The United Arab Emirates were until 2015 the leading growth market for e-commerce in the Gulf Cooperation Council region. Mobile Phones and Internet Usage Statistics 1. But more important than what it is, is what it isn’t. But creating stunning …. There are between 95 to 100 million Amazon Prime members currently active on the platform. Most of them scroll down Instagram for inspiration. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. (, TikTok users can add ecommerce links in their biography. The Key Takeaway: Ensure your website loads fast – super fast. 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. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. To learn more, read: Social Proof: What It Is and Why It’s Great for Marketing. E-commerce industry helps to build brand image of a company and increases visibility of products on a global scale. Free shipping is the most important factor for consumers when choosing a retailer. From 1,888 interviewed U.S online consumers, around 40% said that the reason why they didn’t make a purchase was because it wouldn’t arrive on time. The Key Takeaway: Businesses that can create a seamless, personalized omnichannel experience for customers will own the future of commerce. The E-Commerce Statistics (E-STATS) report is conducted by the United States Census Bureau to measure the value of goods and services sold online. Source:eMarketer. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. The Key Takeaway: Optimize your checkout process to reduce as many of those abandoned carts as possible. Optimize your website to instill trust in visitors quickly. Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. This strategy involves not only having multiple channels but integrating them seamlessly and tracking individual customer interactions across the channels. For more help, read How Much Does it Cost to Start a Dropshipping Store? 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. Annually, more than $1 trillion in federal funds are distributed t… Absolunet 10 Ecommerce Trends in 2019 found that social buying is on the rise. … E-Commerce Statistics and Market Data about E-commerce This page provides statistics, facts and market data related to electronic commerce (e-commerce). They’ve done their research and decided to purchase your product. Around 55% of them bought products from other marketplaces. Social Media eCommerce 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. But this could lead to shoppers abandoning their carts. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. Ecommerce Statistic #12: Unexpected extra cost is the number one reason shoppers abandon carts. Ensure you provide your customers with a stellar customer experience from start to finish. It may have taken you weeks of Facebook advertising and retargeting to entice these people to your website. Of course, not all personalization is … (. Let's take a look at the numbers backing today's top B2B trends. While fast shipping is in great demand, high spend for it isn’t. Ecommerce Statistic #17: Users who have a negative experience on a mobile website are 62 percent less likely to purchase from that business in the future. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." Since mcommerce requires two things - namely having internet access and a mobile device - let’s see what the numbers say about these two essential aspects of mcommerce. Competitive prices and free shipping are the two most important factors for online shoppers when choosing a retailer during the holidays. 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. This invaluable data is what will help you make strategic decisions that’ll help you grow your business even further. To put it more precisely, China has 54.7% of the global market share. E-commerce data were collected in four separate Census Bureau surveys. (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. And what’s coming in 2020? Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. 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. This means they’re often able to provide lower prices for customers. By 2020, the m-commerce sales from smartphones will see a growth of 31.5% and generate nearly $270 billion. UK eCommerce statistics have predicted that by 2020, the value of goods purchased online and picked up in retail locations across the country will increase by 78%. This means they sell to and communicate with customers through multiple channels. Why You Desperately Need a Defined Target Market and Target Audience. For more help, read: How to Create a Great Product Page. The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. Still, it’s important to choose a theme that works particularly well on mobile devices. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. Aside from measuring ROI (Return on investment), companies should also start measuring ROX (return on experience) and determine how an increase in customer satisfaction scales their businesses. The Asia-Pacific region is the fastest growing ecommerce region in the world. 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). The Key Takeaway: Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. The data from We Are … Let's take a look at the numbers backing today's top B2B trends. It is expected that mobile commerce will take a market share of ecommerce of 72.9% by 2021. Some of that research is outdated, and some of it isn’t very good. Resize your images to improve your website’s load speed. 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. This makes sense when you consider the high level of buyer intent shoppers have when they add products to their cart. The Key Takeaway: Ensure your website is optimized for mobile devices. Make sure you have an email campaign to automatically follow up abandoned carts. Start a business and design the life you want – all in one place. This will instill trust and help shoppers with their research. To learn how check out: The Beginner’s Guide to Boosting Sales With Google Shopping Ads. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. That's why we’ve gathered the top 45 ecommerce statistics that you need to know. 1 in 4 companies is selling items via Facebook. Omnichannel Explained: Why You Need It and 3 Killer Examples. Ecommerce Statistic #9: Consumers are most likely to trust a business that makes it easy to contact people at the company. Luckily for us, e-commerce is widely studied, so there’s a ton of research about it. (Shopify Plus, 2019) Consumers spent $601.75 billion online with U.S. merchants in 2019, which is up 14.9% in 2018. 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. Oberlo uses cookies to provide necessary site functionality and improve your experience. Ecommerce websites that load slowly see shopping cart abandonment of 75%. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Based on the latest ecommerce numbers, the internet penetration in the UAE stands at 99%. Big data plays a big role in creating personalized experiences. 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. By using our website, you agree to our privacy policy. The results released based on these data collections are often called statistics. There will be over 2 BILLION online customers by 2020. Its goal is to measure the electric economy in particular and excludes companies with physical storefronts as long as they do not primarily fill e-commerce orders from their stores. Please refer to the Latest Quarterly E-Commerce Report for revised time series data. Done right, customers should look forward to purchasing from your business again in the future. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. With over $1.935 trillion in ecommerce sales, China was the biggest ecommerce market in the world in 2019. Statistics on " E-commerce in France " The most important statistics. Remember, the ability to research purchases is one of the key reasons people shop online instead of in-store. In other words, ecommerce is slowly taking over. When applied, the strategic takeaways from these 19 ecommerce statistics have the power to supercharge your online business. Thankfully, there are numerous ways businesses can take advantage of social proof. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. To learn how to capture the attention of consumers, read: How to Create a Killer Facebook Ad Design for Your Ecommerce Store. U.S. E-Commerce statistics compiled from press releases, earnings reports and Marketplace Pulse data. however they come into contact with your business. Around 51% of online shoppers conduct purchases via their smartphones. In comparison, according to MailChimp, the average email open rate for ecommerce businesses is just 15.66 percent. COVID-19 is affecting many ecommerce businesses and how consumers shop online. Other key reasons include the ability to compare prices (54 percent), lower prices (46 percent), to save time, and the convenience of not having to go out shopping. The information and data we produce shape fiscal and monetary policy and operational decisions that improve the nation’s social and economic conditions. This site features recent and upcoming releases, information on methodology, and background papers. What’s more, even when you have relevant, accurate statistics, it can be difficult to quickly extract effective strategic insights. Businesses without websites should set up an online store asap. Virtually every social media platform is a good platform for eCommerce activity and more are taking up the mantle. High shipping costs are the #1 reason for cart abandonment. Plus, we also provide killer resources to help you implement these strategies today. Understanding the scope of e-commerce is important, as is understanding its many nuances. The number one reason why consumers decide to shop on a marketplace instead at a retailer is the price tag. Ecommerce Statistic #5: 65 percent of shoppers look up price comparisons on their mobile device while in a physical store. Source: Digital Commerce 360, Delivery time is important to online shoppers. Why Nobody Is Buying From Your Store – And What You Can Do About It, Help! Source: eMarketer. This post is part of our Ecommerce Stats series. The … The Key Takeaway: For the sake of customer retention, it’s vital you provide a fantastic mobile shopping experience. To gain inspiration, check out: Blog Design Inspiration: 20 Designs to Help You Start Your Blog. or display positive reviews and testimonials to build trust. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. Source: Digital Commerce 360. Create an email campaign to automatically follow up abandoned carts. How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. The Key Takeaway: Ensure you provide your customers with a stellar customer experience from start to finish. Sure, it might be tempting to reduce your prices to entice customers to buy, and then increase your shipping fees to make up for it. 59% of Millennials will go to Amazon first when online shopping. Many of the statistics touted online can be at best outdated, and at worst wildly inaccurate. Spending on B2B e-commerce platform technologies, systems and services continue at a pace over 2X the B2C e-Commerce market. 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. Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. In the U.S. alone, online shopping already accounts for 10% of retail sales and is expected to grow at a year-on-year rate of 15%. 10 Key Email Marketing Stats: 2020 Edition, 10 Key Mobile Commerce Stats and Trends: 2020 Edition. For help, check out How to Start a Business in 2020. DigitalCommerce 360 made a survey on customer behaviour in 2019. The eCommerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website. 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