The future of eCommerce is looking very bright, based on collected stats from 2019 and 2020. It’s evident that more and more people are buying products and services online. That’s why many businesses, corporations, and small companies are now putting extra effort into their online stores.
The current Covid-19 pandemic situation is pushing businesses to go fully digital faster than ever before. Estimations say that businesses will completely switch over to online stores in the next 20 years. Don’t take our word for it, take a look at the stats below, and see what we mean. eCommerce is the future.
Interesting eCommerce Statistics
- 93.5% of global internet users have purchased products online.
- The eCommerce industry is growing 23% year-over-year.
- 25% of online stores on the internet are utilizing WooCommerce.
- Most popular eCommerce website in the United States is Amazon.
- 59% of Millennials will go to Amazon first when online shopping.
- Segmented email campaigns drive a 760% increase in revenue.
- Online stores with a social media presence have 32% more sales.
- Over 40% of all holiday shopping is now done on mobile.
- Free shipping increases profits for 46.5% of small to mid-sized businesses.
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eCommerce platforms and websites statistics
When we combine the earnings of all eCommerce platforms and the most popular online shopping websites, we can see that the numbers go up to a few billion dollars a year. WooCommerce has the most significant share of the market, followed by other eCommerce sites like eBay, Amazon, Craigslist, etc.
WooCommerce is leading the eCommerce market for small to large-sized online merchants, and rightfully so. First of all, it is free. Secondly, WooCommerce is an open-source plugin for WordPress websites. Since there are so many WordPress users who have their own online shops, WooCommerce is the perfect solution.
Here are a few interesting stats about how the eCommerce market looks like right now.
1. 25% of online stores on the internet are utilizing WooCommerce.
(Source: Builtwith stats)
According to statistics, WooCommerce is the most trusted online shopping platform, holding 25% of the entire market. Shopify is second with 19%, while Wix Stores has a 13% market share.
2. Most popular eCommerce websites in the United States 2020.
- Amazon – Estimated traffic 2.5 billion monthly visitors;
- eBay – Estimated traffic 940 million monthly visitors;
- Walmart – Estimated traffic 450 million monthly visitors;
- Craigslist – Estimated traffic 420 million monthly visitors; and
- Etsy – Estimated traffic 352 million monthly visitors.
These are the most popular eCommerce sites based on traffic volumes. No one is surprised by the fact that Amazon has the most monthly visitors since it’s one of the world’s biggest companies. It has more visitors than the following three websites combined.
General eCommerce statistics
The term eCommerce includes all purchases of products and services that take place online. As more and more businesses switch to digital platforms, online sales keep growing steadily every year. The eCommerce market is expected to generate over $4.5 trillion in 2021, and those numbers will continue to increase in the future. Check these stats and see for yourself:
3. 61% of online consumers in the US have made a purchase based on blog recommendations.
(Source: Content Marketing Institute)
The importance of blogs is becoming more evident as businesses that have blogs are seeing an increase in sales. Blogs provide a perfect way of informing customers about products and services, making it easier for them to shop with you. As you can see from the stats, bloggers can influence what people buy and who they buy it from. That being said, launching your own blog and recommending products that you personally find useful is also a great way of earning some extra income.
4. 59% of Millennials will go to Amazon first when online shopping.
Given that millennials represent the largest consumer base in the world at the moment, it only makes sense to leverage that. The rules of online shopping change with each generation. Most people born between 1981 and 1996 go to Amazon first to get more information about a product before making a purchase, making the giant online retailer one of your biggest competitors.
5. By 2040, 95% of all purchases will be through eCommerce.
According to Nasdaq, the way we buy products today will become a thing of the past by 2040. Their predictions say that almost all purchases will be made online 20 years from now.
6. 93.5% of global internet users have purchased products online.
About 60% of people in the world have internet access, and 9.3 out of 10 have made some purchases online. Musk’s Starlink project will surely boost these numbers substantially when it goes live.
7. The eCommerce industry is growing 23% year-over-year.
The need for eCommerce is quickly growing among the general population, but 46% of American small businesses still don’t have an online store. That will have to change soon.
8. The #1 reason people shop online is freedom to buy things 24/7.
Online shopping is much more convenient, as buyers don’t have to leave the comfort of their homes. Better yet, they can buy whatever they want no matter what time of the day it is.
Email eCommerce statistics
When compared to other marketing campaigns, Email has the highest ROI. It’s a critical tool for growing your online business. Email campaigns generate leads and allow you to create stronger bonds with customers. These campaigns play a significant role in generating sales. Here are some stats that show more details.
9. 61% of consumers prefer to be contacted by brands via email.
Everyone has an email address these days. Email is a digital version of standard mail services, and it’s the perfect way of spreading the word about new products and services. By informing your customers through email, you will see a significant increase in revenue.
10. Email marketing yields $44 for each $1 spent, for a 4400% ROI.
(Source: Campaign Monitor)
Email campaigns are generally more affordable than other marketing campaigns. The right email campaigns can quickly return your investment and increase your website’s ROI faster than any other method.
11. 58% of the top 1,000 US online retailers send welcome emails.
(Source: Smart Insights)
Welcome emails play an essential role in creating a healthy relationship with your customers. Something as simple as a welcome email strengthens the bond with customers, and most successful online retailers use this method to improve sales.
12. Segmented campaigns to email subscribers drive a 760% increase in revenue.
(Source: Campaign Monitor)
Segmentation is a critical factor for online success because it allows businesses to group customers based on information like purchase history, browsing activity, etc. This enables firms to tailor each email to specific groups, resulting in higher ROI.
13. Transactional emails get 8x more opens and make 6x the money.
When you approach your customers with personalized emails, they will feel like you really care about them and sincerely want to improve their quality of life. This approach has the most success when it comes to engaging customers comparing to any other email campaign.
14. Email marketing contributes to 20% of traffic driving eCommerce sales.
(Source: Wolfgang Digital)
1 out of 5 eCommerce sales is a result of well-placed email marketing campaigns. Personalized emails with the right information can drive more traffic to your website, leading to more sales and higher revenues.
15. 60% of consumers made a purchase as the result of an email marketing message they received.
The right email marketing campaigns are designed to get people interested in a product or a service. If everything is done right, people will want to see more about a product or service, which leads to more sales.
Successful online businesses use everything they can to increase sales, and social media marketing campaigns are one of the best ways to do that. Social networks provide a unique place where you can gain the social credibility you need to grow your business.
The stats below will prove this in practice.
16. Online stores with a social media presence have 32% more sales.
Online stores that invest in social media pages and build a strong presence across the most popular platforms like Instagram, Facebook, Twitter, and YouTube can boost their sales up to 32% compared to sites that don’t invest in social media marketing.
17. The average eCommerce site publishes 4.55 posts a week on their Facebook page.
eCommerce websites that use social media marketing campaigns publish between 4 and 5 posts every week. Consistency is critical if you want to build a strong relationship with customers and improve sales.
18. 74% of consumers rely on their social networks to help make purchasing decisions.
(Source: ODM Group)
Social networks provide a perfect place for people to learn more about a product or service. Reading through other people’s experiences and reviews can help customers make the right decision and potentially purchase something.
19. 85% of orders from social media sites come from Facebook.
Shopify is the second most successful eCommerce platform, and most of their social media orders come from Facebook. This social network is, by far, the most influential when it comes to boosting sales.
20. 75% of Instagram users visited a site after looking at an advertising post.
Instagram is primarily a visual social network that focuses on posting images and photos. Over the years, it has transformed into a handy tool for businesses that want to increase traffic and boost sales. It does a great job of redirecting users to business websites.
21. The average order value for customers referred from Instagram is $65.00.
While Facebook does wonders when it comes to getting orders, Instagram has a higher-order value. The average order on Instagram is $65 followed by Facebook ($55), Twitter ($46), and YouTube ($38).
Mobile eCommerce Statistics
Mobile optimization is one of the critical factors for any eCommerce website. Everyone has a smartphone these days, so it’s good to invest in mobile website optimization because that’s where you can find the most customers.
Here are a few stats that can back that up.
22. Over 40% of all holiday shopping is now done on mobile.
Most of us used to go on in-person shopping sprees during the holiday season, but things have changed in the past few years. Over 40% of all online purchases made during the holiday season are done on smartphones because it’s much more convenient.
23. 82% of Internet users in the United States have used a mobile device to shop online.
Naturally, since everyone has a smartphone, the number of mobile purchases keeps rising every year. 4 out of 5 people who use the internet in the US have made at least one online purchase using their smartphone.
24. 53% of smartphone and tablet owners will shop on company-specific apps.
(Source: Smart Insights)
The biggest and most successful companies like Amazon, eBay, Walmart, etc. provide a complimentary smartphone app designed to make the online shopping experience simpler.
25. eCommerce sales on Black Friday and Cyber Monday in 2018 were more than $2 billion.
(Source: Practical eCommerce)
Sales generated by online mobile shopping on Black Friday keep growing every year. This trend will likely continue, and it will soon surpass regular sales.
The online shopping cart has a lot to do with online sales. It’s the very last step customers go through before finally making a purchase. That makes it one of the essential steps in the sales funnel. With the right setup, you can minimize cart abandonment, one of the most significant challenges for online sellers.
26. Free shipping increases profits for 46.5% of small to mid-sized businesses.
Shipping cost is an element found in every online store. It’s no surprise that customers prefer making purchases in stores that provide free shipping. Today, nearly 50% of businesses offer free shipping for products all over the globe.
27. If you require account creation, 28% of people will abandon carts immediately.
Cart abandonment is a real issue, and complicated checkout processes usually cause it. You can minimize that percentage by making the checkout as quick and straightforward as possible.
28. Optimized checkout design can gain a 35% increase in conversion rates.
By optimizing the checkout process with things like free shipping and simple purchases, eCommerce websites can increase conversion rates up to 35%. Every detail can make a huge difference.
29. 2 out of 3 eCommerce websites lose money because of cart abandonment.
With the average cart abandonment rate at nearly 70%, eCommerce sites could be losing a lot of money per year. Those losses are estimated at around $3 billion a year globally, which shows the importance of optimizing the checkout process.
30. Mobile has the worst cart abandonment rate of all devices at 86%.
Mobile users are the ones that abandon the most carts, followed by tablets (81%), and desktops/laptops (73%). With better optimization and simpler checkout processes, these numbers should go down in the future.
31. The top 10 countries that are spending money online.
China – $672 billions per year.
United States – $340 billions per year.
United Kingdom – $99 billions per year.
Japan – $79 billions per year.
Germany – $73 billions per year.
France – $43 billions per year.
South Korea – $37 billions per year.
Canada – $30 billions per year.
Russia – $20 billions per year.
Brazil – $19 billions per year.
As you can see, some countries make hundreds of billions of dollars in online revenue. China is the current leader with $672 billion, followed by the US at $340, and the UK with $99. All other countries spend less than $100 billion in online stores.
32. 44% of internet retail minutes were spent on mobile.
The time spent in online shops is currently an even split between mobile users and desktop users. Both take up to 45% of the total time spent in online stores, while tablet users take up only 11%.
33. 1 out of 3 users will buy a product within five days of a Google search.
Statistics on retail eCommerce sales worldwide show that more than a third of users turn to Google to find out more about a product or a service.
All of the statistics above agree in one thing – the importance of eCommerce platforms. The world has reached a point where most businesses have a strong online presence. It’s only logical that eCommerce platforms keep growing year after year.
If you’re still looking to boost your sales and grow your business, investing in an online store is almost certainly the best investment you can make. Pretty soon, there won’t be any physical stores and shops where you can buy products directly. The faster you make the switch, the sooner your business will grow.