In a digitizing world, e-commerce and logistics stand out as two key forces propelling the wheels of change. As people increasingly turn to online shopping, logistics services become a fundamental element in ensuring the efficient and swift delivery of products to customers.
In this article, we will shed light on the most important statistics related to e-commerce, and essential knowledge to maintain your leadership in the ever-evolving world of e-commerce.
Prominent E-Commerce Growth Statistics in 2024
E-commerce has experienced tremendous growth in recent years, and experts anticipate a substantial increase at an accelerated pace in the coming years.
Here’s an overview of key statistics that underscore this trend, reflecting the current and future landscape of e-commerce.
Global E-Commerce Growth Statistics:
- Experts predict the global e-commerce market to reach $6.07 trillion by 2024.
- Mobile sales are expected to constitute approximately 42.9% of total sales.
- Social commerce sales are projected to triple by 2025.
- Southeast Asia leads emerging markets, driven by increased digital spending in India.
- Over half of global shoppers prefer shopping in their native language.
- Enhancing supply chain resilience is anticipated to ensure business continuity amid unforeseen circumstances, learning from the impact of the COVID-19 pandemic.
E-Commerce Growth Statistics in the MENA Region
- The e-commerce market is expected to leap from $37 billion in 2022 to $57 billion by 2026.
- The UAE leads in e-commerce in the MENA region, followed by Saudi Arabia and Egypt.
- Electronics are the most sought-after products in Saudi Arabia and Egypt.
- The UAE experiences significant growth in the food sector, reflecting increased consumer demand for food and beverages.
A Focus on E-commerce in Saudi Arabia Statistics
- Saudi Arabia’s e-commerce market in 2023 was around SAR 120 billion, expected to reach SAR 200 billion by 2025.
- Saudi Arabia ranks 27th globally in e-commerce users with 28.4 million users, expected to grow to 34.5 million by 2025.
- Experts predict a $15 billion growth in the Saudi e-commerce market by 2025.
- Saudi Arabia accounts for 45% of e-commerce in the Middle East and the Arab world.
- The number of e-stores in Saudi Arabia exceeds 100,000, with Riyadh having a record 15,074% growth in registered e-commerce businesses.
- By 2025, the electronics category is expected to grow by approximately $2.8 billion, with fashion ranking second at $2.7 billion.
- The total expected revenue for e-commerce in Saudi Arabia is around SAR 260 billion, with a compound annual growth rate of 15% between 2020 and 2025.
E-Commerce Platforms Statistics:
- Shopify holds a dominant position in the global e-commerce platform landscape, boasting a 25% market share.
- WooCommerce and Wix are strong contenders in the market, reflecting their popularity and ability to meet user needs.
- Formerly Magento, now Adobe Commerce, remains a significant player with a large market share and a broad user base.
Product Sales Statistics by Categories:
- Recent statistics indicate significant growth in media, gaming, office supplies, and electronics in the coming years.
- The United States experiences growth in the food, beauty, and office equipment sectors.
Consumer Preferences Statistics:
Consumer preferences drive individual purchasing behavior, revealing choices when shopping for products or services. Consumer preferences statistics include:
- Approximately 79% of visits to the Shopify e-commerce platform come from mobile devices, such as smartphones and tablets.
- Around 3.3% of visitors to an online store will complete a purchase.
- Reports highlight that key challenges in e-commerce include the rising trend of product returns and the prevalence of fraudulent activities.
Overview of the ERP Market (Enterprise Resource Planning)
In a dynamic and rapidly changing world with increasing challenges, companies seek effective solutions to ensure their continuity and prosperity.
Enterprise Resource Planning (ERP) systems stand out as one of these crucial solutions, providing companies with the ability to manage their operations efficiently and effectively, contributing to sustainable success.
ERP systems offer comprehensive solutions to manage various aspects of business, including production, marketing, sales, and supply chain. Here is an overview of the ERP market:
- Market Value: The market value of ERP is expected to reach $183 billion USD in 2024.
- Key Trends: Artificial Intelligence and cloud-based ERP systems represent the latest key trends driving growth.
- Leading Companies: Microsoft, SAP SE, Intuit, and Constellation Software are prominent players in this field.
ERP Statistics in the Middle East, North Africa, and Turkey:
Digital transformation fueled by internet and smartphone usage propels the growth of the ERP market in the Middle East, North Africa, and Turkey.
The ERP market witnesses increasing demand for innovative solutions tailored to specific sector needs, including supply chain management, production efficiency improvement, inventory management, and enhanced data analytics.
However, the implementation of ERP systems faces various challenges, including integration testing, data migration, and security concerns, according to recent reports.
Future Trends in ERP Systems:
The ERP market is experiencing rapid changes driven by technological advancements and evolving business needs. Key future trends include:
- Growing Importance of Automation and Analytics: Automation and analytics are becoming standard features in modern ERP systems.
- Integration of Generative AI: Increasing integration of Generative AI technologies in ERP systems to enhance product development, automate report generation, improve customer service, etc.
- Rise of Cloud Computing and Mobile Solutions: The increasing significance of cloud computing and mobile solutions reflects a global shift towards remote work and accessing data from anywhere.
Considerations for Increasing Market Share:
Companies today face numerous challenges and opportunities that require careful strategic analysis and the implementation of necessary tactics to increase market share, ensuring sustainability and growth. Here are some points to consider:
- Embrace Artificial Intelligence and Cloud-Based Solutions for Modern Business Success.
- Leverage Integrated Channels and Personalization in E-Commerce.
- Prioritize Last-Mile Delivery for Growth Enhancement.
- Focus on Mobile E-Commerce.
- Enhance Conversion Rates through Chatbots, Live Chat, and Multiple Payment Options.
Conclusion:
The world of e-commerce and logistics is growing rapidly, driven by technological advancements and innovations. Artificial intelligence, cloud solutions, social commerce, and Enterprise Resource Planning (ERP) are fundamental pillars shaping the future of this industry.
Success in this evolving world requires companies to adapt to modern trends and invest in appropriate technology to increase their market share, achieve sustainability and growth, enhance competitive value, and ultimately maximize return on investment. The future is bright, but it demands readiness and strategic planning to achieve all desired goals.
