The Latest Digital Commerce Industry Statistics Explained
Global retail e-commerce sales are projected to reach $4.9 trillion by 2021.
The statistic stating that global retail e-commerce sales are projected to reach $4.9 trillion by 2021 highlights the significant growth and importance of the e-commerce industry worldwide. This projection indicates a substantial increase in online consumer spending compared to previous years, driven by factors such as the widespread adoption of digital technologies, internet accessibility, and shifting consumer preferences towards online shopping. The rapid expansion of e-commerce presents both opportunities and challenges for businesses seeking to capitalize on the growing market, emphasizing the need for robust digital strategies, seamless customer experiences, and effective data analytics to stay competitive in the evolving retail landscape.
By 2022, brick-and-mortar retail is expected to account for 82.5% of total global retail sales.
The statistic “By 2022, brick-and-mortar retail is expected to account for 82.5% of total global retail sales” indicates that traditional physical stores are projected to continue dominating the retail landscape in the near future. Despite the rise of e-commerce and online shopping platforms, the majority of retail transactions are still anticipated to occur in physical storefronts. This suggests that consumers still value the in-person shopping experience, including the ability to see and touch products before making a purchase. However, it is important to note that this statistic may vary across different regions and industries, as the shift towards online shopping continues to reshape the retail industry.
63% of shopping occasions begin online.
The statistic “63% of shopping occasions begin online” indicates that a significant majority of consumers start their shopping process by researching or browsing products and services on the internet. This trend suggests that online platforms play a crucial role in influencing consumer behavior and purchasing decisions. With the convenience and accessibility of online shopping channels, it is not surprising that a large portion of consumers prefer to start their shopping journey online, highlighting the importance of having a strong online presence for businesses to attract and engage potential customers.
China is the largest e-commerce market in the world.
The statistic that China is the largest e-commerce market in the world indicates that China has the highest total value of online retail sales compared to any other country. This suggests that a significant portion of consumer transactions in China occur through online platforms, highlighting the widespread adoption of e-commerce in the country. Factors such as a large population, increasing internet penetration, a growing middle class with disposable income, and a well-developed logistics network contribute to China’s dominance in the e-commerce market globally. This statistic underscores the importance of the Chinese market for businesses looking to engage in e-commerce and signals opportunities for further growth and innovation in this sector within China.
Global e-commerce penetration is expected to hit 22% by 2023.
This statistic indicates the projected percentage of global e-commerce sales compared to total retail sales by the year 2023. A penetration rate of 22% suggests that e-commerce is expected to account for a significant portion of overall retail activity worldwide by 2023. This growth reflects the increasing trend towards online shopping due to factors such as convenience, access to a wider range of products, and the impact of digital technologies on consumer behavior. The projection of a 22% penetration rate highlights the continued expansion and importance of e-commerce in shaping the future of retail industries on a global scale.
The number of digital buyers worldwide is expected to reach 2.14 billion people by 2021.
The statistic indicates that the global number of individuals engaging in digital purchases is projected to grow significantly, reaching a substantial 2.14 billion by the year 2021. This growth highlights the increasing trend of online shopping and e-commerce activities worldwide. Factors such as technological advancements, internet penetration, and changing consumer behaviors are likely contributing to this rise in digital buyers. As more people embrace digital platforms for their shopping needs, businesses and marketers will need to adapt their strategies to cater to this expanding online consumer base.
E-commerce retail trade sales in Canada hit C$1.85 billion in December 2020.
The statistic ‘E-commerce retail trade sales in Canada hit C$1.85 billion in December 2020’ indicates the total value of online retail transactions conducted in Canada during that specific month. This suggests a significant increase in consumer spending online, likely driven by factors such as the ongoing COVID-19 pandemic, which has led to a surge in e-commerce activity as consumers have shifted towards online shopping due to restrictions on physical retail stores. The figure highlights the growing importance of e-commerce as a key driver of retail sales in Canada, reflecting changing consumer behavior and preferences towards digital platforms for purchasing goods and services.
Millennials now make 60% of their purchases online.
The statistic that Millennials now make 60% of their purchases online indicates that individuals born between the early 1980s and mid-1990s are increasingly using the internet as their preferred platform for shopping. This shift towards online purchasing highlights the tech-savvy nature of Millennials, who value convenience, efficiency, and a seamless shopping experience. Factors such as the rise of e-commerce platforms, mobile shopping apps, and targeted digital marketing strategies have likely contributed to this trend. The statistic suggests that businesses targeting Millennials should prioritize their online presence and ensure that their digital shopping channels are user-friendly and engaging to cater to the preferences and behaviors of this generation.
Mobile e-commerce sales account for 54% of total e-commerce sales.
This statistic indicates that out of all e-commerce sales, 54% are coming from mobile devices. This suggests that a significant portion of online shopping activity is happening through smartphones and tablets, highlighting the importance of mobile optimization for e-commerce businesses. The fact that more than half of e-commerce sales are driven by mobile further underscores the increasing trend of consumers turning to their mobile devices for making online purchases. This statistic emphasizes the need for businesses to prioritize mobile-friendly websites and apps in order to effectively capture this growing segment of the market.
65% of consumers compare prices on their smartphones before shopping in-store.
This statistic indicates that a significant majority of consumers, 65%, utilize their smartphones to compare prices before making purchases in physical stores. This behavior suggests that consumers are increasingly leveraging technology to make more informed purchasing decisions by researching and comparing prices beforehand. The rise in mobile shopping tools allows consumers to easily access and compare prices across different retailers, ultimately influencing their in-store shopping decisions. This statistic highlights a shift in consumer behavior towards a more digitally savvy and price-conscious approach to shopping.
E-commerce traffic worldwide was 22 billion monthly visits as of June 2020.
The statistic indicates that the total amount of monthly visits to e-commerce platforms worldwide reached 22 billion in June 2020. This metric reflects the substantial extent to which individuals are engaging with online shopping channels globally. E-commerce traffic plays a critical role in the digital economy, representing the sheer volume of consumers browsing, purchasing, and interacting with online retailers. The significant number of visits underscores the increasing reliance on e-commerce as a preferred method of shopping for consumers worldwide, emphasizing the importance of a strong online presence for businesses to cater to the growing demand for digital shopping experiences.
Cross-border e-commerce is projected to reach $627 billion by 2022.
The statistic ‘Cross-border e-commerce is projected to reach $627 billion by 2022’ indicates that the total value of online retail transactions across borders is expected to grow significantly by the year 2022. This projection suggests a strong global trend towards increased international online shopping, reflecting the growing popularity and accessibility of e-commerce platforms worldwide. The substantial projected figure of $627 billion underscores the scale of cross-border e-commerce activity and highlights the expanding opportunities for businesses and consumers to engage in online trade on a global scale.
85% of consumers conduct online research before making a purchase online.
The statistic ‘85% of consumers conduct online research before making a purchase online’ indicates that a vast majority of consumers engage in information gathering activities on the internet prior to buying a product or service online. This emphasizes the importance of online presence and digital marketing strategies for businesses aiming to attract customers and drive sales. It suggests that consumers are becoming increasingly diligent and informed in their purchasing decisions, relying on online sources to compare products, read reviews, and gather relevant information before making a purchase. Understanding and leveraging this trend can help businesses tailor their marketing efforts and improve their online visibility to cater to the needs and preferences of modern consumers.
The global B2B e-commerce market was worth $12.2 trillion in 2019.
The statistic stating that the global Business-to-Business (B2B) e-commerce market was worth $12.2 trillion in 2019 represents the total value of goods and services traded between businesses through online platforms during that year. This figure highlights the substantial growth and importance of digital transactions in the B2B sector, with companies increasingly turning to e-commerce solutions to conduct business activities on a global scale. The significant monetary value reflects the efficiency, convenience, and cost-effectiveness that B2B e-commerce offers to businesses, driving the shift towards digital channels for procurement, sales, and other commercial transactions in the global marketplace.
Clothing is the most popular online shopping category worldwide.
The statistic that “Clothing is the most popular online shopping category worldwide” indicates that among a range of product categories available for purchase online, clothing emerges as the most preferred choice among global consumers. This implies that a significant portion of online shoppers prioritize purchasing clothing items over other products such as electronics, home goods, or beauty products when engaging in e-commerce activities. The popularity of clothing in online shopping may be driven by factors such as the convenience of browsing and purchasing fashion items online, access to a wide variety of clothing options, and potentially attractive pricing strategies employed by online retailers. This statistic sheds light on the consumer preferences within the e-commerce landscape and highlights the importance of the clothing sector for online retailers seeking to attract and retain customers.
34% of online retail transactions worldwide were made via mobile devices.
The statistic “34% of online retail transactions worldwide were made via mobile devices” indicates that approximately one-third of all online purchases across the globe are conducted through mobile devices such as smartphones and tablets. This data suggests a significant shift in consumer behavior towards mobile shopping, highlighting the increasing reliance on mobile devices for e-commerce transactions. This trend underscores the importance for retail businesses to optimize their websites and payment platforms for mobile users in order to capitalize on the growing mobile commerce market and enhance the overall shopping experience for consumers.
45% of US teens prefer shopping online.
The statistic “45% of US teens prefer shopping online” indicates that nearly half of teenagers in the United States show a preference for online shopping over traditional brick-and-mortar stores. This finding suggests a significant shift in consumer behavior among the youth demographic, reflecting a growing trend towards e-commerce platforms and digital shopping experiences. Factors influencing this preference could include convenience, a wider selection of products, competitive pricing, and the availability of online reviews and recommendations. Understanding and adapting to this preference is crucial for retailers and marketers to effectively engage with this segment of the population and capitalize on the opportunities presented by the evolving retail landscape.
67% of millennials prefer to shop online rather than in-store.
The statistic indicates that a large majority, specifically 67%, of individuals belonging to the millennial generation show a preference for online shopping over traditional in-store shopping experiences. This trend suggests that millennials tend to favor the convenience, accessibility, and variety of products available through online platforms compared to brick-and-mortar stores. Factors such as the ease of comparing prices, the ability to shop at any time, and the option for home delivery likely contribute to this preference. The statistic highlights the shift towards digital channels in the retail industry and underscores the importance of providing a seamless online shopping experience to attract and retain millennial consumers.
The average value of online shopping orders from smartphones was $79.33 in 2019.
The statistic indicates that in 2019, the average value of online shopping orders made from smartphones was $79.33. This means that when individuals made purchases using their smartphones, the typical amount spent per order was $79.33. This statistic provides insight into consumer behavior and spending patterns in the realm of mobile online shopping. It suggests that smartphones are a prevalent platform for making purchases, and that individuals are comfortable spending around $79.33 per order on average.
Conclusion
Based on the trends and data presented in the digital commerce industry statistics, it is evident that the sector is experiencing significant growth and transformation. Businesses and consumers are increasingly relying on digital platforms for their shopping and business needs. As technology continues to evolve and shape the way commerce is conducted, staying informed and adapting to these changes will be essential for companies looking to succeed in this dynamic landscape.
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.thinkwithgoogle.com
5. – https://www.www150.statcan.gc.ca
6. – https://www.www.bigcommerce.com
7. – https://www.www.adweek.com
8. – https://www.www.shopify.com
