The number of eCommerce businesses and revenue generated online continues to grow. There are numerous areas of eCommerce and lots of statistics that business leaders need to know.
So if you need direction to help you to improve your business, optimize your eCommerce elements or are looking to find some benchmark data, look below at some of the statistics we’ve collected. Guidance here will help you make key decisions and know when and where you might need to make improvements.
General eCommerce Statistics
- Online sales now account for 50% of all sales for most businesses.
- Over half (58.4%) of internet users buy a product or service online every week.
- Consumer electronics has the most spent on it online ($988.4 billion).
- With $904.5 billion spent on it annually, fashion is the second largest online category.
- China and the USA account for more than 60% of the total online retail sales.
- In 2022, online retail sales have amounted to $4.9 trillion worldwide.
- Between 2023 and 2027, online sales are expected to grow by $7.5 trillion.
- By 2040, about 95% of all sales will be made through an eCommerce system.
- 93.5% of internet users worldwide have made a purchase.
- The US eCommerce industry is growing at 23% year on year.
- The average conversion rate for an eCommerce website is about 2.5-3%.
- A UK consumer is 33% more likely to convert than a US consumer.
- A UK consumer is twice as likely to convert than an EU consumer.
- Social media has the lowest conversion rate (1%)
- Google search has the highest conversion rate (3.3%)
- 18% of local searches on Google will lead to a sale within 24 hours.
- 46.5% of small businesses convert more customers when they offer free shipping.
- Exit intent popups will convert 53% of consumers.
Consumer Behavior on eCommerce
- 61% of US consumers in the US have purchased because of a recommendation on a blog.
- About 55% of online shoppers will tell their friends and family when they’ve received a dissatisfying experience with a product, service or brand.
- Chatbots can help to improve sales, around 50% of consumers will purchase a Chatbot recommendation.
- Consumers prefer to use credit cards (53%). Other favored payment methods include digital payment systems (43%) and debit cards (38%).
- More than half of online consumers (57%) will purchase from a retailer based in another country.
- 60% of consumers will use self-service tools to help them solve a problem.
- A US consumer is less likely (75.5%) to abandon their cart compared to consumers in the UK (76%) and EU (82%).
- The main reason consumers will shop online is that they can shop at any time.
- Online shops have influenced approximately 56% of in-store purchases.
- 52% of consumers who buy their weekly groceries online will not return to buying in-store.
Amazon as an eCommerce Powerhouse
- About 59% of millennials will check Amazon before they go to another retailer.
- Amazon accounts for 50% of all eCommerce spending in the US (2022). This is 6% higher than in 2017 (44%).
- One in three Americans are Prime Members.
- Amazon Prime members tend to spend more than those who are not.
- Two out of five US consumers will receive up to two packages from Amazon weekly.
- More than half of consumers aged between 18 and 35 will receive at least one Amazon package per week.
Brands Performing Badly at eCommerce
- In 2021, a lack of personalization cost businesses an estimated $756 billion.
- A one-second delay on a website load speed can lose a website 7% revenue.
- Just under half (46%) of US small businesses do not have a website.
- There is no structured or documented conversion rate optimization strategy for over two-thirds of businesses (68%)
- 61% of consumers abandoned a purchase on a website because the website did not include any trust logos.
- Not-for-profit organizations lose out on an average of $15,000 a year because their emails land in a spam filter.
- Clothing has the worst abandonment rate (40%), followed by tech (18%) and then home products (16%).
Ecommerce Success Via Email
- About 61% of consumers prefer to receive marketing information via email.
- Email marketing ROI is 4400%, which is $44 revenue for every $1 spent.
- Segmented campaigns can help to improve revenues by 760%.
- Email marketing was responsible for 24% of holiday sales in 2018.
- Transactional emails are opened more than promotional content.
- Transactional emails make six times the revenue that other types of email make.
- About 45% of abandoned cart emails are opened.
- Nearly two-thirds (60%) of consumers have purchased because of an email marketing message they’ve read.
Social Media eCommerce
- About 25% of US consumers will speak to friends and family on social media before making a purchase.
- Those stores with a social media presence will generate 32% more stores than those brands that don’t have a social media presence.
- The average retailer will publish 4.55 pieces of content every week on Facebook.
- Nearly three-quarters (74%) of consumers rely on social media networks for making purchasing decisions. Relying on influencers and choosing a brand ambassador sounds like a good idea.
- Facebook is responsible for 85% of all online orders originating from social media networks.
- Publishing content with photos will generate 53% more likes and 104% more comments and improve click-through rates by 84%.
- Instagram has the highest order value when they refer a new customer with an average order value of $65. Facebook has the second highest ($55), Twitter the third ($46) and YouTube the fourth ($38).
- Published posts with fewer than 80 characters will get 66% more engagements.
Mobile eCommerce Statistics
- About 93% of millennials have completed an online purchase using a mobile device.
- Two-fifths of online purchases made during a holiday season are done on Smartphones.
- Product price comparisons are done by 65% of consumers using a mobile device.
- Nearly a third of consumers will change their mind about a purchase after checking a product via a mobile device.
- Conversions from mobile apps are 300% more than mobile websites.
Ecommerce is a growing trend that is not going to go away. Businesses can succeed and grow by understanding the trends, consumer behaviour and strategies. The above statistics can help you understand more about eCommerce and the potential direction you can take your brand in.