Goldman Sachs: 2026 Global E-Commerce Handbook — Sizing the Industry in an Increasingly Agent-Mediated World
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Goldman Sachs publishes its 2026 Global E-commerce Handbook, sizing the industry in a world increasingly mediated by agents. The bank maintains its preference for scale and expects further market-share consolidation, forecasting global e-commerce sales of USD4.9tn in 2026 and a 6% compound annual growth rate for the market. China and the United States are expected to drive more than 50% of global growth. The handbook maps addressable retail sales as a share of the total for 2026, outlining where online penetration can still expand. A dedicated section traces the evolution from Commerce 1.0 to Commerce 3.0, framing how agent-mediated models could reshape the shopping journey and the distribution of traffic and conversion. Retail media receives its own exhibit. Together, the materials provide a standardized framework for comparing companies on scale, growth and positioning as the industry shifts toward agent-mediated commerce, with further share consolidation the central call.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Exhibit 6
Exhibit 7
