E-commerce is the act of purchasing and selling goods and services on the internet. Customers can use electronic payment methods to buy from online sites and stores online. Many retailers use an online platform to oversee all activities associated with online sales.
Being an owner of an online business is now a popular method to earn money. E-commerce has been in existence since Amazon began publishing books during the late 1990s However, it has exploded in the last couple of years.
Read on for more information about e-commerce statistics and make use of the information to evaluate how you can improve your business workflow.
Global statistics on e-commerce
Global e-commerce involves the purchase of services or goods outside the borders of geopolitics within the country of origin of a business commonly known as the location of its incorporation or formation. Sales and marketing can be used to market and sell products in markets outside of the native market.
Below is a listing of the most important online statistics that show what this digital world has altered shopping experience for shoppers in traditional retail stores.
- The global sales of e-commerce reached an astounding $4.9 trillion as of 2021. The number is predicted to reach $6.4 trillion by 2024.
- The year 2021 was the one in which 2.14 billion users across the world made online purchases.
- Markets for on-line grocery could reach $334 billion by 2025.
- In 2025, the world’s marketplace for online clothing will hit $1.002 trillion.
- Customers say that free shipping boosts their desire to shop online by 49%..
- 77% of online buyers review products prior to making a decision.
- 54.8 percent of all e-commerce transactions in 2021 were conducted through mobile devices.
- The conversion rate for e-commerce is about 2.58 percent.
$6.3 trillion
is the estimated size of the global market for e-commerce by 2023. That amount is expected to be $8 trillion by 2026.
Source: Statista
- The Argentine electronic retail market is expected to expand by over 25%, surpassing the growth of the other American nations.
- At $1.8 trillion dollars of revenue, Asia is at the top of the list when it comes to e-commerce.
- The year 2023 is when China will have $43.67 million revenue lead in the world online marketplace for footwear.
- Between 2023 and 2027 Brazil is expected to lead the world in the development of online retail.
The most important e-commerce statistics of any company
E-commerce is a fast-growing business that has changed the way people buy and sell goods on the internet. Although many consumers associate the term “e-commerce” with buying things but it also refers to the entire range of business transactions made possible through the Internet. E-commerce has grown because of the growth of brick-and-mortar shops like Target as well as Best Buy and globally recognized marketplaces that operate on the digitally native business model, like Amazon as well as Alibaba.
Let’s look into more information about the biggest e-commerce firms to understand how they are advancing within their respective industries.
- By 2022 Alibaba Group ranked as the most popular retailer worldwide online.
- A majority of shoppers on the internet have confirmed conducting business internationally.
- For companies selling e-commerce, Facebook advertising has an average conversion rate of 9.21 percent.
- After viewing a video advertisement viewers on YouTube will be 1.9 percentage more likely purchase.
- In 2021 55% of internet buyers reported that they had purchased something after viewing it in the form of a Facebook Story.
37.8%
is the market share of e-commerce that is owned by Amazon within the US.
Source: Forbes
- In comparison to users who are directed via an outside website, Instagram Checkout users are more likely by 70% to complete their transactions.
- For online retailers for example, marketers selling on e-commerce “TrueView to Shop” advertising style on YouTube has seen three times the increase of conversion rate.
- The online sales of Walmart in the US reached $64.9 billion by 2021.
Mobile e-commerce statistics
Businesses that sell online have been improving customer experience on mobile devices for a long time to boost sales on their websites. Any transaction that is completed using the mobile phone is known as mobile commerce or mcommerce. It is convenient to use and is one of reasons behind the rise. Consumers can shop for items and services traveling.
The following statistics demonstrate how easy online business is now made possible by smartphones.
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- 91% of smartphone users are using smartphones to conduct transactions online,
- In 2023, we expect that 6 percent of retail sales will be made through mobile commerce.
- A staggering $360 billion of revenue was generated through mobile commerce in 2021.
- In 2026, tablet-based mobile commerce revenue is expected to be $54.01 billion.
- In 2025, mobile commerce sales will be $710 billion in total revenue.
- 8.7 percent from all US retail transactions by 2026 will be conducted on mobile devices.
$431 billion
The revenue came from sales of mobile phones at retail in 2022.
Source: Adobe Analytics
- In 2021, one out of three American internet users will have made an order using their mobile devices.
- The day of Cyber Monday, in the year 2017, smartphone sales more than $2 billion for first time in history.
- Comparatively to email marketing as well as online advertisements as well as Facebook, users’ friends are the biggest influence on their purchase decisions made via mobile.
- In the creation of CTA buttons, like the click-to-call button can increase clicks by as much as 45 percent.
- 73% of customers will leave the mobile website which is not well-designed to one that allows purchases.
- Mobile apps have 3 times higher conversion rate, as compared to mobile-friendly websites.
- In a physical shop the majority of shoppers make use of mobile phones to shop around.
- The holiday season is when smartphones account for 40 percent of all sales on the internet.
- Mobile websites’ bounce rates rise by 32% if the loading time of a page is one to three seconds.
Retail e-commerce statistics
Purchases made on retail stores using a variety of devices have been increasing annually which is fueling the sector’s rapid expansion. As it grows, it could eventually replace retail stores.
Let’s take a look at these figures to know more about the status of e-commerce retail.
- The sales from e-commerce accounted for 21.3 percent of retail sales in 2021.
- Mobile users made $3.56 trillion in online retail purchases by 2021.
- Online retail sales were $4.9 trillion in the world. Over the next four years, the market is expected to grow by over 50%..
- The categories of consumer electronics ($988.4 billion) and fashion ($904.5 billion) are the most popular spending categories.
- Some companies say they have physical stores whose sales are approximately similar to sales on the internet.
20%
of the retail purchase will be done on the internet in 2023.
Source: Shopify
- The online sales market is expected to make up 16.4 percent of all retail revenues in the US in 2023.
- In 2026, there will be a growth of 24% in the number of online purchases.
Consumer behavior statistics
The shift in the buying experience of customers from in-person shopping to online shopping is the hallmark of this new retail era. The loyalty of customers has waned as consumers switch brands at an unprecedented rate. These numbers reflect recent shifts in consumer behavior.
- 63% of people search on the internet for products prior to making a purchase.
- Customers tend to purchase brands that offer personalised shopping experiences (84 percent).
- More than 50% of internet customers have followed an social media expert’s recommendation prior to making an purchase.
77%
Many customers read reviews before making a purchase online.
Source: BrightLocal
- More than a third of US customers (36 percent) had tried out a brand new brand or brand and this brings the total number of brand new buying habits they’ve attempted to reach 75 percent.
- If a consumer tried an alternative brand 73% said they’d continue to search for new brands.
- After the pandemic, people are more likely to shop online. has grown, especially in essentials and entertainment for the home.
- 46% of shoppers bought online during the Christmas season of 2021.
- A majority of people between the ages of 18 and 24 old, and 47.5 percent of those aged 14-17 have purchased at least one item through the social platform
- Localized content can increase the likelihood of a website’s capacity to bring in sales by 2.67 times.
- Facebook is at the top of the list of the most well-known social media websites in social commerce.
- As high as 49 percent of social purchase decisions made by shoppers were influenced by influencers.
The social media and e-commerce data
The social media as well as e-commerce compliment one similar to espresso and cream. E-commerce marketing professionals utilize social media websites to increase brand recognition, communicate with their customers and to promote products with targeted ads and natural posts.
The following statistics illustrate the important significance social media is playing in e-commerce the present digital age.
- 25 25% of US users use social media prior to purchasing a gift for their loved ones and friends.
- Sales rise by three times the amount when a shop has an active social media presence as opposed to the case when it doesn’t.
- Instagram is the leader with an average amount of $65 The next top contender is Facebook at $55 Twitter with $46 and YouTube making $38.
- Social media engagement is up by 66% when posts are that are less than 80 characters.
- After watching an Instagram advertisement 75 percent of Instagram users have performed an action like going to the website.
- Photos on posts can increase comments, likes, and click-throughs by 53 percent, 104% and 84%respectively.
- In the Christmas e-commerce period of 2018 24% of Christmas sales were attributed via email marketing.
- 60 percent of customers claim to purchased something after they received an email marketing message.
- The emails about abandoned carts usually contain an open rate of 45.
- 61% of consumers prefer interacting with brands via email.
Sources:
- Search Logistics
- Weforum.org
- Business News Daily
- WPForms
- Forbes Insights
- Practical E-commerce
- Outer Box
- GlobalWebIndex
- Jungle Scout Report
- Epsilon
- E-commerce Guide
Convenience is getting better
The ease of online shopping has changed shopping for both customers and sellers. You can shop for almost everything, at any time, with any device. It’s an integral part of the online shopping experience that customers today demand.
E-commerce can open up a new set of customer data and data for businesses.. A reliable online platform will collect data from customers who purchase online which allows businesses better acquainted with their customers and help them take decisions on marketing and even product development which have an actual impact.