How to Pick the Best Shopify Theme for Your Ecommerce Store, For the sake of customer retention, it’s vital you provide a, Blog Design Inspiration: 20 Designs to Help You Start Your Blog, and Gen Xers spend six hours per week shopping online, Baby Boomers spend four hours per week shopping online, Seniors spend two and a half hours per week shopping online. Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. To learn how read: How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. There will be over 2 BILLION online customers by 2020. It is predicted that China will become the first country with over $1 trillion in online spending. Around 40% of retailers are using social media platforms to generate sales. Ecommerce Payment Stats: Which Methods do Shoppers Want? In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. Thankfully, there are numerous ways businesses can take advantage of social proof. In 2019, E-Commerce Sales Accounted for 14.1 Percent of All Retail Sales Worldwide (Statista) Considering that more than a tenth of all retail sales are made online, you can’t underestimate the importance of continuously optimizing your online store. (. In other words, the strength of ecommerce lies in its convenience. It may have taken you weeks of Facebook advertising and retargeting to entice these people to your website. And nowadays people will reach out through Facebook if they have questions. From 1,888 interviewed U.S online consumers, around 40% said that the reason why they didn’t make a purchase was because it wouldn’t arrive on time. Over 55% of social app users in China said that they are purchasing products through a social app. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. Sure, it might be tempting to reduce your prices to entice customers to buy, and then increase your shipping fees to make up for it. China’s market passed $1 trillion in value … For help, check out How to Start a Business in 2020. Social media continues to be a dominant force in the eCommerce sphere. This data predicts that by the end of 2020, global ecommerce sales will reach $4.2 trillion and make up 16% of total retail sales. E-Commerce Industry 2020 View Trends, Analysis and Statistics. I Have Lots of “Add to Carts” But No Conversions. Its goal is to measure the electric economy in particular and excludes companies with physical storefronts as long as they do not primarily fill e-commerce orders from their stores. More than 30 million U.S. business enterprises; 325 million Americans; and 93,000 tribal, state, and local governments rely on our data to make informed decisions. The United Arab Emirates were until 2015 the leading growth market for e-commerce in the Gulf Cooperation Council region. The second-largest ecommerce market in the world is the U.S with $586.9 billion. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. By 2021, world’s m-commerce sales will make up for 53.9% of all e-commerce sales. Ecommerce statistics: Amazon Amazon is the leading online retailer with a net revenue of $232.88 billion in 2018. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. The Key Takeaway: With more and more people shopping online each year, there’s never been a better time to start an online store. However, it’s worth noting that different demographics interact with online commerce differently. E-Commerce Industry 2020 View Trends, Analysis and Statistics. Harness the power of social proof to build trust and increase sales. Let's take a look at the numbers backing today's top B2B trends. With over $1.935 trillion in ecommerce sales. In the U.S. alone, online shopping already accounts for 10% of retail sales and is expected to grow at a year-on-year rate of 15%. Still, it’s important to choose a theme that works particularly well on mobile devices. According to mobile e-commerce stats, 2019 is the year of mobile commerce. You might even want to consider raising your prices slightly and offer free shipping. To do this, check out: Shopify’s Free Online Image Resizer. Back to E-Commerce Statistics (E-STATS) About. In fact, with an estimated global population of. 2008-2009 were challenging years for retailers. To gain inspiration, check out: Blog Design Inspiration: 20 Designs to Help You Start Your Blog. And what’s coming in 2020? Ensure you provide your customers with a stellar customer experience from start to finish. Ecommerce Statistic #12: Unexpected extra cost is the number one reason shoppers abandon carts. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). In it, you’ll learn 19 up-to-date ecommerce statistics and the best strategies to take advantage of them. Ecommerce Statistic #4: The number one reason people shop online is that they’re able to shop at all hours of the day. , it couldn’t be more simple to set up a website. More than 30 million U.S. business enterprises; 325 million Americans; and 93,000 tribal, state, and local governments rely on our data to make informed decisions. (, Around 55% of Gen Z users said that their clothing purchases were influenced by posts they saw on social media platforms. 75% of interviewed participants said that they have purchased a product on Amazon. The Key Takeaway: Advertise your products where shoppers who look up price comparisons will see them. How Much Does it Cost to Start a Dropshipping Store? Social Media eCommerce Statistics. Mobile Phones and Internet Usage Statistics 1. Source: Digital Commerce 360. The Key Takeaway: Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. Source:eMarketer. Amazon is also the leading e-commerce retailer in the world today, posting net revenues of $232.88 billion in 2018. Others in the series include: While ecommerce is thriving in all corners of the world, savvy retailers need to stay up to date with the latest ecommerce stats and keep up with the latest trends in the industry. Annually, more than $1 trillion in federal funds are distributed t… The second most important factor is the ease of shipping return followed by the cost of return. The problem? The Key Takeaway: Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. How E-Commerce Shipments, Sales, and Revenues Are Defined. E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. This isn’t particularly surprising. This is great news for ecommerce businesses. Global ecommerce statistics in 2018 show 75% of customers admitted they use social media as part of the buying process. Interesting eCommerce Statistics: By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce. Ecommerce Statistic #5: 65 percent of shoppers look up price comparisons on their mobile device while in a physical store. Experts predict that retail ecommerce sales will reach $4.13 trillion in 2020. Around 25.5% of interviewed participants in America said that they are using ad blocks on their devices. 37. There are between 95 to 100 million Amazon Prime members currently active on the platform. [5] The number of capabilities in e-commerce technology stacks is increasingTotal Cost of Ownership (TCO), making companies consider a unified cloud platform more than before. Luckily for us, e-commerce is widely studied, so there’s a ton of research about it. 1. (. Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. Consistently seek to improve your website’s conversion rate. The estimates in this release are based on data collected from four surveys conducted by the U.S. Census Bureau: the 2016 Annual Survey of … What is Native Advertising and Why Is It So Powerful? The Key Takeaway: Businesses without websites should set up an online store before they’re left in the dust. What’s more, this number is projected to reach a whopping 72.9 percent by 2021. A 2018 Moody’s report calculated the U.S. online food retail business at roughly $20 Billion. Businesses without websites should set up an online store before they’re left in the dust. (Statista) #2. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." According to US e-commerce statistics from Built With, there are more than 3.8 million such sites in the US, while the country’s top three e-commerce technologies are Shopify, Squarespace Commerce, and WooCommerce Checkout. MAY 24, 2018 — This report summarizes 2016 e-commerce statistics on shipments, sales and revenues from four sectors of the economy: manufacturing, wholesale, services and retail. In fact, the probability of a user bouncing off a mobile webpage increases by 32 percent when the page takes between one and three seconds to load (compared to pages that load in under one second). Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. That's why we’ve gathered the top 45 ecommerce statistics that you need to know. According to 99Firms’ Ecommerce Statistics for 2020, the ecommerce market is not only thriving, but it’s expected that more than 95% of all purchases to be conducted via ecommerce by 2040. Ecommerce Statistic #10: On average, only 2.86 percent of ecommerce website visits convert into a purchase. It goes by many names — cross-border commerce, borderless business, international online retail. They also value influencers opinions. To learn more, read: How to Pick the Best Shopify Theme for Your Ecommerce Store. Around 55% of them bought products from other marketplaces. Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade. According to mobile users statistics, there are 5.1 billion unique mobile users. After going through the entire checkout process, they’re confronted with a bunch of extra costs for shipping and taxes. Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. You already know that, but when you see some of the numbers, you’ll find they’re jaw-dropping. Ecommerce Statistic #9: Consumers are most likely to trust a business that makes it easy to contact people at the company. But this could lead to shoppers abandoning their carts. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). To learn more, read: How to Harness the Awesome Power of Customer Relations. To put it more precisely, China has 54.7% of the global market share. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. Statistics show that unhappy customers can tarnish the reputation of businesses and that most customers find the customer experience one of the most important aspects of doing business with a company. Omnichannel allows you to optimize your communications with potential customers to nurture them through the sales funnel however they come into contact with your business. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." It’s best to start things off with one of the … Around 9% of respondents said they used voice technology to shop once a week or more frequently. Around 20% of them reported that they didn’t order a product because the delivery date was not precise. Global ecommerce is not a luxury. One of the easiest and most effective ways is to decrease the size of the image files on your webpage. This means they’re often able to provide lower prices for customers. 10 Key Email Marketing Stats: 2020 Edition, 10 Key Mobile Commerce Stats and Trends: 2020 Edition. Strong relationships create trust. MAY 24, 2018 — This report summarizes 2016 e-commerce statistics on shipments, sales and revenues from four sectors of the economy: manufacturing, wholesale, services and retail. Online retailers that have at least one active social media account make 32% more sales than online retailers that don’t use social media platforms. One of the most obvious signs demonstrating the future of commerce’s place online is the fact that 13.7% of all global retail this year, according to e-commerce statistics, will occur on the web. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. The growth of ecommerce is out of this world! What’s more, Instagram…, Thinking about getting in on the trend of video and live streaming for your business and not quite sure how and where t…, In a world dominated by visual content, a captivating video can help drive your brand’s success. While fast shipping is in great demand, high spend for it isn’t. It’s not one strategy among many. This means they sell to and communicate with customers through multiple channels. 8. So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? Ecommerce Statistic #19: Younger people spend more time shopping online than older people. Done right, customers should look forward to purchasing from your business again in the future. Optimize your checkout process to reduce as many of those abandoned carts as possible. As many as 50% of B2B companies prefer blogging as a marketing strategy, while 40% look to sending email newsletters and creating social media content. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. Thankfully, there are tons of ways you can do this. 59% of Millennials will go to Amazon first when online shopping. Businesses without websites should set up an online store asap. This can make a huge difference to your bottom line. It’s growing so quickly that it’s expected to make up a whopping 17.5 percent of retail sales worldwide by 2021. In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! Around 30% of interviewed participants said that if they like a product they would order it through social media platforms. Ecommerce Statistics By the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. The statistics collected in the E-STATS report are primarily used to provide the business community and policymakers of the United States with relevant economic metrics, which inform business and policy decisions. India is currently the fastest growing ecommerce market. This statistic clearly shows how ecommerce is becoming a more and more important part of global commerce. Harness the power of social proof to increase sales. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Ecommerce Statistic #16: Mobile ecommerce is expected to account for 67.2 percent of digital sales in 2019. e-retail sales accounting for 14.1% of all retail sales, ecommerce continues to grow at a speedy rate. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. The Key Takeaway: Pay close attention to your website’s conversion rate and consistently work to increase it. Now, let’s jump to those mind-blowing statistics about mobile commerce. In 2019, total US ecommerce sales reached $595.5 billion, a 14.9 percent year-over-year increase from 2018’s $518.5 billion.It’s also one of the fastest US ecommerce growth rates in seven years, second to 2017’s 15.5 percent year-over-year increase. Oberlo uses cookies to provide necessary site functionality and improve your experience. Customer Retention: 10 Tips to Keep Your Customers Coming Back, Think about it, people don’t actually trust businesses per se – they place their trust in the. Build strong relationships with customers and make hands-on customer service a priority. The Key Takeaway: For the sake of customer retention, it’s vital you provide a fantastic mobile shopping experience. Learn more about the impact. Advertise your products where shoppers who look up price comparisons will see them. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? You can find thousands of ecommerce statistics on the web, but we’re here to give you the five leading statistics you need to know. Shoppers should find the process simple and intuitive. E-commerce industry helps organizations to provide better customer service and experience. This post is part of our Ecommerce Stats … The Asia-Pacific region is the fastest growing ecommerce region in the world. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. Well, you’re not alone. Create an email campaign to automatically follow up abandoned carts. The number of digital buyers worldwide is expected to reach 2.05 billion in 2020, accounting for a quarter of the world population. With e-retail sales accounting for 14.1% of all retail sales worldwide, ecommerce continues to grow at a speedy rate despite global economic uncertainty. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. Why Nobody Is Buying From Your Store – And What You Can Do About It, Help! In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. or display positive reviews and testimonials to build trust. Choose a great website theme that’s optimized for mobile devices. This ecommerce statistic hammers home how important mobile commerce is. Free shipping is the most important factor for consumers when choosing a retailer. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. Customer-centric companies experience … DigitalCommerce 360 made a survey on customer behaviour in 2019. Online shoppers make purchases via mobile more often than on PC. Around 51% of online shoppers conduct purchases via their smartphones. E-commerce shipments are online orders for manufactured products. Whether you own an online store or are looking to launch a scalable small business, understanding how internet users shop is key to your business model strategy. The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. The Key Takeaway: Make sure that your customer experience is built for convenience. In other words, a small increase in your online store’s conversion rate can massively increase profits. 1. Most of them scroll down Instagram for inspiration. Big data plays a big role in creating personalized experiences. According to Statista’s predictions, online retail is expected to hit the $6 trillion mark by the year 2023. Virtually every social media platform is a good platform for eCommerce activity and more are taking up the mantle. 83% of consumers in the past six months have made at least once purchase on Amazon. Online shoppers are most likely to abandon shopping carts due to high costs. Thankfully, there are numerous ways businesses can take advantage of social proof. This makes sense when you consider the high level of buyer intent shoppers have when they add products to their cart. Just to give you an idea, those numbers are currently, in 2020, in the $4 trillion range. This social media titan has more than 1 billion monthly active users. They’d rather watch a live video than read a blog post. Let's take a look at the numbers backing today's top B2B trends. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. (Shopify Plus, 2019) Consumers spent $601.75 billion online with U.S. merchants in 2019, which is up 14.9% in 2018. 93.5% … Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. Around 53% of online shoppers left a review on Amazon. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. Annually, more than $1 trillion in federal funds are distributed t… To learn more, read: How to Recover Abandoned Carts. Statistics on " E-commerce in France " The most important statistics. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. Absolunet 10 Ecommerce Trends in 2019 found that social buying is on the rise. Competitive prices and free shipping are the two most important factors for online shoppers when choosing a retailer during the holidays. Ecommerce Statistic #17: Users who have a negative experience on a mobile website are 62 percent less likely to purchase from that business in the future. Of course, not all personalization is … Gen Z and Millenials are most likely to make a purchase influenced by social media. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. Start a business and design the life you want – all in one place. Ecommerce Statistic #18: Longer mobile page load times drastically increase bounces. To learn more, read: Should You Offer Free Shipping? eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Perhaps you spent ages choosing the right products and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! About the Report. Plus, many people already have existing accounts on large ecommerce marketplaces that they know and trust. The Key Takeaway: Ensure you provide your customers with a stellar customer experience from start to finish. Omnichannel is the next level up – and it’s the future of ecommerce. Important E-Commerce Industry Statistics #1. Creating a robust economy requires an enormous amount of data, and we are the nation’s preeminent producer of public data. In this article, we’re going to take a look at the most important ecommerce statistics for 2020 – from mobile commerce stats, consumer behaviour, social media and shopping cart abandonment to the ecommerce market share. By 2020, the m-commerce sales from smartphones will see a growth of 31.5% and generate nearly $270 billion. What’s in it for you? Let us know in the comments below! It’s extremely important to have a clearly defined target market. It is expected that mobile commerce will take a market share of ecommerce of 72.9% by 2021. Well, by the end of 2019 (according to data from Statista) the global ecommerce market had sales reaching $3.5 trillion and represented 14% of the total share of global retail sales. The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. For this reason, the strategy requires organization and the integration of new technologies. and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! As more global internet users shop online, e … eMarketer’s Global Ecommerce Forecast 2019 Report forecasts that ecommerce will continue to grow at a steady rate around the globe with the Asia-Pacific region leading the ecommerce growth charts. Make the checkout process short, fast, and easy. Don’t wait for someone else to do it. Other key reasons include the ability to compare prices (54 percent), lower prices (46 percent), to save time, and the convenience of not having to go out shopping. This will instill trust and help shoppers with their research. Capture shoppers attention by creating killer ad designs. 1 in 4 companies is selling items via Facebook. After being let down by a business, it’s understandable that consumers would be hesitant to buy from them again. Ecommerce Statistic #15: Nearly half (48 percent) of online shoppers simply head straight to a large ecommerce marketplace. Worldwide ecommerce sales … 56% of the world’s population has internet access. The results released based on these data collections are often called statistics. by Aaron Orendorff. The number one reason why consumers decide to shop on a marketplace instead at a retailer is the price tag. Ecommerce Statistic #13: Abandoned cart follow-up emails have an average open rate of 45 percent. The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. Ecommerce statistics: Amazon. According to US e-commerce statistics from Built With, there are more than 3.8 million such sites in the US, while the country’s top three e-commerce technologies are Shopify, Squarespace Commerce, and WooCommerce Checkout. What’s more, even when you have relevant, accurate statistics, it can be difficult to quickly extract effective strategic insights. Online shoppers think that social media platforms benefit their purchasing decisions. The United Arab Emirates were until 2015 the leading growth market for e-commerce in the Gulf Cooperation Council region. So when we talk about the ecommerce figures as a percentage of the internet users in the country, we are taking into account nearly the entire population of the country. Remember, Google is by far. One of the most obvious signs demonstrating the future of commerce’s place online is the fact that 13.7% of all global retail this year, according to e-commerce statistics, will occur on the web. We are independently owned and the opinions expressed here are our own. Ecommerce Statistic #11: 69 percent of shopping carts are abandoned. These surveys used different measures of economic activity such as shipments for manufacturing, sales for wholesale and retail trade, and revenues for service industries. Creating a robust economy requires an enormous amount of data, and we are the nation’s preeminent producer of public data. (. Avoid springing high fees on customers during the checkout process and consider offering free shipping. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. We tested and reviewed the services reviewed here. Learn more by reading: Omnichannel Explained: Why You Need It and 3 Killer Examples. 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