By 2025, researchers predict eCommerce retail statistics to reach about $7.4 trillion from $4.9 trillion U.S. dollars in 2021. In the next few years, such numbers can go up about 50% to approximately $7.4 trillion by 2025.
In the world we live in today, eCommerce slowly becomes the center of focus for many. Online shopping platforms are the most efficient form of shopping medium because one can get to their desired product a click away.
For digital marketers, it gets crucial to stay updated with the changing E-Commerce statistics. It helps them make their platforms better user-friendly, and more effective. You can find a few vital factors about the topic below.
Top eCommerce Statistics
19 Online Transactions Per Year for an Average Shopper
An average person with regular shopping habits also makes about 19 online transactions annually. However, this is a rough estimate because it varies from country to country. In China, for instance, consumers make 22 transactions online.
12 and 24 Million Online Stores
Many stores online now range from small, home-based ones to long-established ones. For this reason, it can get hard to put an exact number to them. A rough estimate is that there exist about 12 and 24 million online stores. Out of the many millions, Amazon detected a growth of about 3.68 billion visitors per month in 2020. Such numbers marked it as one of the top online retailing platforms worldwide.
These numbers only increase daily, with a predicted value of about 3.68 billion monthly visitors in 2020. One of the many reasons for the splurge was the COVID-19 pandemic which forced people to think of new ways to earn online. It also increased the available clientele, even for websites such as eBay, with an audience of about 1.01 billion visitors.
53% of People Say Free Shipping is the Top Reason They Shop Online
Digital Marketers must also stay fully informed of why someone would choose a platform over others. In a survey, 53% of people claimed that they have never passed on ordering and choose to shop online because shipping was free. What was surprising was that other reasons like discounts, an easy payback service, and customer reviews came after.
eCommerce Statistics Trends Seen Globally
China, the U.S., and the UK––Top Three eCommerce Markets
Since China has more average online transactions for every person, it ranks first on the list displaying eCommerce markets.
In 2021, China produced about $2,779.31 billion through sales using eCommerce.
The United States marks itself a place after China, selling about, amongst the top three, with a sale of about $169.02 billion in sales.
In 2020, Argentina showed the fastest eCommerce growth 2020 by upping their online game and adding a massive increase of 100.6% in online sales.
Unfortunately, the UK could not clear the charts with an estimated total of 46.5% sales. However, Canada produced a handsome percentage of 75% uphill.
Do Younger Consumers Shop Online More Than Older Generations?
Around 38.4% of people in the US shop online rank under the age 35 category.
Surprisingly, Millennials (those born between 1981 to 1996) form the largest group of online shoppers. Just 14.4% exist about the age of 65. Perhaps the fast-paced dynamic of online shopping attracts the young more.
Do Companies Face Abandoned Carts Because of Expensive Fees?
Abandoned carts can become a real setback for companies wishing to increase their sales. One of the top reasons people abandon carts shown through date is the extra fees. These charges could include shipping costs, tax, and other amounts added to the total at checkout. Therefore, digital marketers must realize the damage caused due to unnecessarily long checkout processes. These pertain to policies asking the customers to spare time and make an account before purchase. The slowed-down process denies the idea of online shopping, which is more swift.
Boosting eCommerce Through Bots and Automation
When executed correctly, having a chatbot or other ways of introducing artificial intelligence can help boost a company’s eCommerce process.
Through the system, generic questions can get catered to in much less time. Studies show that sales increase by about 50% with an installed website’s chatbot because many prefer shopping through conversational marketing.
Last Thoughts
As one can already tell, media can become the most powerful tool for mass communication and brand promotion if done correctly and through suitable means.