With it, you can make informed strategic decisions that will pay dividends in the future. Without it, you must resort to guesswork that may cost you dearly. Many of the statistics touted online can be at best outdated, and at worst wildly inaccurate. Plus, we also provide killer resources to help you implement these strategies today.
In fact, with an expected global population of 7. For help, check out: How to Start an Online Business in This statistic clearly shows how ecommerce is becoming a more and more important part of global commerce. The Key Takeaway: Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide.
Once again, this trend offers massive opportunities for new entrepreneurs. With so many businesses slow to capitalize on the growing ecommerce trend, this is great news for new and existing ecommerce entrepreneurs. And if you want to compare some of the biggest providers, check out this list of the best ecommerce platforms. In other words, the strength of ecommerce lies in its convenience.
The Key Takeaway: Make sure that your customer experience is built for convenience. Shoppers should find the process simple and intuitive. This also means providing fast shipping and hassle-free returns. To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to them. One way to do this is to set up a Facebook Shop. Well, without the costs of maintaining a physical store and large inventory, ecommerce dropshipping businesses can keep overheads low.
So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? The Key Takeaway: Advertise your products where shoppers who look up price comparisons will see them. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. Remember, the ability to research purchases is one of the key reasons people shop online instead of in-store.
The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. Your product pages should have plenty of high-quality product images , descriptions, and specifications.
This will instill trust and help shoppers with their research. The Key Takeaway: Harness the power of social proof to increase sales. Thankfully, there are numerous ways businesses can take advantage of social proof. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. Left unchecked, providing a poor customer experience will be the death of any business.
However, retaining customers over time can lead to huge business growth driven by repeat purchases. The Key Takeaway: Ensure you provide your customers with a stellar customer experience from start to finish. Done right, customers should look forward to purchasing from your business again in the future. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. 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. And ensure customer service representatives are easily accessible.
Benchmark Most popular online retail website worldwide by traffic. Shopping traffic and behavior Global online shopper conversion rate. Share of global online consumers who shopped on retailer sites and apps. Digital payments Most popular online retail payment method in the Americas. Number of average monthly visits to global retail e-commerce websites.
Interesting statistics In the following 6 chapters, you will quickly find the 47 most important statistics relating to "E-commerce worldwide". Statistics on the topic. Overview Global retail e-commerce sales Leading internet and online services companies worldwide , by market cap. Revenue growth of selected internet and online service company verticals Share of e-commerce traffic worldwide , by source and medium. Share of e-commerce session revenue worldwide , by source and medium.
Worldwide share of consumers that shop online Leading sources of shopping inspiration for digital buyers worldwide Number of reviews online shoppers read before making a purchasing decision Share of social buyers in selected countries worldwide , by age group. Leading incentives driving purchases among internet users shopping online Most used payment methods for e-commerce worldwide , by region.
Online traffic change YTD , by industry. E-commerce purchase frequency change due to the coronavirus outbreak , by country. For this reason, staying on top of ecommerce trends can help you build advanced strategies that will help set you up for ecommerce success in both the near and far future. 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.
In a study of U. Despite seeing an increase in direct-to-consumer strategies, a study in September found that the most popular online mobile shopping app, by reach, was Amazon. This statistic tells us that mobile commerce , especially the use of mobile apps, are increasingly important when developing an online selling strategy. In addition, retailers should consider including Amazon and Walmart in their omnichannel strategy.
Ecommerce success is more than having a beautiful website — you need a healthy amount of traffic to your online store. In a recent Statista survey , direct to site, email, and SEO were found to be leading traffic drivers. Ecommerce sites are growing in numbers. To give context to this growth, The growing number of ecommerce websites is definitely a contributing factor to this holistic number.
But, there are many more ecommerce trends , in addition to those listed earlier, that are igniting this growth:. Taking a more granular view of ecommerce growth, U. While seasonal fluctuation is always something to consider, this statistic proves there is consistent growth in the ecommerce market. With more revenue comes an increased average order value — making it possible for legacy products to make a statement online.
For example, DTC furniture brand Burrow has already begun to transform the furniture industry with their headless commerce approach. This statistic is a sign of good health as the share of ecommerce sales continues to grow in the retail space. You can expect this percentage to exponentially increase in years to come.
With little to no surprise, companies like Amazon, Google and Facebook continue to take precedence in the internet world. While they traditionally do not offer commerce solutions, these companies are focusing on more innovation in the commerce space. As we have seen omnichannel strategies become increasingly vital to growing companies, the leading internet companies are capitalizing on the opportunity to be leaders in the commerce world.
No consumer is made equal. But, understanding the behavior of consumers shopping online can help you create a digital strategy for your business. When creating your ecommerce strategy, think on how you can capitalize on this statistic. Gen Z and Millennials have let us know that experience purchases are becoming increasingly more favorable. Per this Statista statistic , books, movies, and games is the product category with the most online purchase preference.
Understanding what technology your consumers use to place orders on your website is crucial. Windows OS continues to take the lead as the technology that customers use most to place online orders. When creating your UX or store design , keep in mind how that experience looks and feels on Windows OS.
In B2C ecommerce, average conversion rates hovered between 2. The highest peak, 3. Payment processing across ecommerce has experienced a lot of innovation since its debut. WeChat Pay, a part of WeChat which isone of the most popular messaging platforms in China, takes the top spot for mobile payment platforms around the world.
The payment platform allows users to pay in Chinese Yen CNY and transactions are settled in a foreign currency.
While the gap is substantial, the U.
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