A report by Statista reveals that global retail ecommerce sales market size was valued at $5.2 trillion in 2021. The sales are projected to hit $8.1 trillion by 2026, marking a 56% growth rate.
The soaring growth is contributed by the growing prevalence of mobile shopping among consumers, accounting for 43% of the total ecommerce sales.
Besides, the global smartphone penetration was at 68% in 2022 (about 6.8 million smartphone users). Considering 79% of smartphone users purchase online via their devices, it makes sense what m-commerce contributes to ecommerce sales.
Furthermore, since the advent of Covid-19, many consumers realized the benefits of shopping online, from convenience to reduced costs.
Hence, the ecommerce business is one of the most promising ventures you can think of in 2023 and beyond.
However, one question remains unanswered. What is it that businesses are selling online to maximise their profits?
This article discusses profitable ecommerce business ideas that you can invest in to boost your sales revenue.
Let’s dive in!