Have you been searching for the latest E-commerce Statistics & facts to aid in the growth of your online business? If you’re selling things online, you’ll need a basic understanding of E-commerce to keep an eye on your site and make any required modifications.
E-commerce is increasing fast, as seen by the facts in this article, with no signs of slowing down anytime soon. Please take what you’ve learned from the data and put it to use in your own small business. So, without further ado, here are the Latest E-commerce Statistics & Facts You Need to Know in 2023.
Table of Contents
- General E-commerce Statistics
- Email E-commerce Statistics 2023
- Social Media E-commerce Statistics 2023
- Mobile E-commerce Statistics 2023
- Shopping Cart E-commerce Statistics
- Conversion Rate Optimization Statistics
- Customer Service Statistics
- Search Engine Optimization (SEO) Statistics
- Shopping Traffic, Patterns, Behavior
- Payment Statistics
- Impacts of COVID-19 on E-commerce
- E-commerce FAQs
- Final Thoughts
General E-commerce Statistics
E-commerce is the electronic exchange of products and services over the internet, to put it simply. By 2022, yearly E-commerce sales are expected to exceed $5.42 trillion. These numbers support your belief that those who sell products online have a bright future.
- In the United States, 61% of internet shoppers have purchased based on blog recommendations.
- 59% of Millennials will go to Amazon first when it comes to online buying, making the large online retailer one of your most significant competitors.
- By 2040, it’s expected that E-commerce will account for 95% of all purchases.
- Amazon accounted for 44% of all U.S. E-commerce sales in 2017.
- When unhappy with a product or company, 55% of internet customers notify their friends and relatives.
- 93.5% of worldwide internet users have made online purchases.
- Conversational marketing has almost 50% of individuals saying they’d buy anything via a website’s chatbot.
- 76% of Americans prefer to go to an actual store for holiday shopping.
- Multi-step forms in WordPress may increase conversions by 300%.
- Even though the E-commerce market is increasing by 23% year over year, 46% of small companies in the United States still do not have a website.
- Credit cards are the primary mode of payment globally, accounting for 53% of all transactions, followed by digital payment systems (43%) and debit cards (4%).
- A conversion rate optimization (CRO) plan is not established or recorded in 68% of small organizations.
- 69% of B2B companies anticipate quitting producing catalogs within the next five years.
- Sellers that utilize Amazon’s AWS platform will get access to an AI-based, real-time product suggestion engine.
- At least one connected home gadget is owned by 32% of online buyers.
- Only 2.86% of visits to E-commerce websites result in a purchase.
- In the United States, 2 in 5 consumers (41%) get 1-2 Amazon deliveries every week, with the percentage rising to 50% for those aged 18 to 25 and 57% for those aged 26 to 35.
- People purchase online for various reasons, the most common of which is the ability to shop at any time of day.
- Businesses have wasted $756 billion in the last year due to inadequate E-commerce customization.
- For their worries, 6 out of 10 American buyers utilize self-service options like websites (24%), mobile applications (14%), voice response systems and VoIP (13%), or online live chat (12%).
- Overseas shops account for 57% of all internet purchases.
Email E-commerce Statistics 2023
Because email offers the best return on investment of any marketing campaign, it’s critical to use it to build your business online. It’s an excellent tool for generating leads and maintaining client connections. If you’re not currently utilizing email marketing, have a look at our list of the top email marketing services to pick one that suits your needs.
- The most important reason for the success of B2B E-commerce email marketing is that they give appealing content at each stage of the customer journey.
- Consumers prefer to be reached by companies via email, according to 61% of respondents.
- Email marketing generates $44 for every $1 spent, resulting in a 4400% return on investment.
- Welcome emails are sent by 58% of the top 1,000 US internet shops.
- Email subscriber-segmented marketing results in a 760% increase in income.
- During the 2020 holiday E-commerce season, email marketing accounted for 24% of all holiday purchases.
- Due to spam filters preventing fundraising campaign emails, nonprofits lose roughly $15k each year in donations.
- Transactional emails receive 8 times the number of opens and clicks as any other sort of email campaign and generate 6 times the revenue.
- Email marketing accounts for 20% of all traffic that leads to E-commerce transactions.
- 60% of consumers claim to have purchased due to receiving an email marketing communication.
- The average open rate for abandoned cart emails is 45%.
Social Media E-commerce Statistics 2023
If you integrate social media into your digital marketing plan, your company’s earnings will skyrocket. One of the most effective strategies is to take advantage of the tremendous psychological phenomena of social proof to generate more money online and expand your business.
Whether you like it or not on a personal level, social media is a digital communication strategy that needs to be considered whether you own an E-commerce website or any other type of online business.
- Before buying a present for friends and family, 25% of U.S. buyers browse social media. (nChannel)
- Online stores with a social media presence generate 32% more sales than those that don’t.
- The typical E-commerce site makes 4.55 updates every week on its Facebook page.
- Consumers rely on social media to make shopping decisions in 74% of cases.
- Facebook accounts for 85% of all social media orders.
- In 2021, the percentage of marketers that shared video content on LinkedIn increased to 65%.
- Posts containing photographs receive 53% more Likes, 104% more comments, and 84% greater click-through rates.
- After seeing an Instagram advertisement post, 75% of Instagram users took action, such as visiting a website.
- Customers recommended via Instagram had an average order value of $65.00, followed by Facebook ($55), Twitter ($46), and YouTube ($38).
- Posts on social media with 80 characters or less receive 66% greater attention.
Mobile E-commerce Statistics 2023
You should look at mobile optimization to have a successful E-commerce website. By neglecting mCommerce, you’re effectively ignoring the vast majority of your prospective clients. The following mobile E-commerce statistics should help you understand why.
- Using a mobile device, 93% of Millennials have compared internet deals.
- Cell phones account for 40% of all internet sales during the holiday season.
- While at a physical store, 65% of customers use their phones to search up pricing comparisons.
- After looking at product information on their mobile devices at a physical store, 32% of customers changed their minds about buying something.
- In the United States, 82% of Internet users have used a mobile device to purchase online.
- Mobile app conversion rates are 3x greater than mobile website conversion rates.
- 73% of customers will move from a poorly designed mobile site to one that allows them to buy more quickly.
- 53% of smartphone and tablet users will use company-specific applications to shop.
- People who have a bad experience with your mobile store are 62% less inclined to shop with you again.
- Apps account for 90% of the time spent on mobile devices.
- Making CTA buttons (such as a Click-To-Call button) can increase clicks by 45%.
- Mobile site bounce rates rise by 32% when page loading times increase from 1 to 3 seconds.
- In 2018, E-commerce sales surpassed $2 billion on both Black Friday and Cyber Monday, shattering prior records set the year before.
- Over email marketing, internet advertisements, and Facebook, people’s friends have the most significant mobile purchase decisions.
Shopping Cart E-commerce Statistics
For your clients, the online shopping basket is where a lot of the activity occurs. It’s the penultimate step before a purchase is made, and because it’s such a crucial part of your digital sales funnel, there have been hundreds of research on shopping cart E-commerce data. From these figures, one thing is sure cart abandonment impacts your bottom line.
- Offering free delivery raises revenues for 46.5% of small to mid-sized firms.
- If you have consumers create accounts during the checkout process, 23% of them will abandon their carts right away.
- The average cart abandonment rate is 69.89% across all industries.
- Exit-Intent popups have aided in the recovery of 53% of abandoned visitors.
- Slow-loading websites have a 75% desertion rate.
- Clothing has the most excellent desertion rate (40%), followed by tech (18%) and home items (14% to 16%).
- E-commerce sites may enhance conversion rates by 35% with an efficient checkout design.
- With an average abandonment rate of over 70%, E-commerce companies might lose up to $3 billion every year.
- The worst cart abandonment rate of all devices is on mobile, at 78%, followed by tablets (70%) and desktops/laptops (60% to 67%).
- Extra expenditures that are excessively expensive are the leading cause of shopping cart abandonment.
Conversion Rate Optimization Statistics
Higher conversion rate optimization (CRO), which is the proportion of website visitors that engage with your organization online and eventually buy items and services, may be achieved by optimizing your E-commerce website to provide a better experience.
- According to a poll conducted in 2021, the four most successful methods for raising conversion rates are digital analytics, A/B testing (comparing the performance of two distinct versions of a homepage or site), user-experience design, and focusing on copywriting.
- Nearly all CRO teams use A/B testing, and 38% compare the performance of more than two variations of a webpage.
- During one survey of prominent E-commerce websites, testers discovered 2,700 usability flaws while completing their orders. According to the study, changing the checkout design may raise conversion rates by 35% on average, resulting in the recovery of $260 billion in orders that would otherwise be lost.
Customer Service Statistics
With the advent of E-commerce comes an increase in online customer service, allowing businesses to accommodate higher online sales volumes without hiring additional employees. However, trained people will be required to answer consumers’ more difficult inquiries in many circumstances.
- In 2022, online customer service contacts are expected to increase by 40%, owing to the rise of online shopping and digital financial services.
- Despite the rise of A.I. and automation in customer service for chatbot discussions, automated replies, and self-service processes, 75% of customers prefer to connect with a live person.
- According to Forrester, the $8 billion rise in customer support agent spending in 2021 is primarily due to increased demand for highly experienced agents who can earn higher compensation.
- Consumers expect companies to promptly respond to queries or concerns posted on social media. In the United States, 31% of respondents anticipate a response in less than 24 hours, and 24% expect a response in less than an hour. Globally, the percentages are much higher, at 37% and 28%, respectively.
Search Engine Optimization (SEO) Statistics
The majority of buyers begin their search for things to buy on the internet. As a result, improving the SEO performance of your website is critical for increasing E-commerce sales.
- Consumers start their shopping excursions by perusing the results pages of internet search engines (SERP).
- As of January 2022, Google still has a 92% market dominance in the search engine business.
- The top result in Google’s organic search results has a 31.7% average click-through rate (CTR) and is 10 times more likely to earn a click than the tenth-placed page. CTR jumps by approximately 31% when you go up one slot in the search results, while just 0.78% of Google searchers click on a link on the second page of results.
- In early 2022, the average Google.com visitor spent more than 11 minutes on the site and read nearly nine pages.
- In the first quarter of 2022, the median CTR for sponsored Google search advertisements fell to 1.55%, down 44% from the first quarter of 2021.
Shopping Traffic, Patterns, Behavior
Even though a majority of all adult age groups in the United States currently shop online, younger individuals naturally, lead the way. Buyers are increasingly more comfortable purchasing higher-priced things online rather than in shops. Free return policies are popular with customers, but they may be costly for vendors.
- Digital purchases account for about 86% of millennials, compared to 78% of Generation X and around 61% of baby boomers.
- According to Yotpo, 68% of millennials and Generation Z (born between 1995 and 2010) feel customer evaluations are essential when making an online purchase, compared to 58% of all customers.
- What are the most popular internet purchases? According to a Yotpo study from July 2021, more respondents indicated they bought apparel and accessories online (85%) in the previous year than in any other category. Food and beverage (63%), cosmetics and skincare (52%), and home and garden (47%) were the following most popular categories (44%).
- Clothes and accessories were, unsurprisingly, the most commonly returned products. According to Yotpo, shoppers indicated fit difficulties (65%) were the most common reason for returning an item.
- In 2021, companies were expected to pay $550 billion in return charges. Customers return online products at a significantly greater rate than in-store sales; therefore, merchants must figure out how to reduce return costs as the volume grows.
- Even though a large number of families have acquired smart speakers, significantly fewer utilize them to make online purchases daily. In the United States, a projected 30.7 million individuals will use smart speakers for shopping in 2021, although only 22.7 million made at least one purchase through speech during the year. This accounts for 11.1% of all online shoppers. And the majority of those folks are merely experimenting – only 2% of customers utilize voice shopping regularly.
The majority of E-commerce purchases in the United States are still made with debit and credit cards, but the situation is different in other nations.
- In 2021, digital and mobile wallet payments accounted for 41.8% of total online transaction volume globally. Online wallets were the most popular in the Asia-Pacific area, accounting for more than 58% of all E-commerce transactions.
- Debit and credit cards were utilized for 82% of online purchases in the United States in 2021, and debit cards were used for 42% of all online purchases. At least one online payment mechanism, such as PayPal, Venmo, or Zelle, has been used by half of the American customers.
Impacts of COVID-19 on E-commerce
When the epidemic arrived, brick-and-mortar stores were forced to close, and buyers adopted social distance. E-commerce surged. Many customers who began shopping online at that time period may continue to do so in the future. Many things formerly purchased chiefly or exclusively in shops, such as food and home furnishings, saw a significant surge in E-commerce sales.
- According to Digital Commerce 360, the COVID-19-related rise in online purchasing led to an additional $174.9 billion in U.S. E-commerce sales in 2021, boosting E-commerce growth by two years.
- According to the Department of Commerce, internet sales increased 31.9% in the second quarter of 2020 when adjusted for seasonal fluctuation compared to the first quarter. Online sales increased by 44.5% year over year in the second quarter.
- Since the epidemic, consumers worldwide have increased their mobile purchasing, and the majority say they want to keep doing so in the future. According to a PwC poll, 60% and 58% of respondents in China and the Middle East are doing more shopping on their phones.
- According to one poll of over 200 businesses, COVID-19 caused around a fifth of brick-and-mortar stores to open internet sites.
- Food and drinks outperformed all other categories in terms of E-commerce sales. As customers experimented with novel methods to eat at home, market research firm eMarketer boosted its online food and beverage sales projection to $45.5 billion by 41.3% by 2022.
- According to the PwC poll, 63% of respondents indicated they were buying more food online or over the phone than they did before social distancing restrictions were implemented, and 86% said they would likely continue to do so when the limits are withdrawn.
- People spent more time at home and relied on online services for work, school, or recreation, according to eMarketer. Consumer electronics E-commerce sales in the United States soared, reaching an estimated $179.4 billion — about 20% higher than previously expected — as people spent more time at home and relied on online services for work, school, or recreation. Furniture and home goods sales increased to $92.3 billion, up to $15.5 billion over the pre-pandemic prediction, as people spent more time improving their homes.
- The pandemic’s impact on the travel sector, on the other hand, was devastating. In 2022, travel spending in the United States decreased by a historic 42%. Because most travel is booked online, eMarketer cut its forecast for 2020 E-commerce sales in the travel sector by over $100 billion, to only $115.3 billion.
- E-commerce is swiftly and steadily changing B2B and retail sales worldwide. Many companies rely on it for sales, especially in the aftermath of the COVID-19 epidemic. Keeping track of E-commerce data may help firms determine what customers are buying and how to enhance revenue.
Below are some most common questions people asked about E-commerce. If you have different questions let me know in the comment section.
How are today’s E-commerce numbers looking?
Retail online sales are rapidly increasing. In 2022, consumers spent more than $860 billion online with U.S. shops, up 44% from 2021.
What percentage of sales are made through E-commerce?
In the first quarter of 2022, E-commerce accounted for 14% of total retail sales in the United States. This represents an increase from 11.3% in the fourth quarter of 2021.
What are the internet buying statistics?
Online purchasing is becoming increasingly popular across the world. By 2023, E-commerce is expected to contribute more than $6.5 trillion in global sales, accounting for 22% of all global retail sales.
What is the size of the E-commerce industry?
Global retail E-commerce sales increased 27.6% in 2021, owing primarily to the COVID-19 epidemic, to a total of more than $4.2 trillion.
I hope the statistics about E-commerce above provided you with some helpful information. After all, looking for data-driven solutions to your marketing hypothesis is usually a brilliant idea.
Statistics are oversimplifications of only a part of the world we live in. It always changes when a new report comes. Make sure you bookmark this page if you don’t want to miss the latest E-commerce facts & statistics.
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