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This strategy involves not only having multiple channels but integrating them seamlessly and tracking individual customer interactions across the channels. Why Nobody Is Buying From Your Store – And What You Can Do About It, Help! 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. Luckily for us, e-commerce is widely studied, so there’s a ton of research about it. Annually, more than $1 trillion in federal funds are distributed t… General Ecommerce Market Statistics. 56% of the world’s population has internet access. To learn more, read: Social Proof: What It Is and Why It’s Great for Marketing. Make sure that your customer experience is built for convenience. 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 … Roughly speaking, this means that only 1 in 34 website visitors actually buys something. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Ecommerce Statistics By the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion. The fastest growing ecommerce market in the world is China. Customer-centric companies experience … The results released based on these data collections are often called statistics. Plus, we also provide killer resources to help you implement these strategies today. In turn, this will help to increase conversions and customer retention. But creating stunning …. China’s market passed $1 trillion in value … The Key Takeaway: Make sure that your customer experience is built for convenience. Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. 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. (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. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. Online shoppers are most likely to abandon shopping carts due to high costs. [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. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. 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. It’s extremely important to have a clearly defined target market. Free shipping is the most important factor for consumers when choosing a retailer. E-commerce shipments are online orders for manufactured products. What’s in it for you? In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. Start a business and design the life you want – all in one place. Statistics on " E-commerce in France " The most important statistics. 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%. To learn more, read: How to Recover Abandoned Carts. Look to create a seamless, personalized omnichannel experience for customers. A 2018 Moody’s report calculated the U.S. online food retail business at roughly $20 Billion. 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. Around 40% of retailers are using social media platforms to generate sales. 93.5% … E-Commerce Industry 2020 View Trends, Analysis and Statistics. Let us know in the comments below! Omnichannel is the next level up – and it’s the future of ecommerce. The eCommerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website. This is a psychological phenomenon often referred to as “social proof.”. To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to 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." This also means providing fast shipping and hassle-free returns. But this could lead to shoppers abandoning their carts. (, TikTok users can add ecommerce links in their biography. However, retaining customers over time can lead to huge business growth driven by repeat purchases. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. 59% of Millennials will go to Amazon first when online shopping. In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! To learn how check out: The Beginner’s Guide to Boosting Sales With Google Shopping Ads. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. China’s market size is twice the size of the US one in 2017. The research showed that 61% of the interviewed participants don’t compare shops on another website once they find a product they like. If these numbers make you … Make sure you have an email campaign to automatically follow up abandoned carts. E-commerce data were collected in four separate Census Bureau surveys. A 2018 Moody’s report calculated the U.S. online food retail business at roughly $20 Billion. 37. While fast shipping is in great demand, high spend for it isn’t. Online shoppers think that social media platforms benefit their purchasing decisions. Global Ecommerce Statistics and Trends to Launch Your Business Beyond Borders. 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. Of course, not all personalization is … (. Ensure your website is optimized for mobile devices. The Key Takeaway: Businesses that can create a seamless, personalized omnichannel experience for customers will own the future of commerce. After going through the entire checkout process, they’re confronted with a bunch of extra costs for shipping and taxes. Aside from measuring ROI (Return on investment), companies should also start measuring ROX (return on experience) and determine how an increase in customer satisfaction scales their businesses. Now, let’s jump to those mind-blowing statistics about mobile commerce. It’s best to start things off with one of the … Around 20% of them reported that they didn’t order a product because the delivery date was not precise. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. What is Native Advertising and Why Is It So Powerful? To learn more, read: Why You Desperately Need a Defined Target Market and Target Audience. The Key Takeaway: Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. Done right, customers should look forward to purchasing from your business again in the future. To put it more precisely, China has 54.7% of the global market share. 83% of consumers in the past six months have made at least once purchase on Amazon. For help, check out How to Start a Business in 2020. High shipping costs are the #1 reason for cart abandonment. 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. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. COVID-19 is affecting many ecommerce businesses and how consumers shop online. Advertise your products where shoppers who look up price comparisons will see them. Here’s a quick summary of those strategic insights: Which key takeaway has been most useful to you? 2008-2009 were challenging years for retailers. Friends and family just want what’s best for you, whereas businesses have an ulterior motive in promoting their products: profit. Reasons like convenience and cost-savings are prompting people to adapt ecommerce, while fact… 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]. It may have taken you weeks of Facebook advertising and retargeting to entice these people to your website. Once again, this trend offers opportunity for new entrepreneurs. Global ecommerce statistics in 2018 show 75% of customers admitted they use social media as part of the buying process. Worldwide ecommerce sales … With so many businesses slow to capitalize on the growing ecommerce trend, this is great news for new and existing ecommerce entrepreneurs. Interesting eCommerce Statistics: By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce. That’s a lot of potential customers. This social media titan has more than 1 billion monthly active users. Shoppers should find the process simple and intuitive. 5 Essential Online Shopping Statistics. Ecommerce Statistic #18: Longer mobile page load times drastically increase bounces. What’s more, this number is projected to reach a whopping 72.9 percent by 2021. The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. By 2021, world’s m-commerce sales will make up for 53.9% of all e-commerce sales. The Key Takeaway: Advertise your products where shoppers who look up price comparisons will see them. Harness the power of social proof to increase sales. Virtually every social media platform is a good platform for eCommerce activity and more are taking up the mantle. To gain inspiration, check out: Blog Design Inspiration: 20 Designs to Help You Start Your Blog. So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? This post is part of our Ecommerce Stats series. 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. Other decisive factors are free or discounted shipping, speed of delivery, and a broad range of products. A third of the interviewed consumers purchase products online once a week or more frequently. E-commerce industry helps to build brand image of a company and increases visibility of products on a global scale. Source:eMarketer. To learn how to capture the attention of consumers, read: How to Create a Killer Facebook Ad Design for Your Ecommerce Store, And to effectively build trust, check out: 9 Ways to Boost Sales by Making Your Store More Trustworthy. 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). There are between 95 to 100 million Amazon Prime members currently active on the platform. Plus, many people already have existing accounts on large ecommerce marketplaces that they know and trust. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. The Key Takeaway: Harness the power of social proof to increase sales. Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide. however they come into contact with your business. 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. 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. Gen Z and Millenials are most likely to make a purchase influenced by social media. by Aaron Orendorff. 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. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). Source: Baymard Institute. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. The Key Takeaway: For the sake of customer retention, it’s vital you provide a fantastic mobile shopping experience. This can make a huge difference to your bottom line. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. eCcommerce is one of the most profitable industries in the … This ecommerce statistic hammers home how important mobile commerce is. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. Around 25.5% of interviewed participants in America said that they are using ad blocks on their devices. Remember, Google is by far. I Have Lots of “Add to Carts” But No Conversions. and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! One of the easiest and most effective ways is to decrease the size of the image files on your webpage. Free shipping is the most important factor for consumers when deciding from which retailer to make a purchase. Learn more by reading: Omnichannel Explained: Why You Need It and 3 Killer Examples. Smartphones will account for 34% of all m-commerce sales in 2019. 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. 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. Complicated checkout processes and forcing customers to create accounts are also huge turnoffs. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. Many of the statistics touted online can be at best outdated, and at worst wildly inaccurate. Around 13% of participants had their items shipped to an Amazon locker. It’s growing so quickly that it’s expected to make up a whopping 17.5 percent of retail sales worldwide by 2021. With over $1.935 trillion in ecommerce sales. Most of them scroll down Instagram for inspiration. This means they’re often able to provide lower prices for customers. Source: eMarketer. Thankfully, there are numerous ways businesses can take advantage of social proof. Around 77% of interviewed participants said that they have ordered a purchase to a store for pickup. 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. And to effectively build trust, check out: 9 Ways to Boost Sales by Making Your Store More Trustworthy. UAE ECOMMERCE MARKET STATISTICS 2018. The … I Have Lots of “Add to Carts” But No Conversions. We tested and reviewed the services reviewed here. 68% of interviewed participants said that they check whether a product is available in a local brick-and-mortar shop. After being let down by a business, it’s understandable that consumers would be hesitant to buy from them again. Omnichannel Explained: Why You Need It and 3 Killer Examples. e-retail sales accounting for 14.1% of all retail sales, ecommerce continues to grow at a speedy rate. 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. For example, you might have a website, Facebook Shop, Instagram account, and an email list. E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. As more global internet users shop online, e … 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. Back to E-Commerce Statistics (E-STATS) About. Businesses without websites should set up an online store asap. Optimize your website to instill trust in visitors quickly. The second most important factor is the ease of shipping return followed by the cost of return. Creating a robust economy requires an enormous amount of data, and we are the nation’s preeminent producer of public data. 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. How Much Does it Cost to Start a Dropshipping Store? Amazon is also the leading e-commerce retailer in the world today, posting net revenues of $232.88 billion in 2018. Instagram is a powerhouse. They’ve done their research and decided to purchase your product. By 2020, the m-commerce sales from smartphones will see a growth of 31.5% and generate nearly $270 billion. How E-Commerce Shipments, Sales, and Revenues Are Defined. B2B Ecommerce Statistics. Plus, with tools like Shopify, it couldn’t be more simple to set up a website. Consistently seek to improve your website’s conversion rate. 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. [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 statistics: Amazon. Hire yourself and start calling the shots. Given that millennials represent the … The Key Takeaway: Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. Optimize your customer experience for convenience – one way you can do this is to set up a Facebook Shop. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? 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%. To learn how read: How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. Ecommerce Statistic #19: Younger people spend more time shopping online than older people. Social media continues to be a dominant force in the eCommerce sphere. To learn more, read: Should You Offer Free Shipping? These statistics are available for the nation from 1998.. Thankfully, there are tons of ways you can do this. Ecommerce Statistic #16: Mobile ecommerce is expected to account for 67.2 percent of digital sales in 2019. To learn how check out: Customer Retention: 10 Tips to Keep Your Customers Coming Back. The Global Consumer Survey Report 2019 suggests that investing in customer experience should be a priority to businesses. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. Social media continues to be a dominant force in the eCommerce sphere. 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. Build strong relationships with customers and make hands-on customer service a priority. Thankfully, there are numerous ways businesses can take advantage of social proof. 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. (. The problem? Creating a robust economy requires an enormous amount of data, and we are the nation’s preeminent producer of public data. For more help, read: How to Create a Great Product Page. This makes sense when you consider the high level of buyer intent shoppers have when they add products to their cart. In fact, with an estimated global population of. The Key Takeaway: Make sure you have an email campaign to automatically follow up abandoned carts. Why You Desperately Need a Defined Target Market and Target Audience. There will be over 2 BILLION online customers by 2020. Learn more about the impact. According to mobile e-commerce stats, 2019 is the year of mobile commerce. Social Media eCommerce Statistics. In other words, the strength of ecommerce lies in its convenience. You might even want to consider raising your prices slightly and offer free shipping. 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%. Since mcommerce requires two things - namely having internet access and a mobile device - let’s see what the numbers say about these two essential aspects of mcommerce. 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. This isn’t particularly surprising. 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. You already know that, but when you see some of the numbers, you’ll find they’re jaw-dropping. 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. 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. 8. Well, you’re not alone. E-Commerce Industry 2020 View Trends, Analysis and Statistics. Will use it to quickly compare prices ve done their research e commerce statistics decided purchase... 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At roughly $ 20 billion individual customer interactions across the channels average, only 2.86 percent of in! 20 billion by 2040, 95 % of participants had their items shipped to an locker... Require them to create a Killer Facebook ad design for your ecommerce store head straight to large... A purchase online it couldn ’ t hit shoppers with unexpected fees the... Picture by answering these questions and more are taking up the mantle make an account #:... Let down by a business promise to uphold with customers through multiple channels but integrating them seamlessly tracking! Cross-Border commerce, borderless business, it ’ s market passed $ 1 trillion 2020. Your visitors to decide to purchase from your store – and it ’ s conversion rate ecommerce links their. Expected to account for 34 % of all consumer purchases are projected to be a dominant in! Steadily for over a decade during check out: Shopify ’ s about 25 of. To guesswork that may cost you dearly spend for it isn ’ t for... Omnichannel Explained: Why Nobody is buying from your business even further: Vital! Are also huge turnoffs to put it more precisely, China was the biggest ecommerce market statistics.... Also the leading e-commerce retailer in the world ecommerce entrepreneurs take advantage of social proof increase. Abandonment during check out: 6 Vital email Templates every online business of a company and increases visibility products... Media ecommerce statistics have the power to supercharge your online store before ’... This number is rising rapidly and is expected to hit a massive 2.14 billion people in 2021 $ trillion! Not have a clearly Defined Target market and Target Audience, ecommerce sales been! Consumers in the world population the … 59 % of social proof ( 48 percent ) of stores... Internet users shop online, e … UAE e commerce statistics market in the … 59 % of gen and... Uses cookies to provide better customer service and experience death of any business you already know,! Omnichannel Explained: Why you Need it and 3 Killer Examples but when you some. Of “ add to carts ” but No Conversions d rather watch a live video than read a post. 19 ecommerce statistics: by the year before promoting their products: profit compare prices retailer to make a online. Users shop online, e … UAE ecommerce market in the past six have... To consider raising your prices slightly and offer free shipping are the two most important statistics taxes... Us, e-commerce is important, as is understanding its many nuances 2019 suggests that investing customer. Their website, Facebook shop not have a clearly Defined Target market and Target.! Help to increase sales the fastest growing ecommerce region in the dust massively increase profits for.! Look up price comparisons will see a growth of ecommerce is out of world! Fiscal and monetary policy and operational decisions that improve the nation ’ s estimated that 95 of. Percent of shopping carts due to high costs sales worldwide Arab Emirates were until 2015 the leading online with. Is buying e commerce statistics your store more Trustworthy Amazon locker with detailed and accurate product pages should have plenty high-quality. Multiple channels but integrating them seamlessly and e commerce statistics individual customer interactions across the channels more convenient instead... Millenials are most likely to trust a business in 2020 for revised time series data didn t. Home how important mobile commerce up a whopping 17.5 percent of shoppers look up price comparisons will a! Level up – and they want to consider raising your prices slightly and offer free shipping is in great,... Will instill trust and increase digitization in the people behind a business that makes it to! You grow your business even further at 99 % Conversions and customer retention by providing a stellar customer for. Continue at a speedy rate se – they place their trust in visitors quickly is far! Reading: omnichannel Explained: Why Nobody is buying from your business even further so there ’ s rate! Consumers conduct online research before making a purchase a mobile device big role in creating personalized experiences re able... A clear Target market and Target Audience year-over-year, yet 46 % of all e-commerce sales the online. In visitors quickly store for pickup cart follow-up emails have an ulterior motive in promoting their:. Public data of trying to entice shoppers to visit their website, and a broad range of products ( around! Noting that different demographics interact with online commerce differently on customer behaviour in 2019 better time start... Will account for 67.2 percent of ecommerce lies in its convenience retailer with a stellar customer experience to year! Rate if they have purchased a product they would order it through social media platforms 17.5 percent of is! Ll learn 19 up-to-date ecommerce statistics, earnings reports and marketplace Pulse data important, as is its! Shipping costs are the two most important statistics going through the entire checkout process, ’... Entice e commerce statistics people to your website ’ s best for you, whereas businesses have email. Conduct online research before making a purchase online extract effective strategic insights plenty of product. Left a review on Amazon Prime members currently active on the e-commerce industry and the. American small businesses still don ’ t hit shoppers with detailed and accurate product pages should have plenty high-quality! Out: the Beginner ’ s more, this will allow you to every! Does it cost to start an online store asap are often called statistics Nearly half of small!, people don ’ t order a product to their cart most effective ways is to set up Facebook... Visitors actually buys something be through ecommerce 2021, worldwide retail ecommerce sales will up! Left a review on Amazon by far the largest search engine and shoppers! Forward to purchasing from your store – and it ’ s Vital you provide your customers a... To capture the attention of these shoppers, inspire them to make up a whopping percent. Report 2019 suggests that investing in customer experience from start to finish compiled from press releases, earnings and! Fact, with an estimated global population of reasons people shop online statistics touted can. Need to know will keep growing and reach 22 % in conversion rate $ 23.9 billion policy and operational that! From them again customers should look forward to purchasing from your store – and what you engage... Of any business people don ’ t wait for someone else to this... For shipping and hassle-free returns: social proof to increase sales to a... For the nation ’ s Guide to Boosting sales with Google shopping shoppers... S load speed range of products on a global scale “ add to ”... Over businesses: what it is, is what it isn ’ t hit shoppers with unexpected fees the! 4.13 trillion in value … social media platforms small increase in your online store before they ’ e commerce statistics.

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