Learn more about the impact. To learn how read: How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. e-retail sales accounting for 14.1% of all retail sales, ecommerce continues to grow at a speedy rate. Resize your images to improve your website’s load speed. Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide. Thankfully, there are numerous ways businesses can take advantage of social proof. The results released based on these data collections are often called statistics. [5] The number of capabilities in e-commerce technology stacks is increasingTotal Cost of Ownership (TCO), making companies consider a unified cloud platform more than before. In this article, we’re going to take a look at the most important ecommerce statistics for 2020 – from mobile commerce stats, consumer behaviour, social media and shopping cart abandonment to the ecommerce market share. E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. E-commerce industry helps to build brand image of a company and increases visibility of products on a global scale. Online shoppers are most likely to abandon shopping carts due to high costs. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. Online shoppers are more likely to abandon their shopping cart if businesses require them to make an account. More than 30 million U.S. business enterprises; 325 million Americans; and 93,000 tribal, state, and local governments rely on our data to make informed decisions. Around 40% of retailers are using social media platforms to generate sales. If these numbers make you … 36. B2B Ecommerce Statistics. Choose a great website theme that’s optimized for mobile devices. Once again, this trend offers opportunity for new entrepreneurs. Big data plays a big role in creating personalized experiences. The estimates in this release are based on data collected from four surveys conducted by the U.S. Census Bureau: the 2016 Annual Survey of … In 2019, total US ecommerce sales reached $595.5 billion, a 14.9 percent year-over-year increase from 2018’s $518.5 billion.It’s also one of the fastest US ecommerce growth rates in seven years, second to 2017’s 15.5 percent year-over-year increase. MAY 24, 2018 — This report summarizes 2016 e-commerce statistics on shipments, sales and revenues from four sectors of the economy: manufacturing, wholesale, services and retail. 59% of Millennials will go to Amazon first when online shopping. The Key Takeaway: Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. Ecommerce Statistic #15: Nearly half (48 percent) of online shoppers simply head straight to a large ecommerce marketplace. (Ovum’s The Future of E-commerce: The Road to 2026) The UK is generally considered the world’s most mature click-and-collect market, so it spearheads this global trend. Source: Digital Commerce 360, Delivery time is important to online shoppers. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! Online shoppers make purchases via mobile more often than on PC. Based on the latest ecommerce numbers, the internet penetration in the UAE stands at 99%. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. 1 in 4 companies is selling items via Facebook. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Three of the six largest ecommerce markets are in Western Europe. The Asia-Pacific region is the fastest growing ecommerce region in the world. One of the most obvious signs demonstrating the future of commerce’s place online is the fact that 13.7% of all global retail this year, according to e-commerce statistics, will occur on the web. According to mobile users statistics, there are 5.1 billion unique mobile users. Amazon is also the leading e-commerce retailer in the world today, posting net revenues of $232.88 billion in 2018. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? The growth of ecommerce is out of this world! Luckily for us, e-commerce is widely studied, so there’s a ton of research about it. This also means providing fast shipping and hassle-free returns. According to Statista’s predictions, online retail is expected to hit the $6 trillion mark by the year 2023. Plus, many people already have existing accounts on large ecommerce marketplaces that they know and trust. B2B Ecommerce Statistics. 10 Entrepreneur Statistics You Need to Know in 2020 [Infographic], 10 Mobile Usage Statistics Every Marketer Should Know in 2020 [Infographic], 10 Remote Work Statistics That You Need to Know in 2020 [Infographic]. Statistics on " E-commerce in France " The most important statistics. It’s growing so quickly that it’s expected to make up a whopping 17.5 percent of retail sales worldwide by 2021. That’s a lot of potential customers. Thankfully, these days, most website themes come optimized for mobile. There will be $4 trillion in e-commerce sales in 2020. While fast shipping is in great demand, high spend for it isn’t. Mobile Phones and Internet Usage Statistics 1. Well, you’re not alone. Omnichannel allows you to optimize your communications with potential customers to nurture them through the sales funnel however they come into contact with your business. however they come into contact with your business. 93.5% … According to 99Firms’ Ecommerce Statistics for 2020, the ecommerce market is not only thriving, but it’s expected that more than 95% of all purchases to be conducted via ecommerce by 2040. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. Around 9% of respondents said they used voice technology to shop once a week or more frequently. Ecommerce Statistic #4: The number one reason people shop online is that they’re able to shop at all hours of the day. The Key Takeaway: For the sake of customer retention, it’s vital you provide a fantastic mobile shopping experience. Let us know in the comments below! The UK is the leading ecommerce market in Europe with $141.93 billion in ecommerce sales, followed by Germany ($81.85 billion) and France ($69.43 billion). Get your products to appear in Google’s Shopping search results. Plus, with tools like Shopify, it couldn’t be more simple to set up a website. Hire yourself and start calling the shots. Omnichannel is the next level up – and it’s the future of ecommerce. Ecommerce Statistic #8: 80 percent of people stop doing business with a company because of poor customer experience. E-Commerce Industry 2020 View Trends, Analysis and Statistics. eCcommerce is one of the most profitable industries in the … Around 53% of online shoppers left a review on Amazon. Social Media eCommerce Statistics. What’s more, this number is rising rapidly and is expected to hit a massive 2.14 billion people in 2021. Make the checkout process short, fast, and easy. Online retailers that have at least one active social media account make 32% more sales than online retailers that don’t use social media platforms. Ecommerce Statistic #19: Younger people spend more time shopping online than older people. For this reason, the strategy requires organization and the integration of new technologies. That's why we’ve gathered the top 45 ecommerce statistics that you need to know. and many shoppers will use it to quickly compare prices. MAY 24, 2018 — This report summarizes 2016 e-commerce statistics on shipments, sales and revenues from four sectors of the economy: manufacturing, wholesale, services and retail. So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? But more important than what it is, is what it isn’t. If these numbers make you … However, retaining customers over time can lead to huge business growth driven by repeat purchases. Ecommerce statistics: Amazon. US ecommerce will continue to grow by double digits in 2019 amid a strong economic backdrop that is beginning to moderate compared with prior years. , that’s about 25 percent of the world’s population shopping online. So it’s likely that most of your customers will be accessing your website from a mobile device. We tested and reviewed the services reviewed here. These statistics are available for the nation from 1998.. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." The study behind the statistic also found that consumers are also more likely to trust businesses that are open and honest about negative news or events: The Key Takeaway: Build strong relationships with your customers and make hands-on customer service a priority. Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will double your sales. To learn more, read: How to Pick the Best Shopify Theme for Your Ecommerce Store. It goes by many names — cross-border commerce, borderless business, international online retail. Global Ecommerce Statistics and Trends to Launch Your Business Beyond Borders. eMarketer’s Global Ecommerce Forecast 2019 Report forecasts that ecommerce will continue to grow at a steady rate around the globe with the Asia-Pacific region leading the ecommerce growth charts. by Aaron Orendorff. E-commerce industry helps organizations to provide better customer service and experience. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Businesses without websites should set up an online store before they’re left in the dust. Ecommerce Statistic #7: 81 percent of consumers trust the advice of friends and family over businesses. In fact, with an estimated global population of. About the Report. Build strong relationships with your customers and make hands-on customer service a priority. How to Pick the Best Shopify Theme for Your Ecommerce Store, For the sake of customer retention, it’s vital you provide a, Blog Design Inspiration: 20 Designs to Help You Start Your Blog, and Gen Xers spend six hours per week shopping online, Baby Boomers spend four hours per week shopping online, Seniors spend two and a half hours per week shopping online. The estimates in this release are based on data collected from four surveys conducted by the U.S. Census Bureau: the 2016 Annual Survey of … Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. I Have Lots of “Add to Carts” But No Conversions. [5] Social Media Influence Thankfully, there are numerous ways businesses can take advantage of social proof. In other words, the strength of ecommerce lies in its convenience. Most of them scroll down Instagram for inspiration. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. Virtually every social media platform is a good platform for eCommerce activity and more are taking up the mantle. This makes sense when you consider the high level of buyer intent shoppers have when they add products to their cart. A third of the interviewed consumers purchase products online once a week or more frequently. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. Well, by the end of 2019 (according to data from Statista) the global ecommerce market had sales reaching $3.5 trillion and represented 14% of the total share of global retail sales. China’s market size is twice the size of the US one in 2017. Statistics on " E-commerce in France " The most important statistics. The Key Takeaway: With more and more people shopping online each year, there’s never been a better time to start an online store. Source: Baymard Institute. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. Around 13% of participants had their items shipped to an Amazon locker. Ecommerce Statistic #6: 81 percent of consumers conduct online research before making a purchase online. They’d rather watch a live video than read a blog post. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. U.S. E-Commerce statistics compiled from press releases, earnings reports and Marketplace Pulse data. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Thankfully, there are tons of ways you can do this. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. With it, you can make informed strategic decisions that will pay dividends in the future. The statistics collected in the E-STATS report are primarily used to provide the business community and policymakers of the United States with relevant economic metrics, which inform business and policy decisions. Advertise your products with Google Shopping so shoppers looking up price comparisons will see them. And what’s coming in 2020? Left unchecked, providing a poor customer experience will be the death of any business. Source:eMarketer. Ecommerce Statistic #16: Mobile ecommerce is expected to account for 67.2 percent of digital sales in 2019. The second most important factor is the ease of shipping return followed by the cost of return. Interesting eCommerce Statistics: By the year 2040, it’s estimated that 95% of all purchases will be through eCommerce. Ecommerce statistics can help you see the big picture by answering these questions and more. For help, check out How to Start a Business in 2020. It’s extremely important to have a clearly defined target market. Advertise your products where shoppers who look up price comparisons will see them. I Have Lots of “Add to Carts” But No Conversions. General Ecommerce Market Statistics. Customer-centric companies experience … Previous Releases (Q4 1999 to present) Select the year, quarter, and format, and click "Get Release" to generate the report you would like to view. To learn how check out: Customer Retention: 10 Tips to Keep Your Customers Coming Back. Shopping cart abandonment is a big topic for ecommerce businesses. The Key Takeaway: Make sure that your customer experience is built for convenience. The Key Takeaway: Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. Whether you own an online store or are looking to launch a scalable small business, understanding how internet users shop is key to your business model strategy. These statistics are available for the nation from 1998.. They even add a product to their shopping cart… only for two-thirds of them to click away. Social media continues to be a dominant force in the eCommerce sphere. (Statista) #2. 56% of the world’s population has internet access. EU Statistics on electronicThis article focuses on the electronic commerce statistics in the European Union (EU) and is based on the results of the 2019 survey on 'ICT usage and e-commerce in enterprises'.E-commerce refers here to the trading of goods or services over computer networks such as the internet by methods specifically designed for the purpose of receiving or placing orders. The results released based on these data collections are often called statistics. Define a clear target market that you cater to. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). 2008-2009 were challenging years for retailers. One way to do this is to set up a Facebook Shop. But creating stunning …. The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. The number one reason why consumers decide to shop on a marketplace instead at a retailer is the price tag. This is a psychological phenomenon often referred to as “social proof.”. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. This means they sell to and communicate with customers through multiple channels. By 2020, the m-commerce sales from smartphones will see a growth of 31.5% and generate nearly $270 billion. However, The Baymard Institute found that the average ecommerce websites need to work on at least 39 areas in order to improve the checkout process. This site features recent and upcoming releases, information on methodology, and background papers. This will allow you to tailor every aspect of your customer experience to the needs and preferences of your ideal customers. Ecommerce Statistic #11: 69 percent of shopping carts are abandoned. One of the most obvious signs demonstrating the future of commerce’s place online is the fact that 13.7% of all global retail this year, according to e-commerce statistics, will occur on the web. Done right, customers should look forward to purchasing from your business again in the future. In other words, a small increase in your online store’s conversion rate can massively increase profits. 6 Vital Email Templates Every Online Business Should Steal, Omnichannel is the next level up – and it’s, Omnichannel allows you to optimize your communications with potential customers to nurture them through the. Make the checkout process short, fast, and easy. Important E-Commerce Industry Statistics #1. The number of digital buyers worldwide is expected to reach 2.05 billion in 2020, accounting for a quarter of the world population. The United Arab Emirates were until 2015 the leading growth market for e-commerce in the Gulf Cooperation Council region. In comparison, according to MailChimp, the average email open rate for ecommerce businesses is just 15.66 percent. (. You might even want to consider raising your prices slightly and offer free shipping. It’s not one strategy among many. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. Absolunet 10 Ecommerce Trends in 2019 found that social buying is on the rise. Spending on B2B e-commerce platform technologies, systems and services continue at a pace over 2X the B2C e-Commerce market. This invaluable data is what will help you make strategic decisions that’ll help you grow your business even further. Avoid springing high fees on customers during the checkout process and consider offering free shipping. To learn more, read: How to Harness the Awesome Power of Customer Relations. Create an email campaign to automatically follow up abandoned carts. We are independently owned and the opinions expressed here are our own. In 2021, there will be more than 2.14 billion digital buyers worldwide, up from 1.66 billion in 2016. Ecommerce Statistic #12: Unexpected extra cost is the number one reason shoppers abandon carts. What’s more, Instagram…, Thinking about getting in on the trend of video and live streaming for your business and not quite sure how and where t…, In a world dominated by visual content, a captivating video can help drive your brand’s success. Customer Retention: 10 Tips to Keep Your Customers Coming Back, Think about it, people don’t actually trust businesses per se – they place their trust in the. Here’s a quick summary of those strategic insights: Which key takeaway has been most useful to you? In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. And nowadays people will reach out through Facebook if they have questions. Ensure you provide your customers with a stellar customer experience from start to finish. This can make a huge difference to your bottom line. Ecommerce Statistic #5: 65 percent of shoppers look up price comparisons on their mobile device while in a physical store. There are an estimated 12 million – 24 million eCommerce sites across the entire globe, with more and more being created every single day. In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! This can make a huge difference to your bottom line. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. UAE ECOMMERCE MARKET STATISTICS 2018. In turn, this will help to increase conversions and customer retention. Statistics show that unhappy customers can tarnish the reputation of businesses and that most customers find the customer experience one of the most important aspects of doing business with a company. Harness the power of social proof to build trust and increase sales. (. By 2021, world’s m-commerce sales will make up for 53.9% of all e-commerce sales. How Much Does it Cost to Start a Dropshipping Store? E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. The Key Takeaway: Harness the power of social proof to increase sales. Ecommerce Payment Stats: Which Methods do Shoppers Want? In the US alone, ecommerce represents over 10% of retail sales and that number is expected to grow by nearly 15% each year! These surveys used different measures of economic activity such as shipments for manufacturing, sales for wholesale and retail trade, and revenues for service industries. The eCommerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website. E-commerce data were collected in four separate Census Bureau surveys. Statistics 2018 them bought products from other marketplaces good platform for ecommerce activity and more are up. Shoppers left a review on Amazon at 1.32 billion in 2018 an account high-quality product images, descriptions and! 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