The Latest Online Shopping Industry Statistics Explained
In 2020, over 2 billion people worldwide purchased goods or services online.
The statistic “In 2020, over 2 billion people worldwide purchased goods or services online” highlights the significant and widespread adoption of e-commerce as a shopping platform. The large number of individuals engaging in online purchases reflects the convenience, accessibility, and variety offered by online shopping platforms. This statistic underscores the global reach and impact of online retail on consumer behavior, with millions of people opting for the convenience of shopping from the comfort of their homes and having products delivered to their doorstep. The increasing digitization of retail and evolving consumer preferences continue to drive the growth of e-commerce as a dominant force in the global economy.
The average value of global online shopping orders via mobile devices was $85.65 in the 4th quarter of 2021.
The statistic that the average value of global online shopping orders via mobile devices was $85.65 in the 4th quarter of 2021 suggests that consumers are increasingly turning to mobile platforms for their shopping needs. This average value represents the typical amount spent per order through mobile devices during this time period, indicating a significant portion of overall online shopping is conducted through mobile channels. This statistic is important for businesses and retailers as it highlights the growing trend of mobile commerce and the need to optimize websites and apps for mobile shopping experiences. Additionally, it underscores the potential for businesses to capitalize on this trend by targeting mobile users with tailored marketing strategies and mobile-friendly interfaces.
55% of consumers turn to Amazon first when looking for a product.
The statistic “55% of consumers turn to Amazon first when looking for a product” indicates that a significant majority of consumers prefer to start their product search on the Amazon platform. This statistic suggests that Amazon is a dominant player in the e-commerce market and is often the go-to destination for consumers seeking a wide range of products. The high percentage highlights the platform’s popularity and trust among consumers for finding and purchasing products online. This insight can be valuable for businesses and marketers looking to understand consumer behavior and adapt their strategies to reach and engage with potential customers effectively in an increasingly digital marketplace.
As of February 2021, 63% of users prefer buying online via mobile devices.
The statistic ‘As of February 2021, 63% of users prefer buying online via mobile devices’ indicates that a significant majority of consumers prefer using their mobile devices for online shopping. This suggests a growing trend in mobile commerce and highlights the importance of optimizing online shopping experiences for mobile users. The statistic also implies that businesses should prioritize mobile-friendly websites and applications to cater to the preferences of their target audience and capitalize on the increasing use of mobile devices for e-commerce.
The revenue in the e-commerce market is projected to reach US$2,723,991m in 2021.
The statistic indicates that the revenue generated in the e-commerce market is expected to reach US$2,723,991 million in the year 2021. This projection highlights the significant growth and expansion of the e-commerce sector, demonstrating a substantial increase in sales and transactions conducted online. Factors contributing to this upward trend may include the increasing adoption of online shopping, advancements in technology, and the convenience and accessibility of e-commerce platforms. This statistic serves as a key indicator of the evolving consumer behavior and the growing significance of e-commerce within the global economy.
eCommerce sales are projected to account for 18.1 percent of retail sales worldwide in 2021.
The statistic that eCommerce sales are projected to account for 18.1 percent of retail sales worldwide in 2021 indicates the significant and growing role that online retail is playing in the global economy. This percentage represents the portion of total retail sales – which includes both online and traditional brick-and-mortar stores – that are conducted through eCommerce platforms. The steady increase in eCommerce sales reflects shifting consumer preferences towards online shopping, especially accelerated by the COVID-19 pandemic. This trend underscores the importance for businesses to have a strong online presence and adapt to the digital marketplace to remain competitive and capitalize on the opportunities presented by the growth of eCommerce.
Amazon is the most popular online store in the United States, with net sales of $280.5 billion in 2019.
The statistic “Amazon is the most popular online store in the United States, with net sales of $280.5 billion in 2019” highlights the significant market position and financial performance of Amazon within the e-commerce industry. The fact that Amazon achieved $280.5 billion in net sales in 2019 indicates a substantial level of consumer trust and preference for the platform, solidifying its position as a dominant force in the online retail sector. This statistic underscores the scale of Amazon’s operations and its success in capturing a significant share of the market, showcasing the company’s ability to attract and retain customers through its diverse product offerings, efficient services, and strong brand presence.
It is expected that mobile ecommerce sales will account for 72.9% of ecommerce sales by 2021.
The statistic “It is expected that mobile ecommerce sales will account for 72.9% of ecommerce sales by 2021” indicates the projected percentage of online retail transactions that will be conducted through mobile devices such as smartphones and tablets by the year 2021. This forecast suggests a significant shift in consumer behavior towards using mobile devices as the preferred platform for making online purchases, highlighting the increasing importance of mobile optimization for businesses operating in the ecommerce sector. This trend could be attributed to factors such as the widespread adoption of mobile technology, improvements in mobile user experience, and the convenience and accessibility of shopping on mobile devices. It underscores the necessity for businesses to adapt their online strategies to cater to the growing mobile consumer base and optimize their websites and platforms for mobile commerce.
Online sales are expected to reach $645 billion in the United States by 2022.
The statistic stating that online sales are projected to reach $645 billion in the United States by 2022 indicates the anticipated total value of goods and services that will be sold through online platforms within the country during that specific year. This figure reflects the continuing growth and significance of e-commerce in the retail sector, driven by factors such as increasing internet penetration, expanding digital infrastructure, changing consumer preferences, and the convenience of online shopping. The forecasted amount underscores the economic impact and potential of online sales as a key driving force in the retail industry, highlighting the shift towards digital commerce and the importance for businesses to adapt their strategies to meet the evolving needs and expectations of the online consumer base.
88% of online shoppers consider detailed product descriptions to be extremely important.
The statistic indicates that a large majority, specifically 88%, of individuals who shop online place a high level of importance on having detailed product descriptions. This suggests that online shoppers value having comprehensive information about the products they are considering purchasing, possibly to aid in making informed decisions and feeling confident about their choices. The emphasis on detailed product descriptions could be attributed to consumers wanting to fully understand the features, specifications, and benefits of the items they are interested in before making a purchase. This insight underscores the significance of retailers and ecommerce businesses providing thorough and accurate product descriptions to meet the expectations and needs of online shoppers, ultimately influencing their buying behavior and overall satisfaction with their online shopping experience.
The average number of items per online order was 3 in the fourth quarter of 2021.
The statistic “The average number of items per online order was 3 in the fourth quarter of 2021” indicates that, on average, each online order placed during that time period contained 3 items. This metric provides insight into consumer behavior and purchasing patterns, demonstrating that customers tend to purchase multiple items together in each transaction. By understanding the average number of items bought per order, businesses can optimize their inventory management, pricing strategies, and marketing efforts to cater to the preferences and needs of customers who tend to make multi-item purchases online.
62% of online buyers shop at least once per month.
The statistic ‘62% of online buyers shop at least once per month’ indicates that a substantial majority of individuals who make purchases online engage in shopping activities on a regular basis. This suggests a consistent level of consumer behavior among online buyers, with a significant portion of them returning to online stores at least once a month. This statistic highlights the frequency and ongoing nature of online shopping habits, pointing to a strong interest and participation in e-commerce activities among a majority of online buyers.
About 50% of cart abandonment happens because of extra costs (shipping, tax, fees).
This statistic indicates that approximately half of instances where customers abandon their online shopping carts do so as a result of encountering additional costs like shipping fees, taxes, or other fees during the checkout process. This suggests that unexpected or high extra costs are a significant factor influencing consumers’ decision-making and may lead them to ultimately abandon their purchase. Retailers should be cognizant of the impact of these extra costs on customers’ purchasing behavior and consider strategies to mitigate them, such as offering transparent pricing upfront, providing promotions to offset additional fees, or offering free or reduced shipping options. By addressing this common reason for cart abandonment, businesses can potentially improve their conversion rates and customer satisfaction levels.
Conclusion
The online shopping industry statistics reveal a thriving and ever-evolving sector with continuous growth in revenue and customer engagement. As more consumers shift towards digital platforms for their purchasing needs, businesses must adapt to the changing landscape to stay competitive and meet the demands of the modern market. Embracing technological advancements and data-driven strategies will be crucial for success in this dynamic industry.
References
0. – https://www.www.statista.com
1. – https://www.www.outerboxdesign.com
2. – https://www.www.practicalecommerce.com
3. – https://www.www.numerator.com
4. – https://www.www.pewresearch.org
5. – https://www.baymard.com
6. – https://www.www.cnbc.com
