E-commerce penetration in the United States stands at 87%, well ahead of most European countries, a new study by Stocklytics.com has found.
Last year, the global e-commerce industry totalled $3.15 trillion (€2.94 trillion), with more than half of this value coming from China and the United States, however, the US is far ahead in terms of penetration rate – more than twice that of China.
New Technologies
‘Although in-person shopping is back in full swing in 2024, e-commerce continues to thrive due to technologies that have taken the online shopping experience to a whole new level,’ Stocklytics.com noted.
‘Voice search, artificial intelligence, AR, and VR-enhanced shopping have practically wiped off the differences between online shopping and going into the brick-and-mortar store, turning e-commerce into the number one choice for hundreds of millions of people worldwide. Still, Americans seem to be the biggest fans of this type of shopping, with their country having the highest e-commerce penetration rate globally,’ it continued.
Best Of The Rest
The UK is the only country to achieve a penetration rate near that of the US, with 84% of consumers expected to shop online in 2024. Following on from that, the Netherlands ranks third, with 73% e-commerce penetration, followed by Canada and Germany, with 58% and 54%, respectively.
China, along with Brazil and Spain, boasts an e-commerce rate of around 40%, while India is on 22%.
According to a recent Statista survey, approximately 250 million Americans shopped online last year, while another 20 million individuals turned to shopping apps and online stores, bringing the total number of users in the US market to over 270 million this year.
Statista anticipates this number to exceed 330 million in the next four years, with the e-commerce penetration rate in the country surpassing 96%.
By comparison, China – the world’s largest e-commerce industry – is set to boast 542 million online shoppers in 2024. This represents 47% of its population. By 2029, these figures are projected to rise to 779 million, accounting for 56%.
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