Ecommerce Market Size by Country in 2023
In 2024, global ecommerce sales are expected to reach $6.3 trillion. This marks an increase of 8.8% from the previous year, as the global ecommerce market continues to grow year on year.
But where is this growth coming from, and who are the largest contributors to the growing global ecommerce size? Here’s a breakdown of the largest ecommerce markets in 2023.
Top ecommerce markets (2023): Table
|
Country |
Total ecommerce sales (2023) |
|
China |
$1,255.14 billion |
|
United States |
$1,065.68 billion |
|
Japan |
$151.03 billion |
|
United Kingdom |
$118.26 billion |
|
Germany |
$89.71 billion |
|
South Korea |
$78.04 billion |
|
France |
$60.59 billion |
|
Canada |
$58.69 billion |
|
India |
$50.94 billion |
|
Indonesia |
$45.13 billion |
Largest ecommerce markets in 2023
1. China ($1.26 trillion)
A recent ranking of the ecommerce market size by country shows that China was the world’s largest ecommerce market in 2023. The world’s second-most populous country generated more than $1.26 trillion in ecommerce sales last year.
China’s ecommerce revenue is quite remarkable, especially considering that it only surpassed the United States as the world’s largest ecommerce market in 2021. The country’s ecommerce sector is driven by giants like Alibaba and JD.com. Mobile commerce is also particularly dominant in China, with many consumers using mobile payment systems like Alipay and WeChat Pay for their transactions. Additionally, China’s rapidly increasing internet speed and vast number of internet users contribute to its thriving ecommerce industry.
2. United States ($1.07 trillion)
Second on the list ranking the largest ecommerce markets is the US, which is home to nearly half of the top ecommerce companies in the world playing a pivotal role in the ecommerce landscape.
In 2023, total revenue from online transactions in the US hit $1.07 trillion, making China and the US the only two countries to exceed the $1 trillion mark. Ecommerce activities in the US account for a significant percentage of retail sales in the US, indicating a strong consumer preference for online shopping.
3. Japan ($151.03 billion)
Next on the ranking of ecommerce market size by country is Japan. Total ecommerce revenue there topped $151.03 billion in 2023.
Japan’s ecommerce market is characterized by a high level of trust in online transactions, with major players like Rakuten and Amazon Japan dominating the market. Additionally, Japan’s high internet speed and tech-savvy population contribute to the robust growth of its ecommerce sector.
4. United Kingdom ($118.26 billion)
The United Kingdom is the leading ecommerce market in Europe, with online sales totaling $118.26 billion in 2023. The UK's ecommerce industry benefits from high internet penetration and a strong culture of online shopping. Top retailers such as Tesco, Asda, and Argos have successfully integrated online and offline sales channels, further fueling the online market’s growth.
5. Germany ($89.71 billion)
Germany’s ecommerce market generated $89.71 billion in online sales in 2023. Boasting 58 million online shoppers, Germany’s ecommerce sector is dominated by companies like Amazon Germany and the Otto Group.
6. South Korea ($78.04 billion)
Sixth on the list of the biggest ecommerce markets is South Korea, which racked up $78.04 billion in online sales last year.
Like Japan, the country is renowned for its advanced technology and high internet speeds, which facilitate seamless online shopping experiences. Major players such as Coupang and Gmarket spur the ecommerce market, offering a wide range of products and services to consumers.
7. France ($60.59 billion)
France’s ecommerce sector saw $60.59 billion in sales in 2023. The market is steered by a strong preference for online shopping and efficient delivery services. Leading retailers like Amazon France, Cdiscount, and Fnac play significant roles in the ecommerce landscape.
8. Canada ($58.69 billion)
Canada ranks next on this list sorting ecommerce market size by country. In 2023, Canada generated $58 69 billion in online sales, thanks to key players such as Amazon Canada and Walmart Canada and the rising trend of mobile shopping.
9. India ($50.94 billion)
India’s ecommerce market is rapidly expanding, evidenced by its online sales in 2023, which reached $50.94 billion. The country’s massive population and increasing internet penetration rates are vital drivers of this growth.
Analysts say the rise of ecommerce in India can be attributed to the growing accessibility of affordable smartphones and mobile internet.
10. Indonesia ($45.13 billion)
Indonesia rounds out the ranking of the top ecommerce markets with $45.13 billion in ecommerce sales in 2023, propelled by a young and tech-savvy population.
Largest ecommerce markets: summary
It’s worth noting that half of these 10 biggest ecommerce markets are in Asia, which should come as no surprise, considering it’s the most populous continent. This is also a reflection of the region’s ecommerce potential, making it an important market for ecommerce store owners to focus their efforts on.