The Latest Ecommerce Industry Statistics Explained
Due to pandemic-driven behaviors, global ecommerce sales are expected to hit $4.89 trillion in 2021, growing 19.8% YoY.
The statistic indicates that the ongoing pandemic has significantly influenced consumer behaviors, leading to a surge in global ecommerce sales that are projected to reach $4.89 trillion by the end of 2021. This represents a substantial 19.8% year-over-year growth rate, highlighting the accelerated adoption of online shopping due to factors such as lockdowns, social distancing measures, and shifting preferences towards contactless shopping experiences. The remarkable growth in ecommerce sales underscores the resilience and adaptability of businesses in leveraging digital platforms to meet the evolving needs and preferences of consumers during these challenging times.
By 2022, e-retail revenues are projected to grow to 6.54 trillion U.S. dollars.
The statistic indicates that by the year 2022, the total revenue generated from electronic retail (e-retail) globally is expected to reach 6.54 trillion U.S. dollars. This projection reflects a significant increase in the amount of money spent on online shopping, highlighting the ongoing trend of consumers increasingly turning to digital platforms to make their purchases. Factors contributing to this growth may include the convenience of online shopping, the rise of e-commerce platforms, and the widespread availability of internet access across the globe. This statistic underscores the continued expansion and importance of the e-retail sector in the global economy, signaling opportunities for businesses and industries to leverage this growing market for their products and services.
As of Q1 2021, ecommerce purchases made via smartphones accounted for 54.8% of all online sales.
The statistic indicates that in the first quarter of 2021, 54.8% of all online sales in ecommerce were made through smartphones. This highlights the significant role that mobile devices, particularly smartphones, play in driving online shopping activities. The increasing prevalence of smartphones and their ease of use for browsing and purchasing goods and services have made them a popular choice for consumers when engaging in ecommerce activities. This data underscores the importance for businesses to optimize their online platforms for mobile devices to cater to the preferences and behaviors of consumers who are increasingly turning to smartphones for their online shopping needs.
The most popular online shopping categories worldwide as of 2019 are Fashion (61%), Travel (59%) and IT (47%).
The statistic indicates the popularity of different online shopping categories worldwide in 2019 based on the percentage of consumers engaging in each category. Fashion emerges as the most popular category with 61% of online shoppers participating in fashion-related purchases, followed closely by Travel at 59% and IT at 47%. These percentages suggest a significant consumer interest and demand in these particular sectors, highlighting the importance of e-commerce in providing diverse choices and convenience for shoppers globally. The data also reveals potential insights for businesses and marketers to focus on these popular categories to target a larger online consumer base and drive sales.
Nearly half, or 49%, of American consumers say they made their last online purchase on Amazon.
The statistic that nearly half, or 49%, of American consumers say they made their last online purchase on Amazon indicates a high level of market dominance and customer preference for the online retail giant. It suggests that Amazon holds a significant share of the e-commerce market in the United States, with a large number of consumers choosing to make purchases through the platform. This statistic highlights the strong brand presence, trust, convenience, and product offerings that Amazon provides, leading a substantial portion of American consumers to choose Amazon as their preferred online shopping destination. Furthermore, it underscores the competitive advantage Amazon has in the e-commerce space, positioning it as a key player in shaping consumer behavior and driving online retail trends in the U.S.
In 2021, more than 2.14 billion people worldwide are expected to buy goods and services online, up from 1.66 billion global digital buyers in 2016.
The statistic indicates a significant increase in the number of people buying goods and services online globally between 2016 and 2021. The rise from 1.66 billion digital buyers in 2016 to over 2.14 billion in 2021 implies a substantial growth of approximately 28% over this five-year period. These figures underscore the continued and rapid expansion of e-commerce as a preferred shopping method worldwide, driven by factors such as technological advancements, increased internet access, changing consumer behaviors, and the impact of the COVID-19 pandemic, which accelerated the shift towards online shopping. The trend towards more individuals engaging in online shopping highlights the importance for businesses to adapt their strategies to meet the evolving needs and preferences of consumers in the digital marketplace.
In 2021, ecommerce is expected to account for 17.5% of global retail sales.
The statistic states that in 2021, ecommerce is projected to represent 17.5% of all retail sales worldwide. This suggests a significant shift towards online shopping as a key component of global retail transactions. The increasing popularity and convenience of ecommerce platforms, coupled with factors such as the Covid-19 pandemic driving consumers to shift their purchasing habits online, likely contribute to this growing share. This statistic highlights the importance of incorporating online sales strategies for retailers and the increasing significance of ecommerce in the global retail landscape.
63% of shopping occasions begin online.
The statistic “63% of shopping occasions begin online” indicates that a significant majority of instances where consumers begin the process of shopping for a product or service, they do so by first conducting an online search or visiting an online retail website. This suggests that the internet plays a crucial role in the initial stages of the consumer’s shopping journey, influencing their decisions and preferences. With the increasing accessibility and convenience of online shopping platforms, it is not surprising that a majority of consumers now prefer to start their shopping process in the digital space before making any purchasing decisions.
In the U.S., ecommerce represents almost 10% of retail sales and that figure is expected to grow by nearly 15% each year.
The statistic indicates that ecommerce, or online shopping, accounts for approximately 10% of total retail sales in the United States. This suggests a significant market share for online retailers compared to traditional brick-and-mortar stores. Furthermore, the statistic highlights a rapidly growing trend in ecommerce, with an expected annual growth rate of nearly 15%. This projection underscores the increasing popularity and adoption of online shopping among consumers, indicating a shift towards digital retail platforms. The data signals a transformation in the retail landscape, with ecommerce playing an increasingly important role in the overall retail industry and projecting continued growth in the future.
Ecommerce businesses are growing nine times faster than traditional brick-and-mortar companies.
The statistic that ecommerce businesses are growing nine times faster than traditional brick-and-mortar companies indicates a significant trend in the business world where online retail is outpacing physical stores in terms of growth rate. This can be attributed to the growing popularity and convenience of online shopping, especially accelerated by the Covid-19 pandemic which prompted a shift towards digital platforms. Ecommerce businesses have lower overhead costs, wider reach, and can adapt more quickly to consumer trends, giving them a competitive edge over brick-and-mortar companies. As a result, many traditional retailers are now investing in their online presence to stay relevant and capitalize on the booming ecommerce market.
95% of all purchases are expected to be conducted via ecommerce by 2040.
The statistic that 95% of all purchases are expected to be conducted via ecommerce by 2040 suggests a significant shift in consumer behavior and preferences towards online shopping over traditional brick-and-mortar retail. This projection indicates the growing importance and dominance of ecommerce platforms in the retail landscape, driven by factors such as convenience, accessibility, and technological advancements. It also underscores the need for businesses to adapt and invest in their online presence to meet changing consumer demands and stay competitive in the evolving retail industry. Additionally, this statistic implies the continued growth of the ecommerce sector and the diminishing role of physical stores in the overall retail market as we approach the year 2040.
The global ecommerce market had sales reaching $3.535 billion in 2019.
The statistic “The global ecommerce market had sales reaching $3.535 billion in 2019” indicates the total value of goods and services sold through online platforms worldwide during the year 2019. This figure represents the cumulative sales revenue generated by ecommerce businesses across different industries and regions, highlighting the significant growth and popularity of online shopping. The data point serves as a key indicator of the increasing trend towards digital commerce and the evolving consumer preferences towards online retail channels. The substantial size of the global ecommerce market underscores its importance in the modern economy and the opportunities it presents for businesses to expand their reach and maximize sales potential in the digital space.
There will be 300 million online shoppers in the U.S. by 2023. That’s 91% of the country’s population.
The statistic provided states that by the year 2023, there will be an estimated 300 million online shoppers in the U.S., which is equivalent to 91% of the country’s population. This suggests a significant trend towards e-commerce and online shopping, showcasing the widespread adoption of digital platforms for purchasing goods and services. The high percentage of online shoppers highlights a shift in consumer behavior towards convenience, accessibility, and a preference for online shopping experiences. This data underscores the importance for businesses to have a strong online presence and cater to the evolving needs and preferences of consumers in the digital marketplace.
The top reason people shop online is that they can shop 24/7.
This statistic indicates that the primary motivation for individuals to shop online is the convenience of being able to do so at any time of the day or night. The availability of online shopping 24 hours a day, 7 days a week eliminates the constraints of traditional brick-and-mortar store hours, offering consumers the flexibility to make purchases whenever it is convenient for them. This statistic highlights the importance of accessibility and convenience in driving the increasing popularity of online shopping, as it allows consumers to shop on their own terms and schedules, ultimately improving their overall shopping experience.
85% of consumers conduct online research before making a purchase online.
This statistic indicates that a significant majority of consumers engage in online research prior to making a purchase over the internet. The high prevalence of 85% suggests that consumers consider online research a vital aspect of their decision-making process when buying products or services online. Such behavior highlights the shifting consumer landscape where the internet serves as a crucial tool for gathering information, comparing options, and ultimately making informed purchasing decisions. Businesses should take note of this trend and ensure they have a strong online presence to cater to the needs and expectations of these informed consumers.
Cart abandonment rate across all industries averages out to 69.57%.
The statistic that cart abandonment rate across all industries averages out to 69.57% refers to the percentage of online shopping carts that are filled with items by users but are ultimately left without completing the purchase. This high average indicates that a significant number of potential customers abandon their online shopping carts before finalizing their transaction. Cart abandonment can be influenced by various factors such as unexpected costs during the checkout process, complicated navigation, or lack of trust in the website. Understanding and addressing the reasons behind cart abandonment is crucial for businesses to optimize their online sales funnel and improve conversion rates.
In 2019, customers ordered more than 3.5 billion items worldwide through Amazon’s marketplace.
The statistic that customers ordered more than 3.5 billion items worldwide through Amazon’s marketplace in 2019 demonstrates the immense scale and global reach of the e-commerce platform. This figure underscores the popularity and widespread utilization of Amazon as a preferred shopping destination for consumers across the globe. The significant volume of orders also highlights the efficiency of Amazon’s logistics and fulfillment network in processing and delivering such a vast number of items to customers in a timely manner. This statistic reflects the continued growth and dominance of Amazon in the e-commerce market, showcasing the platform’s ability to meet the diverse needs and demands of a large and diverse customer base.
Customers check in-store prices online via mobile devices before making a purchase in 80% of cases.
The statistic suggests that the vast majority of customers engage in a behavior where they use their mobile devices to compare prices online before making a purchase in physical stores. This indicates a significant trend towards utilizing technology and online resources to inform and guide purchasing decisions. Customers are increasingly relying on mobile devices to access real-time price information, enabling them to make more informed and cost-effective buying choices. This behavior underscores the importance of offering competitive pricing for retailers and highlights the impact of online platforms on the traditional brick-and-mortar shopping experience. Overall, the statistic reflects a shift towards a more digital and informed consumer base in the retail industry.
Women spend on average 7% more than men online even though men in general make more individual purchases.
This statistic suggests that while men may make more individual purchases online, women tend to spend a higher amount per transaction, with an average of 7% more than men. This may indicate that women are more likely to buy higher-priced items or make larger purchases compared to men, despite making fewer overall transactions. There could be various reasons for this disparity, such as differences in shopping habits, preferences, or tendencies to make impulse purchases. Understanding these patterns can be valuable for businesses targeting different gender demographics in their online marketing and sales strategies.
Conclusion
In conclusion, the ecommerce industry continues to show significant growth and evolution, driven by technological advancements, changing consumer behaviors, and increasing globalization. By staying informed on the latest ecommerce statistics and trends, businesses can make informed decisions and remain competitive in this rapidly expanding market. Stay tuned for more updates and insights on the exciting world of ecommerce.
References
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