8 Ecommerce Statistics That Prove Online Shopping Is Taking Over the World
What’s the future of online shopping? Are your current strategies still relevant or should you be focusing on new e-commerce trends? We’ve put together 20 of the most popular e-commerce statistics from around the web to help you get a better picture of what e-commerce looks like today, what it will look like in 2022, and how your business can thrive regardless of which form it takes.
1) Number of eCommerce websites will grow
The number of eCommerce websites will grow exponentially from just under 1 million in 2020 to over 4 million in 2022. In fact, by then, there will be 1 online retailer for every 7 offline retailers. These statistics provide a realistic outlook on how quickly eCommerce is becoming an essential part of global trade and commerce.
The rise of technology has made purchasing goods and services more convenient and faster than ever before, with eCommerce websites making it easier than ever to find what you’re looking for when shopping online. One unique benefit of shopping online is that many sites also offer reviews and other information about different products that you might not have come across otherwise.
2) Google Shop vs. Amazon – who is going to be on top?
Google Store is making a lot of progress with it’s wide range of products. To compete with Amazon, Google store must make better use of its data. For example, if a person clicks on shoes and they don’t want to purchase them, then they’ll be given other shoe suggestions that they might like in addition to suggestions for other types of clothes or accessories. With this type of data-driven strategy, Google could win over more customers who are searching for specific items.
3) Let’s talk about social media, shall we?
Social media is the new trend in marketing; not only are companies using it to sell their products, but they’re also using it to show people behind-the-scenes pictures and videos of what they do. When you think about how fast social media has spread, it makes sense that eCommerce is growing exponentially at this time as well. Nearly 71% of internet users have made an online purchase (a 42% increase since last year), so if your company doesn’t have a strong online presence, it’s only a matter of time before you lose out on potential customers.
4) Mobile traffic will grow by 40% in 2018 (and by another 40% in 2019)
Mobile has made waves in online shopping, growing from just 10% of traffic in 2010 to an astonishing 41% in 2018. This trend is only expected to continue, with estimates predicting that by 2019 mobile will account for 53% of all e-commerce traffic.
Within three years, mobile will drive nearly half of all retail sales. The increase isn’t limited to smartphone use; apps are fueling almost a quarter of all e-commerce transactions this year alone, and their popularity doesn’t show any signs of slowing down.
5) Global orders per mobile device will grow by 32% (on average) between 2017 and 2020
The mobile shopping market is already on fire, with mobile accounting for more than a quarter of e-commerce sales in 2018. Today, shoppers are more likely to access their favorite stores from their phones or tablet than from their desktop computers. Retailers who don’t take this into account risk missing out on revenue growth and reaching customers in ways that were unimaginable just a few years ago.
Experts predict that global orders per mobile device will grow by 32% (on average) between 2017 and 2020. In China and India specifically, devices such as smartphones and tablets already lead to twice as many online transactions than those done through computers.
6) Apparel and accessories are predicted to be the most popular online purchases among millennials
In 2022, apparel and accessories are predicted to be the most popular online purchases among millennials. And women will spend more on clothes than men. These projections come from a recent report released by Morgan Stanley. Specifically, 87% of women’s discretionary spending is predicted to go toward clothes while 76% of men’s will go toward clothing-related items. One explanation for these findings is that it might be an attempt to rebel against gender norms. The Millennial generation has been vocal about wanting brands and retailers to offer more styles targeted at their generation, as opposed to designing for baby boomers and Gen Xers who have traditionally dominated fashion retail.
7) How can online retailers increase their sales?
In 2021, eCommerce spending is expected to total 1.6 trillion dollars and makeup 11% of total retail sales in the world. While a traditional brick-and-mortar store may always be an option for many shoppers, an increasing number are turning to online stores to shop for their needs.
All these statistics prove that online shopping is growing and becoming more popular every year; it doesn’t seem like this trend will slow down anytime soon!
8) How big is eCommerce going to be around the globe in 2021?
In 2022, Global eCommerce is projected to account for $3.7 trillion. It is expected to grow at a CAGR of 13% to reach $4.9 trillion in 2025 with the Asia Pacific and Western Europe growing even more rapidly as they catch up on eCommerce infrastructure building of previous decades. China’s eCommerce sector will lead all other regions by a huge margin. By 2020, it is forecasted that $1.2 trillion of global sales will be generated from Chinese shoppers (more than double what the U.S. contributes).
Marketplaces like Alibaba’s Tmall are leading this growth through their wide array of products ranging from apparel to food. The number one demographic purchasing goods online in China is women aged between 25-34 years old who spend an average of RMB 4,420 per year on goods including cosmetics and health supplements. From these stats, we can see that it is no longer a developing market but instead an ever-growing powerhouse that has big plans for the future.