The Latest B2C Ecommerce Industry Statistics Explained
Approximately 2.14 billion people worldwide are expected to buy goods and services online in 2021.
This statistic suggests that a significant portion of the global population is engaging in online shopping activities in 2021, with an estimated 2.14 billion individuals worldwide expected to make purchases over the internet. This trend highlights the widespread adoption of e-commerce as a convenient and accessible platform for consumers to buy goods and services. The increasing availability of online shopping options, coupled with factors such as technological advancements, changing consumer preferences, and the impacts of the COVID-19 pandemic on retail behavior, have contributed to the growing popularity of online shopping on a global scale. As a result, businesses and retailers are recognizing the importance of enhancing their online presence and digital marketing strategies to cater to this expanding online consumer base.
The global B2C ecommerce market was valued at 3.35 trillion U.S. dollars in 2019.
This statistic indicates that the business-to-consumer (B2C) ecommerce market worldwide had a total value of 3.35 trillion U.S. dollars in the year 2019. This figure reflects the cumulative value of online retail transactions between businesses and individual consumers across the globe during that year. The significant size of the global B2C ecommerce market highlights the increasing trend of consumers shopping online for goods and services, as well as the growing importance of digital platforms for businesses to reach customers and facilitate transactions. This statistic underscores the substantial economic impact and potential opportunities presented by the burgeoning ecommerce sector on a global scale.
China is the largest B2C ecommerce market in the world, followed by the United States.
The statistic indicates that China holds the top position as the largest business-to-consumer (B2C) ecommerce market globally, with the United States following closely behind. This suggests that China has a significant online retail presence where consumers are increasingly engaging in online shopping activities. Factors contributing to China’s dominance in the B2C ecommerce market may include the country’s large population, growing internet connectivity, and robust infrastructure for online transactions. The United States, known for its established ecommerce industry and high internet penetration rates, ranks second in this context. This statistic highlights the evolving nature of consumer behavior towards online shopping and the importance of ecommerce markets in these two major economies.
B2C ecommerce sales reached over $3.53 trillion worldwide in 2019.
The statistic “B2C ecommerce sales reached over $3.53 trillion worldwide in 2019” indicates the total value of business-to-consumer (B2C) online transactions conducted across various industries and regions during the year. This figure represents the significant growth and adoption of ecommerce as a preferred shopping method by consumers globally. The rise in B2C ecommerce sales highlights the increasing trend of consumers buying products and services online instead of through traditional brick-and-mortar stores, reflecting the convenience, accessibility, and wide range of choices available in the digital marketplace. This statistic underscores the transformative impact of technology and digital platforms on the way businesses engage with customers and conduct commerce on a global scale.
By 2023, the United States B2C ecommerce market is projected to be $749.2 billion.
The statistic states that the United States Business-to-Consumer (B2C) ecommerce market is projected to reach a total value of $749.2 billion by the year 2023. This figure represents the estimated total sales value of goods and services purchased online by individual consumers in the US. The projection indicates a significant growth in the ecommerce sector, reflecting the increasing trend of consumers shifting towards online shopping platforms. Factors such as convenience, variety of products, and competitive pricing are likely driving this growth in the B2C ecommerce market. This statistic serves as a forecast for the anticipated economic size and impact of online retail transactions in the US within the specified timeframe.
In 2020, 18% of retail sales were made online.
The statistic stating that 18% of retail sales were made online in 2020 implies that nearly one-fifth of all retail transactions occurred through digital platforms rather than traditional brick-and-mortar stores. This highlights a significant shift in consumer behavior towards e-commerce, likely driven by factors such as the convenience of online shopping, increased digital connectivity, and the impact of the COVID-19 pandemic on in-person retail operations. The data suggests that online retail has become a prominent and growing segment of the overall retail industry, prompting businesses to adapt their strategies to cater to the evolving preferences of consumers and capitalize on the opportunities presented by the digital marketplace.
Electronics and media are the biggest-selling B2C ecommerce category.
The statistic “Electronics and media are the biggest-selling B2C ecommerce category” indicates that among all the product categories available for online purchase by consumers, electronic devices such as smartphones, laptops, and media items like books, music, and movies have the highest sales volume. This suggests that consumers are inclined to make online purchases in these categories more than any other product category, showcasing a strong demand for electronic and media products in the B2C ecommerce market. This information is valuable for businesses operating in the ecommerce sector, as it highlights the popularity and potential profitability of selling electronics and media products online.
Approximately 63% of shopping occasions begin online.
The statistic that approximately 63% of shopping occasions begin online indicates that a vast majority of consumers initiate their shopping process by browsing or searching for products online. This suggests the increasing reliance on e-commerce platforms and digital channels for consumers to discover and explore products before making purchasing decisions. With the convenience and accessibility of online shopping, many individuals prefer to start their shopping journey online to compare prices, read reviews, and explore a wider range of options before making a final purchase either online or in-store. This statistic underscores the significance of digital marketing strategies, online presence, and e-commerce capabilities for businesses looking to reach and engage with consumers at the early stages of their shopping process.
Approximately 59% of Millennials use their smartphones for shopping.
The statistic stating that approximately 59% of Millennials use their smartphones for shopping implies that a significant majority of individuals within the Millennial generation rely on their mobile devices for making purchasing decisions and transactions. This trend reflects the increasing role of smartphones in shaping consumer behavior and the way people engage with businesses. The statistic suggests that Millennials value the convenience and accessibility offered by mobile shopping, highlighting the importance for retailers to adapt to the digital landscape and optimize their online platforms for a seamless shopping experience on smartphones. Additionally, this data may have implications for marketing strategies targeting Millennials, as businesses may need to prioritize mobile-friendly approaches to effectively engage with this tech-savvy demographic.
Mobile sales are projected to make up 73% of total ecommerce sales by 2021.
The statistic “Mobile sales are projected to make up 73% of total ecommerce sales by 2021” indicates that a significant portion of online sales transactions are expected to occur through mobile devices such as smartphones and tablets. This projected trend suggests that consumers are increasingly using mobile devices for their online shopping needs, highlighting the importance of mobile-friendly websites and apps for businesses operating in the ecommerce sector. By 2021, mobile sales are anticipated to represent the majority of ecommerce sales, emphasizing the importance for businesses to adapt their strategies to cater to mobile users and optimize the shopping experience on mobile platforms.
Almost 75% of online shopping carts are abandoned worldwide.
The statistic “Almost 75% of online shopping carts are abandoned worldwide” refers to the phenomenon where a significant majority of users add items to their virtual shopping carts on e-commerce websites but do not complete the purchase transaction. This high abandonment rate highlights a common challenge faced by online retailers in converting browsing customers into paying customers. Factors contributing to this behavior could include unexpected costs at checkout, complicated payment processes, lack of trust in the website or company, or simply changing their minds. Understanding and addressing the reasons behind cart abandonment is crucial for businesses to optimize their online sales strategies and improve conversion rates.
The average ecommerce spend per customer over the course of a year is $1,800 in the USA and $1,600 in the UK.
The statistic indicates that on average, customers in the USA spend more on ecommerce purchases over the span of a year compared to customers in the UK. Specifically, the average amount spent per customer in the USA is $1,800, while it is $1,600 for customers in the UK. This suggests that there may be differences in consumer behavior, purchasing power, or preferences between these two countries when it comes to online shopping. Businesses operating in the ecommerce sector could leverage this information to tailor their marketing strategies and offerings to better cater to the respective customer bases in the USA and the UK.
67% of e-shoppers have engaged in the “click and collect” method.
The statistic ‘67% of e-shoppers have engaged in the “click and collect” method’ indicates that a substantial majority of online shoppers have utilized the option to purchase items online and pick them up at a physical location. This method allows customers to conveniently shop from the comfort of their homes and then retrieve their purchases at a designated pickup point, typically a nearby store or retail outlet. The high percentage suggests that click and collect is a popular and widely accepted shopping strategy among e-commerce consumers, highlighting the importance of offering this option for retailers to cater to the preferences and needs of their customers.
85% of consumers conduct online research before making a purchase online.
The statistic that 85% of consumers conduct online research before making a purchase online indicates a strong trend towards consumer reliance on digital resources to inform their buying decisions. This suggests that the majority of consumers place significance on gathering information, comparing products or services, reading reviews, and seeking out recommendations online before finalizing a purchase online. This behavior underscores the importance of a strong online presence for businesses, as it highlights the critical role that online content and information play in influencing consumer purchasing behavior. Furthermore, it underscores the need for businesses to invest in digital marketing strategies to effectively reach and engage with these informed consumers.
It’s estimated that there will be 2.14 billion global digital buyers in 2021.
This statistic indicates that by the end of 2021, there are anticipated to be approximately 2.14 billion individuals worldwide who engage in online purchasing, making them digital buyers. This figure suggests a significant and growing trend towards e-commerce and online shopping activities on a global scale, reflecting the increasing integration of digital technologies into everyday consumer behaviors. As more people adopt digital platforms for their shopping needs, businesses and marketers are likely to continue focusing on digital strategies to reach and engage with this large and expanding customer base.
Men spend 68% more online than women.
The statistic that men spend 68% more online than women means that, on average, men’s online spending is 68% higher than women’s online spending. This indicates that there is a significant disparity in online shopping habits between men and women, with men tending to spend more money on online purchases compared to women. The 68% difference suggests that men are more likely to make larger purchases or buy more items when shopping online than women. This information can be useful for businesses targeting specific demographics in their online marketing strategies and product offerings.
The global average value of a shopping order via smartphone is lower than one from tablets or desktops.
This statistic suggests that, on a global scale, the average value of a shopping order made through a smartphone is lower compared to orders made using tablets or desktops. This trend could be attributed to various factors such as the screen size limitations of smartphones leading to reduced visibility or difficulties in navigating through product offerings, which may affect purchasing behavior. Additionally, the convenience and ease of use provided by larger devices like tablets and desktops may encourage users to spend more when shopping online. Understanding these distinctions in average order values across different devices can be valuable for retailers in optimizing their e-commerce strategies and user experience design to maximize sales and revenue.
Over half of all online purchases are now made through a tablet or smartphone.
The statistic that over half of all online purchases are now made through a tablet or smartphone indicates a significant shift in consumer behavior towards mobile commerce. This trend suggests that an increasing number of consumers are opting to shop and make purchases using their mobile devices rather than traditional desktop computers. The prevalence of mobile shopping highlights the importance for businesses to prioritize mobile optimization of their websites and payment processes to cater to the changing preferences of consumers. This trend also underscores the importance of a seamless mobile shopping experience for businesses looking to capitalize on the growing mobile commerce market.
Nearly 42% of the global population bought something online in 2020.
The statistic that nearly 42% of the global population bought something online in 2020 indicates a significant shift towards online shopping as a preferred method of purchasing goods for consumers around the world. This increase in online shopping can be attributed to various factors such as the convenience, wider variety of products, and the growing accessibility of e-commerce platforms. The global reach of online shopping has made it easier for people to make purchases from the comfort of their homes, allowing for greater convenience and efficiency in obtaining goods. This statistic underscores the increasing reliance on online retail as a pivotal aspect of consumer behavior and highlights the importance of e-commerce in modern-day retail markets.
References
0. – https://www.www.statista.com
1. – https://www.www.oberlo.com
2. – https://www.www.digitalcommerce360.com
3. – https://www.www.businessinsider.com
4. – https://www.www.sailthru.com
5. – https://www.www.thinkwithgoogle.com
6. – https://www.www.emarketer.com
7. – https://www.www.bigcommerce.com
8. – https://www.baymard.com
9. – https://www.www.kibocommerce.com
