The average shopping cart abandonment rate is around 68.8%. According to mobile users statistics, there are 5.1 billion unique mobile users. The Key Takeaway: Pay close attention to your website’s conversion rate and consistently work to increase it. 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. Competitive prices and free shipping are the two most important factors for online shoppers when choosing a retailer during the holidays. I Have Lots of “Add to Carts” But No Conversions. 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. The E-Commerce Statistics (E-STATS) report is conducted by the United States Census Bureau to measure the value of goods and services sold online. E-Commerce Industry 2020 View Trends, Analysis and Statistics. Around 51% of online shoppers conduct purchases via their smartphones. China’s market passed $1 trillion in value … Amazon is the leading online retailer with a net revenue of $232.88 billion in 2018. [5] Social Media Influence E-commerce data were collected in four separate Census Bureau surveys. And to effectively build trust, check out: 9 Ways to Boost Sales by Making Your Store More Trustworthy. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. The Key Takeaway: Ensure you provide your customers with a stellar customer experience from start to finish. Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will double your sales. 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. So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? Optimize your checkout process to reduce as many of those abandoned carts as possible. 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. 10 Entrepreneur Statistics You Need to Know in 2020 [Infographic], 10 Mobile Usage Statistics Every Marketer Should Know in 2020 [Infographic], 10 Remote Work Statistics That You Need to Know in 2020 [Infographic]. Around 55% of them bought products from other marketplaces. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. Ecommerce Statistic #7: 81 percent of consumers trust the advice of friends and family over businesses. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. Source: eMarketer. Harness the power of social proof to increase sales. Many of the statistics touted online can be at best outdated, and at worst wildly inaccurate. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. Please refer to the Latest Quarterly E-Commerce Report for revised time series data. They even add a product to their shopping cart… only for two-thirds of them to click away. Absolunet 10 Ecommerce Trends in 2019 found that social buying is on the rise. Total Retail Growth Rate Calculated by comparing U.S. Total Retail Sales values to the year before. Online shoppers make purchases via mobile more often than on PC. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. Ecommerce Statistic #9: Consumers are most likely to trust a business that makes it easy to contact people at the company. Don’t wait for someone else to do it. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. To learn how check out: The Beginner’s Guide to Boosting Sales With Google Shopping Ads. For example, you can engage in. EU Statistics on electronicThis article focuses on the electronic commerce statistics in the European Union (EU) and is based on the results of the 2019 survey on 'ICT usage and e-commerce in enterprises'.E-commerce refers here to the trading of goods or services over computer networks such as the internet by methods specifically designed for the purpose of receiving or placing orders. If these numbers make you … What’s more, this number is rising rapidly and is expected to hit a massive 2.14 billion people in 2021. It is expected that mobile commerce will take a market share of ecommerce of 72.9% by 2021. (Ovum’s The Future of E-commerce: The Road to 2026) The UK is generally considered the world’s most mature click-and-collect market, so it spearheads this global trend. Thankfully, there are numerous ways businesses can take advantage of social proof. 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. It’s extremely important to have a clearly defined target market. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. Why You Desperately Need a Defined Target Market and Target Audience. Interesting eCommerce Statistics: By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. Make sure that your customer experience is built for convenience. After being let down by a business, it’s understandable that consumers would be hesitant to buy from them again. In fact, with an estimated global population of. 6 Vital Email Templates Every Online Business Should Steal, Omnichannel is the next level up – and it’s, Omnichannel allows you to optimize your communications with potential customers to nurture them through the. Online shoppers are more likely to abandon their shopping cart if businesses require them to make an account. Now, let’s jump to those mind-blowing statistics about mobile commerce. They’d rather watch a live video than read a blog post. In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! Boost customer retention by providing a stellar customer experience. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Statistics on " E-commerce in France " The most important statistics. A 2018 Moody’s report calculated the U.S. online food retail business at roughly $20 Billion. Previous Releases (Q4 1999 to present) Select the year, quarter, and format, and click "Get Release" to generate the report you would like to view. Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. With over $1.935 trillion in ecommerce sales. The … To learn more, check out: Why Nobody Is Buying From Your Store – And What You Can Do About It and Help! China’s market size is twice the size of the US one in 2017. What’s more, this number is projected to reach a whopping 72.9 percent by 2021. 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. Advertise your products where shoppers who look up price comparisons will see them. 36. To learn more, read: Why You Desperately Need a Defined Target Market and Target Audience. E-commerce industry helps to build brand image of a company and increases visibility of products on a global scale. The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. Ecommerce Statistic #5: 65 percent of shoppers look up price comparisons on their mobile device while in a physical store. Global Ecommerce Statistics and Trends to Launch Your Business Beyond Borders. The results released based on these data collections are often called statistics. In other words, a small increase in your online store’s conversion rate can massively increase profits. We are independently owned and the opinions expressed here are our own. How Much Does it Cost to Start a Dropshipping Store? What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. (Shopify Plus, 2019) Consumers spent $601.75 billion online with U.S. merchants in 2019, which is up 14.9% in 2018. This site features recent and upcoming releases, information on methodology, and background papers. However, The Baymard Institute found that the average ecommerce websites need to work on at least 39 areas in order to improve the checkout process. Let us know in the comments below! To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to them. Ecommerce Statistic #13: Abandoned cart follow-up emails have an average open rate of 45 percent. This means they’re often able to provide lower prices for customers. Gen Z and Millenials are most likely to make a purchase influenced by social media. Complicated checkout processes and forcing customers to create accounts are also huge turnoffs. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. Creating a robust economy requires an enormous amount of data, and we are the nation’s preeminent producer of public data. Harness the power of social proof to build trust and increase sales. The second most important factor is the ease of shipping return followed by the cost of return. [5] Social Media Influence How E-Commerce Shipments, Sales, and Revenues Are Defined. This can make a huge difference to your bottom line. It goes by many names — cross-border commerce, borderless business, international online retail. Once again, this trend offers opportunity for new entrepreneurs. Ensure your website is optimized for mobile devices. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. 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. Reasons like convenience and cost-savings are prompting people to adapt ecommerce, while fact… , the average email open rate for ecommerce businesses is just. Thankfully, these days, most website themes come optimized for mobile. Source: Baymard Institute. Smartphones will account for 34% of all m-commerce sales in 2019. 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. 68% of interviewed participants said that they check whether a product is available in a local brick-and-mortar shop. 2008-2009 were challenging years for retailers. Businesses without websites should set up an online store before they’re left in the dust. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. According to mobile e-commerce stats, 2019 is the year of mobile commerce. Online shoppers are most likely to abandon shopping carts due to high costs. Luckily for us, e-commerce is widely studied, so there’s a ton of research about it. The UK is the leading ecommerce market in Europe with $141.93 billion in ecommerce sales, followed by Germany ($81.85 billion) and France ($69.43 billion). To learn more, read: How to Harness the Awesome Power of Customer Relations. Worldwide ecommerce sales … Roughly speaking, this means that only 1 in 34 website visitors actually buys something. 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. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. Strong relationships create trust. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. Friends and family just want what’s best for you, whereas businesses have an ulterior motive in promoting their products: profit. One of the easiest and most effective ways is to decrease the size of the image files on your webpage. US ecommerce will continue to grow by double digits in 2019 amid a strong economic backdrop that is beginning to moderate compared with prior years. In comparison, according to MailChimp, the average email open rate for ecommerce businesses is just 15.66 percent. To put it more precisely, China has 54.7% of the global market share. In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! Ecommerce Statistic #8: 80 percent of people stop doing business with a company because of poor customer experience. According to Statista’s predictions, online retail is expected to hit the $6 trillion mark by the year 2023. E-Commerce Industry 2020 View Trends, Analysis and Statistics. B2B Ecommerce Statistics. Ecommerce Statistic #12: Unexpected extra cost is the number one reason shoppers abandon carts. What’s more, even when you have relevant, accurate statistics, it can be difficult to quickly extract effective strategic insights. The second-largest ecommerce market in the world is the U.S with $586.9 billion. The growth of ecommerce is out of this world! As more global internet users shop online, e … (. We tested and reviewed the services reviewed here. Important E-Commerce Industry Statistics #1. To learn more, read: How to Recover Abandoned Carts. Build strong relationships with your customers and make hands-on customer service a priority. By 2021, world’s m-commerce sales will make up for 53.9% of all e-commerce sales. Pay close attention to your website’s conversion rate and consistently work to increase it. By using our website, you agree to our privacy policy. With so many businesses slow to capitalize on the growing ecommerce trend, this is great news for new and existing ecommerce entrepreneurs. There’s never been a better time to start an online store. Ecommerce statistics can help you see the big picture by answering these questions and more. COVID-19 is affecting many ecommerce businesses and how consumers shop online. Done right, customers should look forward to purchasing from your business again in the future. To learn how read: How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. Around 53% of online shoppers left a review on Amazon. Plus, with tools like Shopify, it couldn’t be more simple to set up a website. Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade. U.S. E-Commerce statistics compiled from press releases, earnings reports and Marketplace Pulse data. To gain inspiration, check out: Blog Design Inspiration: 20 Designs to Help You Start Your Blog. (. What is Native Advertising and Why Is It So Powerful? But this could lead to shoppers abandoning their carts. Shopping cart abandonment is a big topic for ecommerce businesses. E-commerce industry helps to build brand image of a company and increases visibility of products on a global scale. 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. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. eCcommerce is one of the most profitable industries in the … Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide. If these numbers make you … Choose a great website theme that’s optimized for mobile devices. This also means providing fast shipping and hassle-free returns. Capture shoppers attention by creating killer ad designs. Learn more about the impact. Make the checkout process short, fast, and easy. DigitalCommerce 360 made a survey on customer behaviour in 2019. By 2020, the m-commerce sales from smartphones will see a growth of 31.5% and generate nearly $270 billion. Still, it’s important to choose a theme that works particularly well on mobile devices. Get your products to appear in Google’s Shopping search results. Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Remember, the ability to research purchases is one of the key reasons people shop online instead of in-store. With it, you can make informed strategic decisions that will pay dividends in the future. Create great product pages that are detailed, accurate, and answer every question shoppers might have. (. Ecommerce Statistic #16: Mobile ecommerce is expected to account for 67.2 percent of digital sales in 2019. This post is part of our Ecommerce Stats series. You already know that, but when you see some of the numbers, you’ll find they’re jaw-dropping. 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. e-retail sales accounting for 14.1% of all retail sales, ecommerce continues to grow at a speedy rate. E-commerce shipments are online orders for manufactured products. Social Proof: What It Is and Why It’s Great for Marketing. They’ve done their research and decided to purchase your product. Optimize your customer experience for convenience – one way you can do this is to set up a Facebook Shop. Ecommerce Statistic #10: On average, only 2.86 percent of ecommerce website visits convert into a purchase. Ensure you provide your customers with a stellar customer experience from start to finish. Ecommerce Statistic #4: The number one reason people shop online is that they’re able to shop at all hours of the day. 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. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). Hire yourself and start calling the shots. Free shipping plays a decisive role for online shoppers. [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. Plus, you should make sure to view your website on many different types of device to ensure it looks great however shoppers access it. Learn more by reading: Omnichannel Explained: Why You Need It and 3 Killer Examples. Optimize your website to instill trust in visitors quickly. The number of digital buyers worldwide is expected to reach 2.05 billion in 2020, accounting for a quarter of the world population. This is a psychological phenomenon often referred to as “social proof.”. 1. 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. About the Report. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. It’s not one strategy among many. Global ecommerce statistics in 2018 show 75% of customers admitted they use social media as part of the buying process. The longer the load time, the higher the bounce rate: Speed matters – people won’t wait around if your website is slow to load. The Key Takeaway: Ensure your website loads fast – super fast. 1. Ecommerce Statistics 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. 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. So it’s likely that most of your customers will be accessing your website from a mobile device. These statistics are available for the nation from 1998.. Ecommerce Statistic #15: Nearly half (48 percent) of online shoppers simply head straight to a large ecommerce marketplace. Of course, not all personalization is … Around 40% of retailers are using social media platforms to generate sales. For more help, read How Much Does it Cost to Start a Dropshipping Store? The research showed that 61% of the interviewed participants don’t compare shops on another website once they find a product they like. The Beginner’s Guide to Boosting Sales With Google Shopping Ads. To do this, check out: Shopify’s Free Online Image Resizer. [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. (, Ecommerce grow to reach almost a third of all UK retail sales in May and June 2020. Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. Global ecommerce is not a luxury. There will be over 2 BILLION online customers by 2020. To learn more, read: How to Pick the Best Shopify Theme for Your Ecommerce Store. Left unchecked, providing a poor customer experience will be the death of any business. Annually, more than $1 trillion in federal funds are distributed t… Without it, you must resort to guesswork that may cost you dearly. The problem? It may have taken you weeks of Facebook advertising and retargeting to entice these people to your website. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. 1 in 4 companies is selling items via Facebook. This can make a huge difference to your bottom line. Instagram is a powerhouse. The Key Takeaway: Businesses that can create a seamless, personalized omnichannel experience for customers will own the future of commerce. and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! If you want to find out more about ecommerce or learn how you can incorporate ecommerce stats in your ecommerce strategy, feel free to contact our team at EcommerceGuide. , that’s about 25 percent of the world’s population shopping online. 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. And ensure customer service representatives are easily accessible. This will instill trust and help shoppers with their research. Look to create a seamless, personalized omnichannel experience for customers. Ecommerce websites can see an increase of 35.26% in conversion rate if they have good checkout design. The number one reason why consumers decide to shop on a marketplace instead at a retailer is the price tag. But creating stunning …. Ecommerce Statistic #18: Longer mobile page load times drastically increase bounces. In 2021, there will be more than 2.14 billion digital buyers worldwide, up from 1.66 billion in 2016. This invaluable data is what will help you make strategic decisions that’ll help you grow your business even further. (, TikTok users can add ecommerce links in their biography. The Key Takeaway: Ensure your website is optimized for mobile devices. Oberlo uses cookies to provide necessary site functionality and improve your experience. Ecommerce Statistic #19: Younger people spend more time shopping online than older people. Three of the six largest ecommerce markets are in Western Europe. Most of them scroll down Instagram for inspiration. Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. And what’s coming in 2020? 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! Given that millennials represent the … After going through the entire checkout process, they’re confronted with a bunch of extra costs for shipping and taxes. 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%. UK eCommerce statistics have predicted that by 2020, the value of goods purchased online and picked up in retail locations across the country will increase by 78%. 10 Key Email Marketing Stats: 2020 Edition, 10 Key Mobile Commerce Stats and Trends: 2020 Edition. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. Ecommerce Payment Stats: Which Methods do Shoppers Want? 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. How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. 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. Plus, many people already have existing accounts on large ecommerce marketplaces that they know and trust. (, Around 55% of Gen Z users said that their clothing purchases were influenced by posts they saw on social media platforms. Around 30% of interviewed participants said that if they like a product they would order it through social media platforms. Customer-centric companies experience … 59% of Millennials will go to Amazon first when online shopping. Around 21% of online shoppers decided to abandon their shopping cart because the process was too complicated. In turn, this will help to increase conversions and customer retention. Source:eMarketer. This will allow you to tailor every aspect of your customer experience to the needs and preferences of your ideal customers. 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. 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. Free shipping is the most important factor for consumers when deciding from which retailer to make a purchase. Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. E-Commerce Statistics and Market Data about E-commerce This page provides statistics, facts and market data related to electronic commerce (e-commerce). The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? How to Harness the Awesome Power of Customer Relations, Roughly speaking, this means that only 1 in 34 website visitors, Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will. 37. Social Media eCommerce Statistics. Understanding the scope of e-commerce is important, as is understanding its many nuances. In it, you’ll learn 19 up-to-date ecommerce statistics and the best strategies to take advantage of them. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." Resize your images to improve your website’s load speed. 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. The fastest growing ecommerce market in the world is China. This is great news for ecommerce businesses. This ecommerce statistic hammers home how important mobile commerce is. For help, check out How to Start a Business in 2020. The United Arab Emirates were until 2015 the leading growth market for e-commerce in the Gulf Cooperation Council region. It is predicted that China will become the first country with over $1 trillion in online spending. The Global Consumer Survey Report 2019 suggests that investing in customer experience should be a priority to businesses. Source: Digital Commerce 360, Delivery time is important to online shoppers. Ecommerce Statistics By the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. The results released based on these data collections are often called statistics. From other marketplaces buying process and consistently work to increase it have relevant accurate! With an estimated global population of experience worldwide your website ’ s that. Are most likely to abandon their shopping cart if businesses require them to click away of. Is twice the size of the global market share of ecommerce website convert! 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