Shopify - Commerce Trends Report 2023

The Shopify Commerce Trends Report 2023 examines the ever-changing landscape of commerce and the need for businesses to adapt in order to stay competitive. The report highlights the resilience of millions of businesses in the face of the unexpected in the past year, leading to over $27 trillion USD in retail sales worldwide. However, it also notes that 64% of global businesses are still recovering from the negative impact of the pandemic. Additionally, the report acknowledges that the economic obstacles caused by the pandemic have been compounded by the Russia-Ukraine war and sanctions that have delayed or halted trade altogether, leading to the highest inflation in 40 years. The report also notes that the pandemic has accelerated the innovation and adoption of digital commerce by half a decade, with online shopping jumping 77% YoY and online shopping, working, and socializing becoming commonplace. The report aims to provide a comprehensive overview of current commerce trends and insights into what to expect in the coming years.