ECommerce Stats You Need to Know

by | Dec 26, 2019 | Blog

If you want your eCommerce to remain relevant, you need to understand the direction that your industry is moving in. When you have time to examine the trends, you can plan marketing and business strategies that can move with the fast pace of the online industry. Whether you are a B2B provider or a B2C retailer, knowing how customers are behaving online should inform the plans that you make for your business growth.

The following statistics come from various sources, such as online stores, marketers and leading academic studies.

Top 10 eCommerce Stats to Help Your Business Thrive

  • Today, eCommerce influences up to 56{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of in-store purchases.
  • 55{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of Americans begin their product searches on Amazon.
  • Almost 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of shoppers didn’t finish their purchase because trust logos were missing.
  • The top online purchasing categories in 2018 were fashion at 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} and travel at 59{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3}.
  • 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} shoppers report leaving a transaction due to extra costs, such as shipping fees.
  • On average, 26{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of global online shoppers purchased FMCG products in 2018.
  • Over 60{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of millennials and generation Z-ers are likely to complete transactions on their mobile devices.
  • As many as 18{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of local searches lead to a sale within 24 hours.
  • Where transaction value is concerned, mobile commerce grew from $50.92 billion in 2014 to $693.35 billion in 2019.
  • 57{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} is the global average of online shoppers who make purchases from overseas retailers.
1. ECommerce influences up to 56{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of in-store purchases.

ECommerce is about more than just buying products and services online. If you do not realise, appreciate, and take advantage of the complex and evolving synergy of online and offline commerce, it’s unlikely that your business will thrive. The very fact that there is such a thing as “offline” shopping in contemporary discourse shows traditional shopping is no longer the norm. It’s as relevant as eCommerce platforms. (Research Gate)

2. 55{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of Americans begin their product searches on Amazon.

Amazon is behind 44{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of all eCommerce sales, with eBay behind 7{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of sales in a distant second. With its own shopping app and 40{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} mobile reach in the US, Amazon ranks way ahead of everyone else. (Research Gate)

The Amazon monopoly is so overwhelming that US Congress is launching an investigation into whether it’s guilty of “anti-competitive conduct.” The committee is questioning the inner-workings of the entire system and will try to assess “whether existing antitrust laws, competition policies and current enforcement levels are adequate to address these issues.” The answer to the question of what is eCommerce might change if new insights bring forth change. (The Guardian)

3. A Shopify article indicates that almost 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of shoppers didn’t finish their purchase because trust logos were missing.

SSL Certificates are small data files that digitally bind a cryptographic key to an organisation’s details. For best-chance eCommerce conversion rate optimisation, including a form of legitimate safety assurance can improve conversion rates. Typically, websites use these certificates to secure many aspects of eCommerce, such as credit card transactions, logins, and data transfer. Securing web browsing has become the norm. There are different types of trust indication, the most frequent ones being Site Seal, TrustLogo, and Corner of Trust. (Medium)

4. The top online purchasing category in 2018 were fashion at 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} and travel at 59{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3}.

The 2018 Nielsen report on the state of connected commerce is based on a survey that polled over 30,000 online consumers in 64 countries. This view of contemporary eCommerce basics and global consumer habits comes from the opinions and data from countries in Europe, Latin America, AsiaPacific, North America, the Middle East, and Africa.

Books and movies were the third most popular category at 49{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3}. IT and mobile came fourth at 47{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3}, and event tickets amounted to 45{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3}. Online shopping is one of the most popular internet activities on a global scale – and some purchase categories are better suited for this medium.

The most popular eCommerce business examples are also from these categories. Warby Parker, one of the most profitable eCommerce businesses, sells eyeglasses without a markup. Bonobos sells men’s pants, while TOMS offers a variety of shoes. (Nielsen)

5. 61{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of shoppers report leaving a transaction due to extra costs, such as shipping fees.

Hidden costs can make customers feel betrayed and manipulated, and the integrity and reputation of a brand or website suffer a great deal. ECommerce conversion rates are lower if consumers are confused about the full cost of a purchase.

According to the Baymard report, as many as 24{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of people surveyed claimed inability to accurately calculate total order cost up-front was behind their cart abandonment decision. Not only should businesses never lie to customers regarding even the most meager additional costs – they must go out of their way to be as clear and straightforward as possible. (Baymard Report)

6. On average, 26{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of global online shoppers purchased FMCG products in 2018.

According to Nielsen’s eCommerce statistics, that’s a 2{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} increase compared with 2017 for fast-moving consumer goods. FMCG, or Consumer Packaged Goods (CPG), are products businesses can sell quickly and at a low cost. Packaged foods, over-the-counter drugs, beverages, as well as other consumable goods are some examples. (Nielsen)

7. Over 60{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of millennials and generation Z-ers are likely to complete transactions on their mobile devices.

According to recent Visenze research, nearly 80{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of shoppers prefer to learn about new products on a mobile phone throughout the day, while going about their business. The future, in that sense, is probably almost entirely mobile-first, as new generations are likely to put more trust into eCommerce on this medium. (Visenze)

8. As many as 18{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} of local searches lead to a sale within 24 hours.

Most have to do with finding a good place to eat or buying headphones. Again, browsing the web for the best reviews, the most comments, and the most memorable experiences is easier than just walking in circles and spending your money on lukewarm, bland meals. (Research Gate)

9. Where transaction value is concerned, mobile commerce grew from $50.92 billion in 2014 to $693.35 billion in 2019.

In their report titled “The Future of E-Commerce,” Ovum decided to define m-commerce as remote consumer-to-business (C2B) mobile payments. The “follow the money” motto works well for making predictions about the future. The mobile-first landscape is growing stronger with reliable, positive mobile purchase experiences.

To add some of the big money to their own revenue, businesses are advised to consider eCommerce optimisation options, such as flow optimisation to navigation, homepage, purchase, and, of course, mobile optimisation. (Ovum’s The Future of E-commerce: The Road to 2026)

10. 57{d1a1694403c5660430dc420b8f142668f13097a51a1c1fc172179b975fdf78b3} is the global average of online shoppers who make purchases from overseas retailers.

Is eCommerce always global? Being a big fish in a small pond is not a good idea if you want to make serious money. In fact, it’s not even an option, since your neighbors are likely to look beyond their borders for that perfect item.

However, an actual physical presence around the world is not a requirement for taking your business global. Online shoppers are getting increasingly accustomed to making purchases from foreign sellers. During a six-month evaluation period, Shopify’s researchers found that North Americans are the only ones predominantly buying from domestic eCommerce merchants. During that period, shoppers from other continents made the majority of their purchases from a retailer located outside their country. (Shopify)