Ecommerce sales will reach over $6 trillion dollars in 2023, according to a study conducted by Insider Intelligence – that’s $3.3 trillion dollars more in online sales than 2019!
China is the largest ecommerce market, which accounts for over 52% of total worldwide sales. The US is the second-largest market but only makes up 19%. UK follows at 4.8%, Japan at 3%, South Korea at 2.5%, Germany at 2.1%, France at 1.6%, India at 1.4% and Canada at 1.3%. The rest of the countries did not make up even 1%.
What does this insight mean?
It means that China can be a potentially huge market and opportunity if your company can sell products or services to the Chinese market. But how do you reach global markets?
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