COUNTRIES WITH THE HIGHEST E-TRADE VOLUME
In this article, we will explore together the countries with the highest e-commerce volume in the world. We will also examine the e-commerce data of these countries together.
What is e-commerce: Offering and selling products and services to consumers on an online platform.
Global sales are estimated to be $4,891 trillion, up 14.3% year-on-year. The reason why e-commerce has grown so much is attributed to the increase in mobile device usage. Mobile applications enable consumers and businesses to shop online easily. Now that you have advanced technology, simplified international shipping and logistics facilities, now is the perfect time to move your sales to e-export!
According to research, e-commerce sales in Asia-Pacific countries by 2024 are expected to be over 4 trillion dollars. It is estimated that 65.9% of this figure will be e-export sales.
China, considered the world’s largest e-commerce market, grew by 20.0% in 2020. 97% of online shopping in China takes place domestically.
E-commerce in China remained stable in 2020, with growth less than expected at 20%. This rate is 2.164 trillion dollars in total. China continues to account for 52% of global e-commerce.
Alibaba is still the world’s largest e-commerce site. Alibaba had reduced China’s share of e-commerce to less than 50% in 2020. Pinduoduo (PDD) and JD.com continue to grow rapidly. Live-streamed e-commerce grew by 160.0% in 2020.
China’s social media sales are $351.65 billion. This corresponds to 10 times the social media sales in the USA. E-commerce in China is managed by partners of the Alibaba group, Taobao, Alibaba.com and Tmall. China’s annual growth rate is 21%.
- China’s annual online sales are $2.78 trillion.
- The total rate of e-commerce in retail sales is 52%.
E-commerce sales will grow rapidly and will reach 23.6% of total retail sales in 2025, compared to 11.0% in 2019.
Social media sales will increase 35.8% this year and reach $36.62 billion. One in four virtual customers will use the buy now pay later (BNPL) service.
The US is now the second largest e-commerce market, after leading the e-commerce market at its peak for many years. E-commerce growth is observed in every category in the USA, whose e-commerce is managed by Amazon and eBay.
Annual e-commerce sales of the USA are around 843 billion dollars.
The total rate of e-commerce in retail sales is 19%.
In the UK, the epidemic has strengthened retail e-commerce. Although things have normalized after the pandemic, the retail landscape has changed strongly and e-commerce is in greater demand than before.
E-commerce sales grew 46.5% year-on-year in 2020.
Online food, beverage and household goods categories benefited from quarantine in the UK. The adaptation of older age groups to online grocery shopping brought the food and beverage category to the fore. People who want to improve their stay-at-home experience have also turned to the household goods category.
Although the share of e-commerce in the world may seem small, the United Kingdom is a large e-commerce country. The top three of the UK’s most used e-commerce sites are Amazon UK, eBay UK and Asos.
- UK’s annual e-commerce sales: $169 billion.
- The total rate of e-commerce in retail sales is 4.8%.
Ranking fourth, Japan is the world’s leading country in mobile e-commerce. Rakuten is an important e-commerce market in Japan. Over the years, it has acquired many international e-commerce sites such as Play.com.
- Japan’s annual e-commerce sales are $144 billion.
- The total rate of e-commerce in retail sales is 3%.
This country, which has the fastest wireless internet, has entered the top 5 among the countries with the highest e-commerce volume. It is also one of the important mobile e-commerce markets. The most used e-commerce sites in South Korea are Gmarket and Coupang.
- South Korea’s annual e-commerce sales are 120 billion dollars.
- The total rate of e-commerce in retail sales is 2.5%.
It has entered the top two in Europe’s largest e-commerce markets. Amazon is leading the German site. Two other major e-commerce sites are eBay and local retailer Otto.
- Germany’s annual e-commerce sales are 101.5 billion dollars.
- The total rate of e-commerce in retail sales is 2.1%.
Important e-commerce platforms are Cdiscount and Veepee and they are local. France ranks seventh in the world in this regard. Similar to other European e-commerce markets, Amazon began to dominate in France, outpacing local e-commerce markets.
- France’s annual e-commerce sales are $80 billion.
- The total rate of e-commerce in retail sales is 1.6%.
After two years in a row, most buyers did not want to shop outside, they turned to digital shopping. In 2020, India’s e-commerce sales grew by 30.0%. India is one of the fastest growing e-commerce markets. With the increasing number of retailers participating in e-commerce, online sales are expected to increase substantially.
- India’s annual e-commerce sales are $67.5 billion.
- The total rate of e-commerce in retail sales is 1.4%.
In 2020, retail e-commerce increased by 75.0% in Canada, more than any country except Argentina. Distance sales due to the pandemic accelerated online shopping behavior.
There is very little competition in Canada’s e-commerce market. Therefore, Amazon is number one in the e-commerce market in this country. Walmart comes in second place. Considering these opportunities, foreign brands also want to get their share.
- Canada’s annual online sales are $44 billion.
- The total rate of e-commerce in retail sales is 1.3%.
Three important Markets in Spanish e-commerce: Amazon, El Corte Ingles and PcComponentes. These markets account for 30% of all online revenue in Spain.
- Spain’s annual online sales are $37 billion.
- The total rate of e-commerce in retail sales is 0.72%.