The retail sector has been irrevocably altered since the global COVID-19 outbreak. Quarantine and economic instability have hastened specific trends, like the rise of online shopping as a distribution channel, and these tendencies will continue. The internet shopping industry is rapidly expanding, so it’s essential to understand the trends shaping it.
Every day, thousands more websites are added to the staggering 12–24 million eCommerce sites worldwide. Don’t be alarmed if the figures suggest a crowded marketplace. There’s a ton of space to expand, as fewer than 1 million of these sites make over $1,000 in annual revenue.
An online business is a great way to generate money, and it’s becoming more accessible for everyone to create their website. Let’s look at some key eCommerce statistics now that you have a sense of the sector’s scope (and the number of people generating money inside it).
Five Important Facts About Online Sales to Keep in Mind From 2022 To 2025
Listed below are the five most telling statistics about the present condition of the online shopping industry:
- By 2025, it is expected that worldwide revenues from shopping online will have topped $7 trillion.
- Approximately 70.8% of shoppers who start with a cart leave without making a purchase.
- By 2024, experts predict that the global market for mobile eCommerce will be worth $620.97 billion.
- In the United States, social eCommerce sales are projected to reach $45.74 billion by the end of 2022.
- As much as 89% of online retailers spend money on customer segmentation and personalization.
- If you want to get a feel for the future of the eCommerce sector, check out our article on the most cutting-edge trends to watch out for in 2022.
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General eCommerce Statistics
The expansion of online shopping throughout the world is documented here. As a result, they apply to all online stores, regardless of location.
Here are the most important online shopping data points for making informed business choices.
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By 2022, it is projected that 266.7 million people in the United States will have made purchases from online retailers (Oberlo)
- There were an estimated 2.14 billion digital shoppers in the world in 2021. The global population has surpassed 7.9 billion as of July 2022. That’s equivalent to at least 27% of the world’s population getting their necessities from internet retailers.
- Only in the United States will online retail sales expand by 16.1% in 2022, reaching $1 trillion for the first time. By 2024, this expansion is projected to reach $6 trillion.
- This pattern is also evident in Europe, where the eCommerce industry is expanding at a compound annual growth rate of 13.86%. An estimated 564.4 million people will be using eCommerce in Europe by 2025.
- Over the next few years, the growth of the worldwide eCommerce sector makes this a great moment to launch a new venture in this space.
By 2025, it is expected that global revenues from shopping online will have topped $7 trillion (Insider Intelligence)
- After the epidemic severely limited people’s ability to get about, online shopping quickly became one of the most popular. The fact that 63% of all shopping trips begin with an internet search also lends credence to this argument.
- As a result, e-commerce sites may expand into new markets and increase their profits. Through targeted advertising and creating an enjoyable shopping environment, you may increase the likelihood that first-time online customers will make repeat purchases.
In 2022, $988.4 billion, or 32%, of worldwide sales will come from the electronics industry (DataReportal)
- The consumer electronics sector is the largest B2C eCommerce market in the world, bringing in more than $988.4 billion annually. This sum is around $84 billion higher than the apparel industry’s 2021 total, which ranked first.
- At nearly $381.5 billion, the toy and personal care products industries are also booming. Meanwhile, the food and drink sectors are booming, with sales up 38% and 35%, respectively.
- The fashion business may be in second place this year, but with a revenue of $904.5 billion, its future is bright.
Nearly 45 percent of all eCommerce purchases worldwide were made using digital and mobile wallets in 2014 (Drip)
- Credit cards dominated as the preferred online payment mode in 2021, making up 31% of all eCommerce transactions worldwide. Market share for digital and mobile wallets was 29%, making them the global runner-up. This is, however, expected to alter.
- In recent years, digital payment methods have gained considerable traction. By 2024, it is expected that digital payment methods will account for 51.7% of all transactions.
- To capitalize on this trend, eCommerce sites should accept digital wallets like PayPal and Apple Pay. If you simplify for consumers to complete their transactions, they’ll be more likely to do business with you.
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China is the biggest market in online shopping (Business.com)
- There is a strong correlation between China’s travel limitations and the country’s dominance in the online luxury goods sector. In 2021, 842 million Chinese individuals made purchases from an online store.
- The country plays a pivotal role in international eCommerce retail sales. According to a recent study, 67 percent of Chinese consumers who buy abroad online plan to increase their purchases made abroad in 2022.
- Don’t discount the purchasing power of 18.47% of the world’s population, which resides in China.
- To sell online in China, you must create a bilingual eCommerce shop with a selection of appropriate items for the Chinese market. To find out what tools we suggest, have a read through our post on the top WordPress translation plugins.
- Raising awareness of your eCommerce business in China may be accomplished by advertising it on Weibo, Douyin, and WeChat, three of the nation’s most widely used social media sites.
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Behavior Analysis Of eCommerce Shoppers
Any plan for online retail must have an awareness of customer habits. It enhances the user experience and guarantees client happiness, which leads to higher conversion rates.
You may sway customer spending by catering to their wants and understanding what motivates them to buy. It will be less difficult to win over first-time consumers than repeat clients.
Below are the five most essential eCommerce statistics on customers’ online purchasing habits and how to interpret them.
The average cart abandonment rate across all industries is 69.82% (Baymard Institute)
- Interestingly, mobile users have a higher basket abandonment rate of 85.65%. This should serve as a warning sign that current e-commerce platforms need to be redesigned with mobile consumers in mind.
- Online shoppers are more likely to abandon their purchases due to high shipping charges, the need to create an account, and a lengthy checkout procedure, all of which have been cited by the Baymard Institute.
- Over half (48%) of 4,384 US-based digital shoppers abandoned their baskets due to unexpected extra expenditures, including shipping and taxes.
- Customers who don’t have to pay for delivery are less likely to abandon their mobile or desktop shopping carts online. Let customers buy from you without signing up for an account if your online store requires it.
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A 35.26 percent increase in sales is possible with optimized checkout processes (Baymard Institute)
- According to Baymard, 17% of shoppers have given up on purchases because of lengthy or confusing checkout procedures. With an estimated $738 billion in eCommerce sales between Europe and the United States, optimizing the checkout process can recoup as much as $260 billion in revenue.
- A great strategy to reduce cart abandonment is fine-tuning your checkout process and page layout. Best practices include eliminating forced signups, allowing various digital payment options, and implementing exit intent popups.
Nearly all buyers (90%+) consult internet reviews before purchasing (Oberlo)
- About half, or 54.7%, of review readers, always read at least four reviews before making a purchase. Almost half of all internet users write and publish reviews monthly.
- Brand recognition may be improved by responding to customer reviews since 97% of consumers who read online reviews also search for comments from online retailers. If you don’t want to leave a terrible impression, make an additional effort to respond to unfavorable evaluations within a week.
- Not surprisingly, 59% of internet customers look to Google for feedback before making a purchase. You should put your business on Google My Business if you haven’t already because that’s where most internet users go to find feedback on local establishments.
When making an online purchase, ecological packaging is an essential factor for 54% of shoppers (Trivium Packaging)
- According to Forbes, record-breaking deliveries occurred in 2020 and 2021 because of the epidemic. About 6.3 billion tons of plastic trash was produced in 2021.
- The growing number of environmentally concerned consumers is partly due to widespread anxiety over inorganic waste. Sixty-four percent of buyers in the United States are prepared to pay more for environmentally friendly items.
- Businesses may immediately improve their environmental footprint by eliminating paper use and switching to biodegradable packaging. If you manufacture your goods in-house, you may win over environmentally sensitive consumers by using sustainable materials.
Due to COVID-19, 40.3% of consumers have drastically reduced visits to traditional retailers (Raydiant)
- This data adds weight to the case for opening an online store by illustrating how consumers’ habits have changed over time.
- Consider expanding into omnichannel eCommerce if you currently operate a brick-and-mortar shop by facilitating in-store and web-based purchasing. You can increase your physical and online sales by providing a unified shopping experience across your channels.
- In addition, omnichannel eCommerce marketing outperforms its single-channel counterpart in terms of conversion rates and order value. The conversion rate for businesses with multi-channel marketing strategies was 494% higher than for companies with single-channel strategies.
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Statistics Relating to Mobile-Based Purchasing
As mobile devices become more widely available, businesses may capitalize on many new opportunities to enhance sales and customer engagement through mobile commerce.
Here are the top five statistics for mobile eCommerce and how you can use them to affect consumer choice when purchasing from your mobile device.
In 2021, mobile retail sales reached $359.32 billion, up 15.2% from the previous year (Insider Intelligence)
- Mobile commerce is growing at 29% worldwide, which is 7% faster than eCommerce. Over 67.2% of all eCommerce now takes place on mobile devices.
- The worldwide mobile commerce industry is expanding because of the proliferation of smartphones. Optimizing your online store for mobile website users is essential if you want to capitalize on the $620.97 billion in mobile commerce sales that are expected to be made by 2024.
In 2022, it is projected that voice-enabled searches will generate $40 billion in eCommerce sales in the United States alone (Invesp)
- The proliferation of mobile phones has helped fuel the expansion of the international voice-commerce industry. Because voice assistants make it possible to use mobile devices without typing, more and more people rely on them.
- Sixty-two percent of adults in the United States will use a voice assistant by 2022. Interestingly, 80% of customers who use voice assistants to make purchases are happy with their overall experience.
- As a result, you should think about adjusting to this shift by facilitating voice searches within your shop. If you do this, you’ll be able to tailor each customer’s buying experience.
- It is imperative that you pay attention to local SEO and use long-tail keywords to ensure that your online business is discoverable via voice search.
In the United States, the Amazon Shopping app has the highest ratings for both iOS and Android (SimilarWeb)
- By 2020, Alexa, Amazon’s virtual assistant, would work with 9,500 brands. One in ten digital shoppers (10.8 percent) has purchased with Amazon Alexa.
- If maintaining your website is too much of a headache, you may always join existing online markets and establish your reputation there instead, such as Amazon.
- If you like, you may use a website builder like Zyro from Hostinger to set up an online store that integrates with Amazon.
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One-third of the average person’s day is consumed by their mobile device (App Annie via Forbes)
- In 2021, mobile devices accounted for 58% of all Internet access points worldwide. When comparing mobile and desktop devices, the average conversion rate on desktop devices is nearly twice as high as on mobile. This trend shows that many people use mobile devices for online window shopping and purchases.
- Sixty-three percent of users say they would use a mobile app rather than a mobile website. About half of users (57%) cite faster performance as the primary reason for downloading an app, while another 40%) like the convenience of having their preferences saved.
- Building a mobile app for your eCommerce platform enhances the shopping experience for your consumers and drives up conversion rates.
In 2025, QR codes will be used for payments by 29% of smartphone users (Juniper Research)
- To make contactless payments, 1.5 billion individuals worldwide will utilize QR codes by 2020. There was an 11% rise in usage in the United States alone. The total amount of all transactions made using this approach is expected to exceed $2.7 trillion by 2025, which is no surprise.
- The purchase button, mobile transfers, and peer-to-peer transfers are the top three uses of QR codes. Young adults (those between 18 and 29) seem to love it.
- The use of QR codes to boost foot traffic can take numerous forms. Create one to promote your online store and use it in all of your marketing materials. You should expect increased in-store traffic as more people become accustomed to scanning QR codes.
- If you own a brick-and-mortar store, offering QR code payments is a great way to attract more customers. Since it allows for a wider variety of payment methods, it may sway their final purchase choice.
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eCommerce Marketing Statistics
Over the years, the eCommerce marketing statistics industry has grown and developed. Staying relevant in today’s cutthroat industry requires well-executed marketing strategies.
Use the following data about online retailers to create an effective advertising strategy.
According to a survey of consumers, live chat services increase sales by 38% (Kayako)
- The quality of the user experience and the level of interaction between the user and the service are greatly improved by live chat.
- Over three-quarters, (79%) of companies say that offering live chat has improved their bottom line. About 51% of buyers are more likely to make repeat purchases from businesses that provide live chat help, which is consistent with this figure.
- But despite this, 40% of customers have low expectations for live chat support’s quality and quickness. Because of high wait periods and inadequate replies, almost 84% of customers have abandoned live chat.
- Customers in this demographic can be wooed by providing a high-quality live chat service in your shop. If you intend to accomplish this, it is highly recommended that you hire a competent support staff capable of giving you individualized professional guidance.
- Giving predetermined answers will make your company’s interactions with customers seem robotic. Reduce wait times by improving the queue mechanism.
- Several excellent live chat plugins are available for WordPress, making it a viable option for providing support to customers of WordPress-based online shops.
Customers are influenced to make repeat purchases by reward programs by an 83% margin (Yotpo)
- Loyalty programs are among the many marketing tactics used to boost conversion and retention rates.
- If you can increase customer retention by only 5%, you may expect a minimum 25% increase in revenue. 42% of shoppers report spending more money on their favorite brands.
- Competition is high since more than 90% of businesses offer some customer loyalty programs. It takes a lot of work to make loyalty programs profitable.
- Offering instant gratification instead of points is a good option if you want to implement a loyalty program. A recent survey found that 79 percent of customers had lost interest in the former.
- Alternatives to free loyalty schemes, known as a premium or paid loyalty programs, have become increasingly common. As much as 81% of standard loyalty members would consider upgrading to a premium loyalty program if the perks were worthwhile.
- Free delivery, instant savings, and online bargains are common premium loyalty program incentives.
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Personalization is a priority for 89% of online retailers (Spiceworks)
- 71% of website visitors are turned off by impersonal material. This is why 51% of marketers choose personalization as their top strategy.
- According to a recent survey, 76 percent of consumers are more likely to shop with a company if they receive individualized service. Moreover, three-quarters (78%) of customers say they will return to such retailers.
- Accurate customer data is essential for tailoring advertising initiatives and retail encounters to individual consumers.
- Using digital marketing tools like Google Analytics, keep track of how customers interact with your online business. If you do so, you will have a deeper understanding of their tastes and purchasing behaviors.
- If WordPress is powering your e-commerce site, you may choose a wide variety of Google Analytics plugins to facilitate the setup process.
ROI for email marketing is 4,200% (Litmus)
- More than half of the world’s population (4.26 billion people) will have access to email by 2022. Email is expected to become one of the most effective digital marketing mediums when this number rises to 4.6 billion by 2025.
- In the retail, e-commerce, and consumer products industries, email marketing provides a very high return on investment. It boosts sales by $42 for every $1 put into it and convinces 60% of people to buy.
- Personalization in emails is just as important as in other forms of information. It boosts open and clicks rates by 29% and 41%, respectively.
- Creating an email list is the first step in email marketing. Construct signup pages and handle incoming messages with the use of dedicated software.
By 2022, online videos will be expected to surpass all other forms of digital content (Popupsmart)
- In 2021, it was expected that 86% of organizations would employ video marketing. Ninety-two percent of marketers consider video marketing important in driving retail sales.
- Live-action videos are used for marketing purposes by 42% of companies. About three-quarters (74%) of them are “explainers” that provide customers with more information about the company’s offerings.
- About half of customers think a company they like should produce more videos. Instead of spending money on internet advertisements to attract new consumers and keep the ones you have, share some quick product videos on your website.
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Social Media Statistics For eCommerce
In parallel with the rise of social media users, the prevalence of mobile phone ownership has skyrocketed. So, social media has become a powerful channel for promoting online stores.
Learn everything there is to know about social eCommerce statistics, including how to use it to boost your business’s revenue.
Every second, around ten new people sign up for a social networking site (DataReportal).
- 4.65 billion people were using social media in April of 2022. Since April 2021, 326 million people have joined social media.
- In January 2022, six social media networks will have more than 1 billion monthly active users, while 17 will have at least 300 million. Facebook’s 2.912 billion monthly active users make it the most popular social media site worldwide.
- Considering that more than 58.4 percent of the global population utilizes social media, establishing a foothold on these platforms may increase brand recognition and, in turn, social commerce sales.
- Incorporate sharing buttons for the most popular social networks into your online shop to get people talking about your stuff. If you use WordPress, you may use the numerous available social networking plugins to facilitate customer sharing of your wares and posts.
In 2022, social media is projected to contribute $45.74 billion to US retail eCommerce revenue (Insider Intelligence)
- In light of this shift, several social media sites have included social commerce tools. Therefore, it is anticipated that by 2025, social eCommerce sales will increase by 26% to reach $1.2 trillion.
- Use social media’s built-in eCommerce tools if you plan to promote there. For instance, Facebook’s Commerce Manager allows for the administration of product catalogs on both Facebook and Instagram.
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Ninety percent of marketers claim that social data gives them a competitive edge (Sprout Social)
- Social media is the most popular method for consumers to provide product reviews (31%), followed by email (18%).
- When looking for help from a company, more and more people are turning to social media instead of phone lines or email.
- Of those who follow a company on social media, 91% also go to their website or app, and 90% make a purchase.
- Followed businesses have an 86% favorability rating above competitors, and 83% of consumers will even suggest them to their loved ones.
- These social media eCommerce statistics show that having an active social media presence is helpful for businesses. The more visible your brand is online, the more loyal your customers will be and the more money you’ll make at the register.
Ninety percent of Instagram users are subscribed to at least one brand’s account (Hootsuite)
- Over two billion people used Instagram monthly throughout the world in 2021. An increase of 12.8% in audience size over the previous 12 months was reported by DataReportal.
- Instagram’s user base and sharing features provide excellent opportunities for business-to-consumer brands. Almost half of Instagram’s user base makes weekly purchases on the site.
- Instagram is a great option for promoting your company on the internet. Instagram plugins for WordPress are a great way to get your name out there.
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For 88% of buyers, genuineness is the most important quality of a brand (Stackla)
- Marketers have developed many different forms of content to spread genuine brand messaging. 60% of customers, despite this, consider UGC to be the most authentic.
- User-generated content (UGC) is more influential than sponsored or influencer material on consumers’ purchasing decisions, according to a survey of 1,004 consumers. 58% of online customers have given up on a purchase without customer feedback and images.
- Inviting customers to sign up for your online community is the most incredible method to get them to create UGC for you. A recent survey found that 62% of customers are willing to join brand communities and provide content for firms they trust.
- This will increase client loyalty and drive more online sales, in addition to the benefits of receiving high-quality promotional materials. More than half (61%) of consumers say they are likely to buy from brands encouraging participation.
Conclusion On eCommerce Statistics
So, it’s true that there are lots of new developments in the world of online shopping. Since e-commerce unites ever-changing technologies and people, we must continuously monitor the future. It’s never too late to investigate a new possibility and determine whether or not it’s beneficial for your company. E-commerce companies will cater to the whims of their customers, who are currently in the driver’s seat.
If there’s one thing that the eCommerce statistics, as mentioned above, studies, and developments point to, it’s the absolute requirement of international online trade. Your company’s future success or failure hinges on it. Therefore, we developed a systematic plan for effectively expanding internationally.
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