Today, you don’t have to build a physical brick-and-mortar location to have a successful store.
The emergence of Amazon, eBay, Shopify, and other online marketplaces are allowing consumers to order products right from their homes.
The world of e-commerce is accomplishing 2 significant things:
1. Providing speed and convenience to today’s consumers.
2. Allowing entrepreneurs to take advantage of a global clientele.
However, while e-commerce stores make it easier to reach the ideal customer, it still requires a cohesive and comprehensive strategy to be successful.
In 2017, Statista reported that there were 1.66 billion global buyers.
If we take into account that there are just under 8 billion people in the world, that means that 21.8 percent of this planet’s population buys online.
These individuals have varying tastes, expectations, and wants. Finding the right audience for your e-commerce store should take all of these elements into account.
Understanding your ideal buyer will allow you to create strategies that will help you to develop leads that you can then convert into sales. So, your task is finding out as much about the trends of e-commerce as well as your audience. We are here to help with that.
If you are stepping into the world of e-commerce, we invite you to take a look at the below statistics to help you create strategies to better reach your online audience.
E-Commerce Industry and Demographic Statistics
Before you open your next e-commerce store, you have to know exactly what you are getting into. Understanding the state of the current industry, as well as data concerning the overall audience of e-commerce stores, can help you create effective strategies.
So, what is currently happening in the world of e-commerce? Take a look at these stats below.
- E-commerce sales are projected to grow to $4.1 trillion in 2020. (Source)
- Fifty-seven percent of online shoppers purchase from overseas retailers. (Source)
- Asia has the largest regional e-commerce market with $831 billion. (Source)
- In 2021, there are estimated to be over 2.14 billion people worldwide who purchase goods online. (Source)
- In 2019, e-commerce sales are expected to account for 13.7 percent of worldwide retail sales. (Source)
- Roughly half of American small businesses do not have a website. (Source)
- The top reason that people choose to shop online is that they can shop at all hours of the day. (Source)
- The preferred device for shopping online is a laptop or PC. (Source)
- China and the United States are the countries with the top two projected e-commerce growth from 2018 to 2023. (Source)
- In North America, the top two product categories are video gaming (31 percent) and packed grocery (19 percent). (Source)
E-Commerce Customer Service Statistics
While customers care about your product, they also are influenced by the way you treat them. Creating a worthwhile customer experience starts with exceptional customer service.
Great customer service increases trust, brand loyalty, and makes it even more possible for customers to return for another purchase.
Below are statistics that reveal the significance of e-commerce customer service, and how customers respond in favourable and unfavourable situations.
- 80% of people stop doing business with a company because of poor customer service. (Source)
- Consumers are most likely to trust a business that makes it easy to contact people at the company. (Source)
- Abandoned cart follow-up emails have an average open rate of 45 percent. (Source)
- Eighty-two percent of consumers rate an “immediate” response as important or very important when they have a marketing or sales question. (Source)
- 90 percent of consumers rate an “immediate” response as important or very important when they have a support question. (Source)
- 30 percent of online consumers have posted product feedback online. (Source)
- 81 percent of consumers trust the advice of family and friends over businesses. (Source)
- Nearly 70 percent of US online shoppers said that their most recent return experience was “easy” or “very easy,” and 96 percent would buy from their retailer again based on their experience. (Source)
- More than two-thirds of shoppers are deterred by having to pay for return shipping (69 percent) or restocking fees (67 percent). (Source)
- Seventeen percent of shoppers said they would not make a purchase without the option to return to a physical store. (Source)
Shopping Cart E-Commerce Statistics
You may have developed a stellar email marketing strategy that helps customers move through your promotional email to add a product to their cart.
However, you want to ensure they complete the sale. There are many reasons customers decide to abandon—or purchase—the items in their cart.
Here are some statistics to help you hone your e-commerce shopping cart strategy to ensure customers complete the sale.
- The top reason that shoppers abandon their carts during checkouts is high extra costs. (Source)
- One out of four shoppers abandons their carts because of a long or complicated check out process. (Source)
- Better checkout design can lead to 35.26 percent increase in conversion rate. (Source)
- Online shoppers abandon their carts 68 percent of the time. (Source)
- 34 percent of shoppers abandon carts if they are required to create an account. (Source)
- $260 billion worth of lost orders can be recovered through better checkout design. (Source)
- Cart abandonment rates are highest for travel sites (81.1 percent) and lowest for fashion retailers (73.5 percent). (Source)
- When it comes to fashion and retail, 34 percent of customers abandon their carts because they were just looking or researching. (Source)
- Fifty-four percent of shoppers will purchase products left in shopping carts if those products are offered at a lower price. (Source)
- Out of ten items that are put into an average user’s online cart, only about 3.2 items are actually purchased. (Source)
Technology-Related E-Commerce Statistics
It is impossible to talk about e-commerce statistics and strategies without having a conversation about technology and digital tools.
How customers find your store online, the devices they use to access it, and their experience navigating it all is crucial to understand.
So, below are some statistics about the technology-related aspects of e-commerce purchases, and the impact on customer experiences.
- In 2019, mobile e-commerce is estimated to account for 67.2 percent of digital sales. (Source)
- 65 percent of shoppers look up price comparisons on their mobile device while in a physical store. (Source)
- 48 percent of consumers would rather connect with a company via live chat than any other means of contact. (Source)
- 40 percent of consumers do not care if a chatbot or a human is helping them as long as they are getting the help they need. (Source)
- Over 70 percent of buyers would be more loyal to brands who incorporate augmented reality as part of their shopping experience. (Source)
- Over 40 percent of millennials have made a purchase using voice search before making a purchase online. (Source)
- By 2021, it is predicted that early adopter brands that redesign their websites to support visual and voice search will increase digital commerce revenue by 30 percent. (Source)
- 37 percent of customers will leave a website if the layout is unattractive or too difficult to use. (Source)
- 57 percent of customers will leave a website if they have to wait more than 3 seconds for it to load. (Source)
- 44 percent of internet retail minutes are spent on mobile phones, and 11 percent is spent on tablets. (Source)
Customer Buying Process E-Commerce Statistics
How are customers finding out about your business? Also, how are they making the decision about whether to abandon their cart or move forward with a purchase?
Understanding the customer buying process—especially in relation to e-commerce stores—is crucial to creating strategies that can attract your target audience.
So, check out the stats below for insights into how customers are moving through their purchase decisions.
- On average only 2.86 percent of e-commerce website visits convert into a purchase. (Source)
- 48 percent of online shoppers head straight to a large e-commerce marketplace. (Source)
- 1 dollar of every 3 dollars of monthly discretionary income is spent online. (Source)
- In Q4 of 2015, nearly half of all U.S. e-commerce sessions were from transactions from repeat visitors. They spent almost double the amount of what new shoppers spent in that time period. (Source)
- 60 percent of consumers take the time to review a return policy before making a buying decision. (Source)
- 35 percent of product searches begin on marketplaces. (Source)
- 74 percent of online shoppers rate product selection as important during the online search process. (Source)
- 31 percent of product searches begin on retailer’s channels while 15 percent start on search engines. (Source)
- 30 percent of consumers say they would rather buy from a website they’ve bought from previously. (Source)
- 85 percent of consumers conduct online research before making a purchase online. (Source)
Social Media E-Commerce Statistics
When it comes to purchasing online items, social media platforms are playing a larger role in purchasing decisions.
Across the globe, many individuals are spending more and more time on social media where they are exposed to ads, interactions with corporations, and recommendations from peers.
If marketers can harness the power of social media marketing, they can turn followers and engagement into e-commerce conversions.
- Social media is the third most used channel for research regarding an online purchase at 38 percent. (Source)
- 15 percent of online shoppers have made purchases by following a link from social media. (Source)
- 25 percent of business owners are selling through Facebook. (Source)
- 40 percent of business owners as a whole are using social media to generate sales. (Source)
- 30 of consumers say they would make purchases through Pinterest, Instagram, Twitter, or Snapchat. (Source)
- 23 percent of consumer’s purchasing decisions are influenced by recommendations on social media. (Source)
- 80 percent of those who use Instagram use the platform to decide whether to buy a product or service. (Source)
- When compared to non-users, Instagram users are 70 percent more likely to make online purchases on their mobile devices. (Source)
- 78 percent of American consumers have discovered retail products to buy on Facebook. (Source)
- Online stores that have a social presence have 32 percent more sales on average than store that don’t. (Source)
Amazon E-Commerce Statistics
Amazon is the top e-commerce platform in the country. You cannot have a conversation about online marketplaces and digital sales without including Amazon.
Many small business owners have opened stores on the platform, and in 2018 Amazon’s share of the e-commerce market hit 49 percent.
Therefore, it is worthwhile to understand the influence of Amazon and how it can impact your e-commerce approach.
- Each month more than 197 million people around the world visit Amazon. (Source)
- 9 out of 10 consumers check the price of a product on Amazon. (Source)
- 55 percent of consumers begin their online shopping searches on Amazon. (Source)
- 95 million people have Amazon Prime Memberships in the U.S. (Source)
- On average, 2 in 5 consumers receive one to two packages from Amazon every week. (Source)
- For consumers 18 to 25, 50 percent receive one to two packages a week, while the same goes for 57 percent of those in the 26 to 35 age range. (Source)
- More than a third of customers use Amazon to fill prescriptions online. (Source)
- In the last six months, 83 percent of US consumers have made a purchase on Amazon. (Source)
- The largest revenue segment for Amazon in 2018 were retail products. (Source)
- Lower prices are the most important factor driving U.S. buyer decisions on Amazon. (Source)
Google E-Commerce Statistics
While Amazon does beat out Google on product searches, the search engine is still a popular tool for customers to research or find products.
Understanding the ways that consumers are using Google during their buying process, is essential to creating an e-commerce strategy that allows you to attract your ideal buyer.
Take a look at the statistics below for valuable insights.
- Over 3.5 billion searches occur on Google every day. (Source)
- 35 percent of product searches start on Google. (Source)
- The average amount of time between a Google product search and a purchase is 20 days (it’s 26 days on Amazon). (Source)
- 20 of Google searches on mobile are done with voice. (Source)
- 21 percent of searches lead to more than one clicks on Google’s results. (Source)
- 43 percent of all e-commerce traffic comes from organic Google searches. (Source)
- The first position on Google search results on desktop has a 20.5 percent clickthrough rate in 2017. (Source)
- Over 64 percent of people click on Google ads when they are looking to buy an item online. (Source)
- Google drives 95 percent of paid search ads clicks on mobile. (Source)
- Twenty-six percent of e-commerce traffic comes from Google Adwords. (Source)
Generational E-Commerce Statistics
In 2019, there are four different generations that are shopping, interacting with brands, and researching products and services.
Each one has their own motivations, experiences, and economic status. Your challenge as an e-commerce marketer is to appeal to these individuals, and that starts with understanding the traits that contribute to their buying habits.
So, take a look at the below statistics on generational e-commerce statistics for some helpful insights.
- As of 2017, Generation X shoppers are the most active online shoppers with an average of 19 transactions per person. (Source)
- Generation X makes 20 percent more purchases than millennials. (Source)
- Baby Boomers are just as likely to shop online as millennials. (Source)
- Baby boomers spend an average of $203 per transaction, while Generation X spends $190, and millennials spend $173. (Source)
- 72 percent of millennials are more likely to purchase based on photos from others who have used a product. (Source)
- Forty-four percent of Generation X shoppers use in-store pick-up or home delivery services when available. (Source)
- 24.56 of Baby Boomers spend money on products they find on Facebook. (Source)
- Generation Z is twice as likely than the average customer to make a purchase on Instagram over the last six months, and three times more likely to buy on Snapchat. (Source)
- Generation Z is the most likely generation to report expecting to return more than 75 percent of the goods they buy online. (Source)
- On average, all generations expect to return up to 25 percent of the goods they buy online. (Source)
Shipping and Delivery E-Commerce Statistics
Shipping and delivery policies and incentives have a huge impact on the buying decisions of shoppers.
The price of shipping, delivery timing, and the way businesses handle any issues that occur with these processes can cause a customer to stay with a brand or go elsewhere.
Therefore, it is important to understand what customers are looking for in the shipping and delivery e-commerce experience. The statistics below can help you shape or improve your own shipping and delivery policies.
- 79 percent of U.S. consumers said that free shipping would make them more likely to shop online. (Source)
- 42 percent and forty percent of U.S. consumers said same-day shipping and next-day shipping respectively would make them more likely to shop online. (Source)
- 40 percent of shoppers consider the post-purchase experience the most memorable part of the brand experience. (Source)
- 66 percent of shoppers consider the delivery method a decisive factor in the shopping experience. (Source)
- 43 percent of shoppers want retailers to reward their loyalty by personalizing the delivery experience. (Source)
- Two-thirds of customers will select a retailer based on the availability of delivery options. (Source)
- 51 percent of consumers want real-time visibility into the status of their orders. (Source)
- 64 percent of online shoppers expect orders placed before 5pm to qualify for next day delivery. (Source)
- 61 percent of online shoppers expect orders placed before 12pm to qualify for same day delivery. (Source)
- 38 percent of online shoppers opted out of buying if delivery is longer than a week. (Source)
E-Commerce Is Here To Stay
As customers around the world come to expect faster and quality service from retailers, online shopping will continue to rise in use. Many are actually preferring to shop for apparel, groceries, medicine, furniture, and other valuable goods online than in-store.
As a result, e-commerce store owners and marketers need to understand what consumers prioritize during the online shopping experience.
In addition to surveying your audiences, monitoring their buying habits, and taking complaints seriously, investing in a tool that allows you to create high-performing content to go along with your e-commerce products is also an essential step.
E-commerce stores will continue to grow in popularity. The owners and marketers that figure out ways to optimize and personalize the online shopping experience will win with consumers and beat out the competition.