Report: 23% of all retail purchases will be made online by 2027

The U.S. market mirrors this global trend. According to eMarketer, U.S. retail e-commerce sales are forecasted to reach $1.720 trillion by 2027, representing more than 20% of overall retail sales. This growth is further supported by Forrester projections, which anticipate U.S.

online retail spending to hit $1.6 trillion by the same year. Revenue in the global e-commerce market is also set to soar. Statista projects that revenue will reach $4,117 billion in 2024, with an annual growth rate (CAGR) of 9.49% from 2024 to 2029.

By 2029, the market volume is expected to hit $6,478 billion, with the number of users reaching 3.6 billion. User penetration is predicted to increase from 40.5% in 2024 to 49.1% by 2029, indicating a broadening base of online shoppers. Several factors contribute to this robust growth.

The convenience of faster buying processes, the ability to shop from anywhere at any time, and the increasing availability of multiple payment options have made online shopping more attractive…