1.415.7 by 2027.
When looking at the future ofe-commerce, Statista analysts see online food shopping becoming one of the segments with the highest growth potential, potentially doubling its revenue globally from $330 billion this year to $620 billion in 2027.
As Retail Leader previously reported, most U.S. consumers (72%) have bought groceries online at least once in the last three months, the same percentage as last year. Additionally, about 40% of respondents who ordered groceries online in the past three months did so weekly.