Are you curious about the state of the ecommerce industry?
The shift to online shopping has picked up in speed in recent years and that growth is only set to continue.
But as the ecommerce industry continues to grow, it’s also becoming far more competitive. This is why you need data to help you understand current trends.
In this post, we’re taking a deep dive into all of the ecommerce statistics and trends that you need to know.
Let’s get started:
Ecommerce statistics – Editor’s picks
- 65% of consumers expect to use digital shopping channels more in the future. (Wunderman Thompson)
- Ecommerce sales are expected to reach $6.3 trillion by 2024. (Statista)
- Shopify is the ecommerce platform with the largest distribution. (Built With)
First, let’s discuss some general ecommerce usage statistics that every entrepreneur and marketer should know right now. These statistics will give you a better sense of how consumers in the United States look at online businesses at this time.
US consumers spent $791.7 billion online in 2020.
Consumers are willing to shop online more than you might think. In 2020, consumers spent $791.7 billion with US merchants. That’s according to the US Department of Commerce. This is the highest annual US ecommerce growth recorded in the past two decades.
We should also point out that this is a 15.1% jump from 2019’s numbers.
Online shopping during the pandemic saw an additional $105.47 billion in ecommerce revenue in 2020. This only shows that even the pandemic wasn’t enough to prevent people from shopping online.
Source: Digital Commerce 360
The BOPIS model is gaining traction.
The Buy Online Pickup In-Store (BOPIS) model is slowly gaining traction with 68% of US consumers making multiple click-and-collect purchases. 50% of shoppers also added that they choose where to buy online based on whether or not they could pick up their orders in-store.
There are multiple reasons why some people like this model. 48% cited shipping costs as their primary reason for liking BOPIS. With BOPIS, they avoid having to pay for shipping. 39% like it because it’s faster than having to wait for orders to arrive. 28% said they like the convenience of it.
It’s also good for businesses. 85% of shoppers said that they’ve made additional purchases when they went to the store to pick up their orders.
If you’re just starting a business, you should absolutely consider using the BOPIS model to improve your sales.
Source: Business Insider
Online shopping will likely top $200 billion in 2021.
Online shopping is expected to top $200 billion at the end of 2021. This has never happened before. That’s because the pandemic shifted the way people shop. Consumers can now shop wherever and whenever it’s convenient for them.
That’s also the reason why holiday advertising is up by 5% compared to the previous year.
If you haven’t already, you should open an online store as soon as possible. There are multiple signs saying that the ecommerce industry will continue to grow.
Shoppers cite reliable delivery as the most important attribute when buying online.
According to 41% of shoppers, the most important attribute when shopping online is fast and reliable delivery. Some of the things they look for are same-day delivery, pick-up options, and visibility of the product throughout the delivery process.
Other notable attributes include the availability of products (35%), good return policy (31%), great site navigation or being able to quickly find products customers are interested in (30%), availability of online customer reviews (26%), the ability to see an extended range of stock compared to physical stores (26%), and easy-to-use mobile app interface (23%).
We suggest that you review your ecommerce site features and see if you’re currently able to address these customer concerns. You want to be able to give users the best experience and offer the best solutions.
65% of consumers expect to use digital shopping channels more in the future.
A study by Wunderman Thompson claims that 65% of consumers expect to use online shopping channels more in the future. It adds further that 34% of shoppers prefer that their online purchases be digital and instantly downloadable.
The same study provided other interesting tidbits. For instance, 52% of online shoppers get their inspiration from browsing Amazon. In fact, 63% of online shoppers start their product search by going to Amazon. 75% of consumers also said that they wish more brands offered the same level of services as the online retail giant.
Source: Wunderman Thompson
Most online sales for the fashion industry come from mobile accounts.
66% of online sales in the fashion industry come from mobile devices. 76% of online traffic also comes from mobile accounts. These figures are from SaleCycle client data from 2020 to 2021.
This data only shows that users in the fashion space now prefer to use a mobile device to shop online.
What kinds of sales is the ecommerce industry pulling right now? You might be surprised. It’s one of the fastest-growing markets in the world.
If you’re thinking about investing more resources into improving your online operations, we can say with confidence that it would be one of the best decisions you could make considering where all businesses are headed in the coming years.
Ecommerce sales are expected to reach $6.3 trillion by 2024.
According to Statista, ecommerce sales are expected to reach $6.3 trillion by 2024. In comparison, the worldwide sales from ecommerce were $4.28 trillion in 2020.
2021 is expected to end with $4.89 trillion in worldwide sales.
Ecommerce sales grew in 2020.
Ecommerce sales grew worldwide by 27.6% in 2020 for a total of $4.280 trillion. That’s despite the complications brought about by the pandemic. The mid-pandemic assessment for global ecommerce growth was just 16.5% which means 2020’s sales blew way past estimates.
Of all the regions, Latin America saw the most ecommerce growth at 36.7% which is surprising since it also suffered a 3.4% drop in overall retail sales which is worse than average.
Argentina had a 79% ecommerce growth. Singapore has a good showing too at 71.1%.
China will continue to be the leader in digital buyers, however, and is expected to generate $2.779 trillion in ecommerce sales.
Total ecommerce sales for Q2 of 2021 are estimated at $1.6 trillion.
The total sales for the second quarter of 2021 are estimated to be at $1.6 trillion according to the US Department of Commerce. This is an increase of 5.2% from the first quarter.
The second quarter of 2021 saw an increase over the previous year’s Q2 numbers as well. It’s up by 9.1%. Total retail sales increased by 28.2% over the same period.
Source: US Department of Commerce
Online sales declined after pandemic restrictions relaxed.
There was a sharp decline in online sales shortly after restrictions caused by the pandemic were eased. However, online spending still remained higher than it was before Covid-19 hit.
In May 2021, there was a 9.1% dip in online sales. This was a stark contrast to the same period the year before where there was a 61% growth in ecommerce sales.
Source: Retail Week
How are traditional businesses faring against online retailers? While there are still consumers that prefer to shop in-store, especially for specific types of goods, there’s no doubt that online shopping is taking over.
The pandemic changed the way people shop. Today, most users prefer to buy from the comfort of their homes.
Online shopping fared better than in-store shopping.
When you look at the growth that the retail industry had in 2020, you’ll find that the majority of the sales are from online purchases. Ecommerce contributed 74.6%—or three-quarters of sales—of all gains in that period.
In comparison, offline sales only contributed 2.1% in 2020. That’s about the same rate that retailers enjoyed the year before the pandemic hit.
There are people who will always prefer to shop in-store. But as you can tell by now, more and more people are making their purchases online. So it’s about time that you develop a strategy that centers around online shopping.
Source: Digital Commerce 360
25% of consumers still prefer to buy products in-store.
25% of consumers said that they still prefer the brick-and-mortar experience over making online purchases. The reason given is that it helps them feel more connected with brands. This is even truer for consumers in the 18 to 25 age bracket.
59% of younger buyers said they like buying in-store when it comes to clothing and apparel.
Source: Walker Sands
Big names in the ecommerce industry are reaping the rewards of investing in ecommerce. You won’t believe the number of sales that online shopping platforms are getting. And all of them are optimistic about the future of the industry.
They say that things will only get better from here. And they’re probably right.
Amazon will corner 41% of the US retail ecommerce market in 2021.
Amazon is far and beyond the biggest player in the US retail ecommerce market and is positioned to corner 41% of the US ecommerce market in 2021.
Other ecommerce retail companies included in the top 15 are Apple, The Home Depot, Target, Best Buy, Costco, The Kroger Co., Wayfair, Chewy, Etsy, Lowe’s, Macy’s, and the Qurate Retail Group.
Shopify is the ecommerce platform with the largest distribution.
According to reports, Shopify has the largest distribution for websites using ecommerce technologies. It currently has a 32% hold of the US market.
WooCommerce isn’t that far behind at 19.94%. Other big players in the space include Wix (12.37%), Squarespace (9.65%), and Ecwid (4.57%).
If you’re looking for an ecommerce platform to use, Shopify would be a safe bet. Not only does it have plenty of users, but it’s also one of the biggest names in the industry. But WooCommerce isn’t a bad option either. Squarespace and Wix are popular options for people that want an easy way to design and launch an ecommerce site.
You can learn more in our post on Shopify statistics.
Source: Built With
Walmart continues to grow in Q3 of 2021.
Walmart’s US sales grew to 9.3% year-over-year in the third quarter of 2021 to $96.6 billion. It’s US ecommerce sales are also up 8%. Sam’s Club’s ecommerce sales also rose 32%.
According to Walmart CEO Doug McMillon, the company was able to take advantage of an inflationary and deflationary environment which is why it’s in the position that it’s in now.
Source: Marketing Dive
Nestle sees ecommerce generating a quarter of sales by 2025.
Nestle—the world’s largest food company—says that its online sales will make up a quarter of its total revenue by 2025.
Those in the food industry are embracing ecommerce as consumers changed their buying habits due to the pandemic. For instance, the French grocer Carrefour SA shared that it planned on investing $3.4 billion in its digital growth. Nestle plans on doing the same.
Alibaba had $84.54 billion in sales in during the 2021 Single’s Day.
Alibaba hit a new record for raking in $84.54 billion in sales during 2021’s Single’s Day sales event even though this year’s 11-day occasion was toned down. This is an 8.5% increase from 2020’s numbers.
The company was only projecting a minor increase in gross merchandise value due to slowing retail sales, supply shortages, power disruptions, and pandemic-related lockdowns.
However, nearly 400 brands including Apple and L’Oreal SA earned more than $15 million in sales.
The US isn’t the only country that’s benefiting from ecommerce. Other countries are feeling its effects. In fact, there are regions that are projecting to earn a whole lot more in the succeeding years.
Let’s go over the ecommerce statistics and trends for markets outside the United States.
95% of purchases will be made online by 2040 in the UK.
NASDAQ predicts that by 2040, 95% of all purchases will be made through ecommerce platforms. It further adds that these sales will likely come through mobile devices. In January 2017, mobile sales accounted for 42.3% of purchases in the UK. And this trend is expected to continue.
That’s why ecommerce businesses are expected to prepare and step up their mobile sales efforts.
Australia’s ecommerce is on track to hit $70 billion by 2025.
Australia’s ecommerce industry is expected to grow by 13.4% in 2021 off the back of its huge gains in the year before. Because of this, experts believe that Australian online retailers will surpass the $70 billion barrier by 2025.
Because of Covid-19, Australia’s ecommerce spending grew to 16.8% which translates to $41.2 billion in 2020.
Most purchases made were for retail goods such as groceries and electronics. However, other verticals benefited as well. This includes food and drinks, gambling, adult services, health and beauty, and digital content.
On a related note, payment methods found that in 2020, 37.2% of credit card transactions were from ecommerce sales in Australia.
Source: CMO from IDG
Southeast Asia is one of the fastest-growing ecommerce markets.
Digital payments are transforming the way online shoppers in Southeast Asia are buying products. It’s currently on track to become the world’s digital payment powerhouse.
Reports show that the region’s ecommerce spending will rise by 162% and reach $179.8 billion by 2025. And digital payments will account for 91% of all those transactions.
The same report adds that 75% of the population in six of the biggest Southeast Asian countries have access to the internet and have shopped online at least once. The largest markets for ecommerce in this corner of the world are Indonesia, Vietnam, and Thailand.
Source: Techwire Asia
Ecommerce is essential to Indonesia’s small businesses.
New research suggests that ecommerce was responsible for the resiliency of Indonesian small businesses during the pandemic.
The World Bank collaborated with Shopee, an online marketplace, to survey 15,000 digital merchants in Indonesia. And it found that all of them made 30 or more transactions since joining the platform.
About 80% of digital merchants operated throughout 2020 when the pandemic first hit the country. Of those who didn’t operate online, fewer than four out of ten kept their business open.
Source: World Economic Forum
Chinese consumers are the most avid online shoppers.
The Chinese are the world’s most avid online shoppers. 83% of them reported purchasing a product in a month. What’s even more amazing is that this goes across demographics like age, gender, and income.
It’s also reported that 6 out of 10 of the global market leaders in digital commerce come from APAC regions.
It should also be noted that the UK, Germany, and Poland digital markets are also strong with all three countries achieving figures of 75% or higher.
And that wraps up our collection of the latest ecommerce statistics that you need to pay attention to. Use these statistics to plan ahead and adapt to changes in the ecommerce landscape.
Looking for more statistics? I can personally recommend these articles:
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