According to mobile e-commerce stats, 2019 is the year of mobile commerce. eMarketer estimates the 2019 US food and beverage e-commerce market at $19.89 billion. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. Roughly speaking, this means that only 1 in 34 website visitors actually buys something. This is a psychological phenomenon often referred to as “social proof.”. And ensure customer service representatives are easily accessible. Why You Desperately Need a Defined Target Market and Target Audience. 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. For this reason, the strategy requires organization and the integration of new technologies. One way to do this is to set up a Facebook Shop. Rely on our Market Intelligence platform to get the latest trends on the E-Commerce Industry and anticipate the future of the sector. DigitalCommerce 360 made a survey on customer behaviour in 2019. Total Retail Growth Rate Calculated by comparing U.S. Total Retail Sales values to the year before. The Key Takeaway: Advertise your products where shoppers who look up price comparisons will see them. But creating stunning …. This ecommerce statistic hammers home how important mobile commerce is. 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 … We are independently owned and the opinions expressed here are our own. In other words, a small increase in your online store’s conversion rate can massively increase profits. Optimize your website to instill trust in visitors quickly. 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. The results released based on these data collections are often called statistics. This post is part of our Ecommerce Stats series. 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. Customer-centric companies experience … Plus, you should make sure to view your website on many different types of device to ensure it looks great however shoppers access it. Why Nobody Is Buying From Your Store – And What You Can Do About It, Help! Worldwide ecommerce sales … I Have Lots of “Add to Carts” But No Conversions. Global ecommerce statistics in 2018 show 75% of customers admitted they use social media as part of the buying process. This statistic clearly shows how ecommerce is becoming a more and more important part of global commerce. But more important than what it is, is what it isn’t. Omnichannel Explained: Why You Need It and 3 Killer Examples. To learn how check out: The Beginner’s Guide to Boosting Sales With Google Shopping Ads. Free shipping is the most important factor for consumers when choosing a retailer. To learn how check out: Customer Retention: 10 Tips to Keep Your Customers Coming Back. We tested and reviewed the services reviewed here. These statistics are available for the nation from 1998.. 68% of interviewed participants said that they check whether a product is available in a local brick-and-mortar shop. E-commerce data were collected in four separate Census Bureau surveys. In 2019, ecommerce was responsible for around $3.5 trillion in sales and is expected to hit $4.9 trillion by 2021. 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. There will be over 2 BILLION online customers by 2020. Well, without the costs of maintaining a physical store and large inventory, ecommerce dropshipping businesses are able to keep overheads low. Optimize your customer experience for convenience – one way you can do this is to set up a Facebook Shop. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. In just over 30 years from now, by 2040, 95% of all consumer purchases are projected to be online. The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. And nowadays people will reach out through Facebook if they have questions. Source: Digital Commerce 360, Delivery time is important to online shoppers. Remember, Google is by far the largest search engine and many shoppers will use it to quickly compare prices. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? This strategy involves not only having multiple channels but integrating them seamlessly and tracking individual customer interactions across the channels. To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to them. Shopping Cart eCommerce Statistics How Many eCommerce Sites Are There in 2020? So when we talk about the ecommerce figures as a percentage of the internet users in the country, we are taking into account nearly the entire population of the country. 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. Pay close attention to your website’s conversion rate and consistently work to increase it. Around 20% of them reported that they didn’t order a product because the delivery date was not precise. e-retail sales accounting for 14.1% of all retail sales, ecommerce continues to grow at a speedy rate. This social media titan has more than 1 billion monthly active users. The eCommerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website. Around 53% of online shoppers left a review on Amazon. After going through the entire checkout process, they’re confronted with a bunch of extra costs for shipping and taxes. E-commerce platforms help to reduce product distribution, retrieval, and other costs, and increase digitization in the E-commerce sector. Thankfully, there are numerous ways businesses can take advantage of social proof. And to effectively build trust, check out: 9 Ways to Boost Sales by Making Your Store More Trustworthy. Done right, customers should look forward to purchasing from your business again in the future. 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. 56% of the world’s population has internet access. This means they’re often able to provide lower prices for customers. Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will double your sales. Ecommerce Statistic #6: 81 percent of consumers conduct online research before making a purchase online. (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. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. 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. Given that millennials represent the … So it’s likely that most of your customers will be accessing your website from a mobile device. Ecommerce Statistic #18: Longer mobile page load times drastically increase bounces. 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. Reasons like convenience and cost-savings are prompting people to adapt ecommerce, while fact… Virtually every social media platform is a good platform for eCommerce activity and more are taking up the mantle. Ecommerce Statistic #7: 81 percent of consumers trust the advice of friends and family over businesses. Build strong relationships with customers and make hands-on customer service a priority. This also means providing fast shipping and hassle-free returns. Define a clear target market that you cater to. Please refer to the Latest Quarterly E-Commerce Report for revised time series data. Absolunet 10 Ecommerce Trends in 2019 found that social buying is on the rise. This can make a huge difference to your bottom line. General Ecommerce Market Statistics. Now, let’s jump to those mind-blowing statistics about mobile commerce. Ecommerce statistics: Amazon. The Asia-Pacific region is the fastest growing ecommerce region in the world. This site features recent and upcoming releases, information on methodology, and background papers. Global ecommerce is not a luxury. China’s market size is twice the size of the US one in 2017. The average shopping cart abandonment rate is around 68.8%. 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. Create an email campaign to automatically follow up abandoned carts.  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. E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). However, it’s worth noting that different demographics interact with online commerce differently. 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. This number was at 1.32 billion in 2014 and is estimated to reach 2.14 billion by 2021. E-commerce industry helps organizations to provide better customer service and experience. or display positive reviews and testimonials to build trust. If these numbers make you … Spending on B2B e-commerce platform technologies, systems and services continue at a pace over 2X the B2C e-Commerce market. Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade. In 2019, E-Commerce Sales Accounted for 14.1 Percent of All Retail Sales Worldwide (Statista) Considering that more than a tenth of all retail sales are made online, you can’t underestimate the importance of continuously optimizing your online store. Some of that research is outdated, and some of it isn’t very good. For more help, read: How to Create a Great Product Page. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. Avoid springing high fees on customers during the checkout process and consider offering free shipping. The Key Takeaway: With more and more people shopping online each year, there’s never been a better time to start an online store. Social media continues to be a dominant force in the eCommerce sphere. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. The number one reason why consumers decide to shop on a marketplace instead at a retailer is the price tag. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023. In 2017, ecommerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021. The longer the load time, the higher the bounce rate: Speed matters – people won’t wait around if your website is slow to load. Around 21% of online shoppers decided to abandon their shopping cart because the process was too complicated. Three of the six largest ecommerce markets are in Western Europe. In 2021, there will be more than 2.14 billion digital buyers worldwide, up from 1.66 billion in 2016. There are between 95 to 100 million Amazon Prime members currently active on the platform. 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. 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. You already know that, but when you see some of the numbers, you’ll find they’re jaw-dropping. Ecommerce Statistic #8: 80 percent of people stop doing business with a company because of poor customer experience. Big data plays a big role in creating personalized experiences. 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]. Make the checkout process short, fast, and easy. About the Report.  Social Media Influence E-Commerce Data Data are facts on people, places and business collected in censuses and surveys and through administrative records (e.g., birth certificates). Thankfully, there are numerous ways businesses can take advantage of social proof. E-Commerce Statistics (E-STATS) Welcome to E-Stats, the U.S. Census Bureau's Internet site devoted exclusively to "Measuring the Electronic Economy." In fact, the probability of a user bouncing off a mobile webpage increases by 32 percent when the page takes between one and three seconds to load (compared to pages that load in under one second). The Beginner’s Guide to Boosting Sales With Google Shopping Ads. By 2021, world’s m-commerce sales will make up for 53.9% of all e-commerce sales. 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. Online shoppers are more likely to abandon their shopping cart if businesses require them to make an account. With e-retail sales accounting for 14.1% of all retail sales worldwide, ecommerce continues to grow at a speedy rate despite global economic uncertainty. Understanding the scope of e-commerce is important, as is understanding its many nuances. Institute of Grocery Distribution says online grocery sales in 2018 were approximately $23.9 billion. Gen Z and Millenials are most likely to make a purchase influenced by social media. 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