Global E-Commerce Sector Anticipated to Reach $11 Trillion by 2028

Synopsis

A recent report indicates that the global e-commerce market is set for substantial growth, expected to reach $11 trillion by 2028, driven by technological advancements, delivery improvements, and increased internet access. Companies are focusing on ESG compliance and innovation to meet evolving consumer expectations.

Key Takeaways

The global e-commerce market is projected to reach $11 trillion by 2028.
Technological advancements are significantly driving growth.
Compliance with ESG factors is increasingly important.
Subscription services are becoming a major trend.
Regulatory scrutiny on sustainability claims is increasing.

New Delhi, Feb 14 (NationPress) The global e-commerce sector is poised for remarkable growth, with projections indicating it will achieve $11 trillion by 2028, according to a report released on Friday.

This growth surge is driven by rapid technological advancements, enhanced delivery services, and an increase in internet penetration across the globe.

A report from GlobalData, a prominent data and analytics firm, forecasts that e-commerce transactions will expand at a compound annual growth rate (CAGR) of 11.1 percent from 2023 to 2028.

The United States remains the leader in this industry, while firms globally are prioritizing innovation, data-driven strategies, and environmental, social, and governance (ESG) compliance to maintain competitiveness in this dynamic market.

“Consumers are increasingly aware of the social and governance aspects of ESG,” stated Aisha U-K Umaru, Strategic Intelligence Analyst at GlobalData.

Umaru emphasized that this focus is critical for e-commerce businesses, not only to adhere to relevant regulations but also to satisfy consumer expectations.

Companies are now required to ensure adherence to environmental regulations to mitigate legal risks, as detailed in the report.

Terms like “carbon neutral” and “environmentally friendly” are under close scrutiny, making it essential for e-commerce firms to align with global sustainability standards.

The report also highlights the rise of subscription-based services as a significant trend within the e-commerce landscape.

As the sector grows, there is an uptick in regulatory oversight regarding sustainability claims.

“Initiatives such as the Fifteen Percent Pledge, which encourages US retailers to dedicate at least 15 percent of their shelf space to Black-owned businesses, underline the increasing focus on social equity in the e-commerce domain,” noted Umaru.

Furthermore, concerns related to supply chain transparency and diversity remain pivotal as brands attempt to align with the evolving ESG priorities of Gen Z and Millennial consumers.