The eCommerce market is growing daily. It is a very huge market. Experts say it’ll have jumped to around $6.388 billion per year. eCommerce increases the demand for flexible, simple, and convenient buying opportunities.
Online stores and businesses are growing rapidly. During the pandemic of 2020 when all the stores were shut down and all the necessary things were available on online stores. It became a new normal to purchase from online stores.
When you start selling products online, you must know about the eCommerce statistics so that you can make any necessary changes to your website.
Here we have summed up some most helpful eCommerce statistics that you must know in 2023.
Why do we need to know eCommerce statistics?
Marketers need to develop new strategies that should be more effective to bring growth to their business. For that, marketers have to understand eCommerce statistics and facts.
We divided these statistics into five parts so that it becomes to understand and navigate:-
- General eCommerce Statistics
- Email eCommerce Statistics
- Social Media eCommerce Statistics
- Mobile eCommerce Statistics
- Shopping Cart eCommerce Statistics
A) General eCommerce Statistics:-
Ecommerce is growing very well and there is no sign of slowing down. These are some general statistics for you to learn from this data and use to improve your marketing strategies.
- According to Nasdaq, by the year 2040, 95% of all purchases will be through eCommerce. Nasdaq published this even before the pandemic in 2017.
- Digital payment systems and Credit Cards are now becoming common for online shopping payment modes. The most preferred payment method for online shoppers is Credit cards. According to studies by Shopify, Credit cards support around 53% of transactions.
- In the United States, 61% of online consumers made up their minds to purchase based on recommendations from a blog. (Content Marketing Institute)
- Almost 59% of millennials and members of Gen Z become the main consumers in the U.S., they check Amazon before any other eCommerce services. (Inviqa)
- In 2017, nearly 44% of all US eCommerce sales came from Amazon. (CNBC)
- Customers give their views about the product to their family and friends when dissatisfied with a product or company. 81% of customers trust the advice of their friends and family. (HubSpot)
- About 93.5% of internet users globally buy products online. (OptinMonster)
- Millennials mostly preferred chatbots as a support channel. Around 50% of online shoppers buy products from a website’s chatbot using conversational marketing. (Drift)
- Conversion rate is very important in eCommerce. The conversion rate for eCommerce websites is very low which means only 2.86% of website visitors convert into a purchase. (Invesp)
- Around 65% of online shoppers like to purchase products that have content in their own language. (Shopify)
- There are around 12-24 million eCommerce websites globally. Still, these numbers are increasing every day. (WP Forms)
- Around 51% of online shoppers make purchases via mobile phone. (Shopify)
- The main reason people prefer to shop online is that they can buy anything and anytime. Everything is available on eCommerce sites 24/7. (KPMG)
- China is the leader and biggest in the eCommerce market. China is leading with 66% of online sales. (Accenture)
- The eCommerce transactions increased during the pandemic. Covid-19 has hastened the increase of online shopping. (Deloitte)
- More than 87% of Shoppers now begin product searches online (Retaildive)
B) Email eCommerce Statistics
Email is the most important way to grow your business. It has the highest ROI rate out of all other marketing campaigns. It is a tool basically used to improve customer relationships and generate leads.
- Email is the perfect way in eCommerce for spreading awareness to customers about new products and promotional deals. 61% of consumers prefer to be connected by companies via email. (Statista)
- Email marketing yields $44 for each $1 spent, for a 4400% ROI. Email campaigns are more budget-friendly than other marketing campaigns. (OptinMonster)
- Abandoned cart emails have an average open rate of 45%. (Moosend)
- Segmentation of the email is the most important step in personalizing your email marketing efforts. It drives an average 760% increase in revenue. (Campaign Monitor)
- Email marketing was the reason behind 24% of holiday sales during the holiday eCommerce season of 2018. (OptinMonster)
- Nonprofits lose about $15k/year in donations due to spam filters blocking fundraising campaign emails. (Philanthropy.com)
- Personalization is key. Transactional emails get 8x more opens and clicks than any other email campaign and make 6x the money. (Experian)
- Email marketing campaigns contribute to 20% of traffic driving eCommerce sales. Email marketing is a key tool for online retailers. There are plenty of ways to engage customers via emails. (Wolfgang Digital)
- 60% of consumers have made a purchase after they receive email marketing. (OptinMonster)
C) Social Media eCommerce Statistics
In digital marketing, social media presence is the need of the hour. It can get you a huge increase in profits. It is the most powerful tool for marketing. Most of the attention of customers is on social media. People make money online using various social media platforms, you can do the same to become a millionaire.
- Social media networks are the best way to know about products. Almost 25% of US shoppers research on social media before purchasing a gift for friends and family. (nChannel)
- Online stores that have social media presence sales 32% more than others that don’t have social media platforms. Online stores that use platforms like Instagram, Facebook, Twitter, and YouTube get more sales. (BigCommerce)
- To build a strong relationship with customers and improve sales eCommerce websites have to use social media marketing campaigns, and publish 4-5 posts every week. The average eCommerce website puts out 4.55 posts a week on their Facebook page. (BigCommerce)
- Knowing about others’ experiences and reviews of any product helps customers to make the right decision to make a purchase or not. 74% of consumers depend on their social networks for making buying decisions. (Kinsta)
- Most social media orders come through Facebook; it is known as the most influential social media platform for boosting sales. 85% of orders from social media sites come from Facebook. (Shopify)
- The average order is 10 dollars higher on Instagram than on Facebook and other social media platforms. The average order value for customers referred from Instagram is $65.00, followed by Facebook ($55), Twitter ($46), and YouTube ($38). (Cmswire)
- After viewing an Instagram advertising post 75% of Instagram users have taken an action to visit that website or purchase a product. (Locowise)
- Video marketing is quickly gaining success in eCommerce sales. The figures of marketers sharing video content on LinkedIn rose to 65% in 2021. (DreamGrow)
- Consumers like to view photos of products showing front, back, side, 360-degree, and close-up. Posts with photos of the product get 53% more Likes, 104% more comments, and 84% higher click-through rates(CTR). (Neil Patel)
- Content is the key to marketing. Customers like to view short and sorted content. Any social media posts with 80 characters or less get 66% more engagement. (Neil Patel)
- Based on projections, over 50% of marketers got on board with LinkedIn in 2021. (Sprout social)
- In Q1 2021, marketers spent 60% more on Facebook and Instagram ads versus Q1 2020. (Sprout social)
- Recently social media passed paid search as an advertising channel, increasing 25% YoY and exceeding $137 billion (just edging out search’s $135 billion). (Sprout social)
D) Mobile eCommerce Statistics
Mobile eCommerce is now increasing as people now use their mobile devices for shopping and payment. There are the following mobile eCommerce stats that you should know.
- Customers purchase on their mobile phones as it saves time. 3 out of 4 consumers purchase products from their smartphones. (Oberlo)
- Almost 93% of Millennials compared online deals using their mobile phone. (Statista)
- Around 40% of all online purchases were made in the holiday season of 2018 on smartphones. (Outerbox)
- 65% of customers look up price comparisons on their mobile while in a store. (KPMG)
- If your web page loading times on mobile are 3 seconds, 53% of users are likely to bounce from the website. The bounce rates increase by 90%, and if they reach 10s, the rate will jump by 123%. (Think with Google)
- Mobile payments have increased 80% of customers pay via mobile. (McKinsey)
- In the United States 82% of Internet users shop online through a mobile device. (Statista)
- Customers using a mobile phone can purchase from apps or from the website of the product. Conversion rates from mobile apps are 3x higher than mobile websites. (Marketing Land)
- 73% of consumers will switch from a poorly designed mobile site to one that makes purchasing easier. (Google)
- The time spent in online shops is currently 44% on mobile, 45% on desktop, and 11% on tablet. (Readycloud)
- In 2022, UK mobile eCommerce sales are expected to reach £79.8 billion. (Statista)
- 73% of consumers like to purchase from sites that provide an easier buying experience than poorly designed sites. (Google)
- 53% of smartphone and tablet users like to shop from the apps of the brand. (Invesp)
- Customers having a bad experience in the mobile store of a company are 62% less likely to buy from the company in the future. (Google)
- Mobile owners spend 90% of their time on the mobile within apps. (Flurry Analytics)
- CTA buttons (like a Click-To-Call button) are the key to increasing customer engagement and sales. It can create a 45% boost in clicks. (CopyBlogger)
- Every year on Black Friday sales generated by online mobile shopping keeps growing. Sales from mCommerce on both Black Friday and Cyber Monday in 2018 were more than $2 billion, breaking the previous records set the year before. (Practical eCommerce)
E) Shopping Cart eCommerce Statistics
There are online shopping cart eCommerce statistics that every marketer should know.
- An optimised checkout design in eCommerce sites will be able to gain a 35% increase in conversion rate. (Baymard Institute)
- The highest Shopping cart abandonment is in the automotive industry which is 96.88%. (zyro)
- The main reason for consumers to abandon their shopping carts is shipping fees and other extra costs. 49% of consumers abandon their shopping carts just because of these two reasons. (Baymard Institute)
- Before adding items to their shopping carts 65% of U.S. consumers first check whether shipping is free or not. (National Retail Federation)
- The worst cart abandonment rate of all devices is 78% for mobile, followed by tablets (70%), and desktops/laptops (67%). (OptinMonster)
- The abandonment rate increased by 75% due to the slow-loading of a website page. (Baymard Institute)
- 46.5% of small to mid-sized companies say that providing free shipping services increases their profits. (MCM)
- A machine-learning algorithm was able to predict 83.58% of abandoned shopping carts in an online store of a large German online retailer. AI is getting better at reducing cart abandonment.
- 28.3% of eCommerce revenue comes from abandoned cart emails. (SaleCycle)
- Brands can lose $18 billion due to cart abandonment. (Dynamic Yield)
- The abandonment rate on phones is 80.79% in 2019. (Barilliance)
- Exit-Intent popups have helped recover 53% of abandoning visitors. (OptinMonster)
eCommerce Statistics Infographic
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The demand for online shopping is getting greater than ever during the pandemic. Online shopping is now more than just a developing industry. It has come as one of the most important ways for large and small businesses to reach customers.
It became part of the daily routine of customers. As of now, people use various ways to shop online and also like to do payments online using apps. Ecommerce statistics show the emerging power of the digital world. It provides a platform for the smallest and the biggest online retailers to offer better service and more generous offers.
These eCommerce statistics provide you with the data to improve your skills and improve the customer buying experience.