Advancements in technology and the growth of available marketplaces have made it easier than ever to buy and sell online. The ecommerce market is expected to grow by almost $11 trillion between 2021 and 2025. As businesses came online during the COVID-19 pandemic, the global trend toward digitization surged ahead at lightning speed. Even as regions begin to reopen, ecommerce sales are still climbing. Global ecommerce sales are expected to reach $5 trillion in 2022, and $6 trillion by 2024.
Merchants continue to follow consumer demand online, flocking to ecommerce in record numbers. Online stores are popping up daily, with an estimated 12-24 million ecommerce sites across the globe. This means more brands competing for customers. As a result, digital advertising is more costly and less lucrative than ever before.