Ecommerce statistics show the global industry made over $4,28 trillion in 2020. Businesses need to know how ecommerce works so they don’t get left behind and miss out on this ever-growing opportunity.
Let’s learn about the industry and why it’s a vital part of a successful business.
Fascinating Ecommerce Facts
- In the second quarter of 2021, retail ecommerce sales reached $1,666.8 billion.
- Eretail made up 18% of all retail sales worldwide in 2020.
- Global ecommerce sales hit $4,28 trillion in 2020.
- Personalizing a website can increase customer satisfaction by 20%.
- 80% of consumers will buy from a company that offers a personalized experience.
- Using multiple channels can increase business ROI by 24%.
- 84% of online users say customer service is a driving factor for their purchasing decisions.
- 75% of consumers will pay more for good customer service.
- 81% of customers research products online before buying.
- About 95% of all purchases are expected to happen online by 2040.
The ecommerce industry is growing rapidly. That’s why business owners need a firm knowledge of how it works and what they can expect going forward.
Online Shopping Statistics By Year
Take a look at the year-on-year growth to understand how much online shopping has increased:
| Year | In Billions |
| 2014 | $1.33 |
| 2015 | $1.5 |
| 2016 | $1.8 |
| 2017 | $2.3 |
| 2018 | $2.9 |
| 2019 | $3.3 |
| 2020 | $4.2 |
Ecommerce Statistics for 2022
Now, let’s jump into some stats.
The changing ecommerce space brings with it a change in how consumers experience products and services online.
1. 69% of Customers Like to Learn About Products Through a Video.
(Source: Wyzowl)
- 18% want text-based explanations.
- Only 4% like infographics.
- A staggering 84% of online consumers have purchased a product after watching a brand’s video.
The video format has an undeniable influence on purchasing decisions. Here are more online sales statistics.
2. In the Second Quarter of 2021, Retail Ecommerce Sales Reached $1,666.8 Billion.
(Source: The Census Bureau of the Department of Commerce)
- That’s a 5.2% increase from the first quarter of 2021.
- Eretail made up 18% of all retail sales worldwide in 2020.
- In 2015, 78% of marketers said videos were essential for strategy. In 2021, this stands at 93%.
- Close to 80% of customers have bought or downloaded an app or software after watching a video. Plus, web pages with videos see a 37% increase in add-to-cart conversions.
Let’s have a look at what’s happening on a global scale.
Global Ecommerce Statistics
Ready to see some interesting facts about the industry on a global scale?
3. Global Ecommerce Sales Hit $4,28 Trillion in 2020.
(Source: Statista)
- That’s expected to grow to $5.4 trillion by 2022. Also, over two billion people made online purchases in 2020.
- The customer experience market was worth over $7.5 billion in 2020.
- Predictions estimate digital wallets will be the most popular payment method by 2023, holding 52% of the online payment market.
- In 2021, Paypal made it possible for customers to use cryptocurrencies on the platform. That opened a whole new market for spending money online.
But why should we even care?
Ecommerce Stats
Understanding consumer purchase behavior is a massive part of ecommerce. It can give us an in-depth look at what customers want and expect from online platforms.
4. 50% of Customers Will Switch Brands if They Can’t Contact Customer Service.
(Source: Accenture)
- Personalizing a website can increase customer satisfaction by 20%, conversion rates between 10%–15%, and employee engagement by 20%–30%.
- 72% of online customers expect a business to understand their needs in turbulent times.
- 57% of customers will switch brands if a business doesn’t offer multiple delivery options, like a curbside pickup.
That’s not all ecommerce industry statistics can tell us.
5. 80% of Consumers Will Buy From a Company Offering a Personalized Experience.
(Source: Bloomreach)
- 88% of marketing specialists have seen a profound improvement after implementing a personalization strategy.
- 33% of businesses don’t feel confident about their ability to deal with customer experience.
- Marketers have seen a 20% increase in sales on average with personalized content.
Ecommerce return rate statistics show 44% would buy again after a personalized experience. The question is why companies are reluctant to offer that.
6. 53% of Online Experience Professionals Feel They Don’t Have the Technology for Personalized Experience.
(Source: Bloomreach)
- In 2020, Amazon held 39% of the ecommerce sales in the US.
- Walmart’s sales increased by 79%, making it the second-largest ecommerce retailer in the US, with 5.8% of the market.
- COVID-19 affected everything dramatically. In February 2020, a mere 7% of Americans had tried curbside pickups, which increased to 22% by June the same year.
But what more can we learn about consumers?
Online Shopping Trends
Customers drive trends, so let’s see what’s coming.
7. Omnichannel Consumers Spend 10% More Than Single-channel Shoppers.
(Source: Harvard Business Review)
- 46,000 customers took part in the study, with 73% using multiple shopping channels.
- Omnichannel customers spend 4% more than brick and mortar-only customers.
- Omnichannel shoppers bring in 29% more repeat business than traditional retail stores.
Ecommerce statistics show businesses with omnichannel strategies have a 35% increase in average order value. But there are some challenges.
Here are the most significant obstacles for businesses providing an omnichannel experience.
8. 30% of Businesses Point Budget Constraints as the Biggest Obstacle for Omnichannel Experience.
(Source: PricewaterhouseCoopers)
- 21% say too many legacy systems need to change.
- For 20%, it’s challenging to integrate existing systems.
- According to 13%, it’s not a priority for their leadership team.
- 10% lack expertise.
- 6% lack internal resources.
Retail ecommerce statistics also have a lot to share.
9. 22% of Retailers in North America Put High Priority on Omnichannel Efforts.
(Source: Statista)
- 54% pointed to mobile channels as one of their number one priorities.
- Using multiple channels can increase business ROI by 24%.
- Campaigns that use four channels surpass dual and single-channel ones by a staggering 300%.
Ecommerce consumers differ from traditional shoppers in needs and expectations.
Ecommerce Shoppers & Customer Service
Having in-depth information on what ecommerce shoppers want can improve customer service efforts dramatically.
10. 84% of Online Consumers Say Customer Service Is a Driving Factor for Their Purchases.
(Source: Zendesk)
- While automation was once the must-have for customer service, more recent studies suggest more than 55% of customers get frustrated with automated calls and would rather speak with a human.
- According to ecommerce research, 95% of consumers say customer service affects their loyalty to a brand.
- 33% of customers rate the customer service as good when their concern is addressed in a single interaction.
- 75% of consumers will pay more for good customer service.
So what can we expect going forward?
Future Of Ecommerce
Ecommerce is growing and changing rapidly, and it’s interesting to see how it’s all happening.
11. 56% of Customers Between 18–34 Expect Delivery on the Same Day.
(Source: Invesp)
- 61% will pay extra for same-day delivery.
- Just over 50% of retailers offer same-day delivery.
- Close to 50% of online consumers are more likely to shop if same-day delivery is an option.
All related aspects are affected by the growing ecommerce popularity, including delivery services, packaging, and customer service.
12. In 2020, 78% of Adults Worldwide Were Subscribed to a Service.
(Source: Zuora)
- That’s a 7% increase from 2018. Clothing subscription boxes are among the most popular choices for men and women in the US.
- Subscriptions help connect customers to businesses. 64% of consumers feel mutual respect with their subscription companies.
- 42% use monthly services for convenience and 35% for cost savings.
Subscription services are becoming incredibly popular and show no signs of slowing down.
The future of ecommerce estimates that parcels will equal all mail in volume by 2025. But how will delivery handle all that? Some interesting theories include drones, droids, underground tunnels, and even robots accepting packages for us. We’ll have to wait and see.
13. 31% of Online Customers Are Excited About Drone Delivery.
(Source: Clutch)
- 50% are unsure, and 39% say drone delivery won’t impact their purchasing decisions. 25% are less likely to order items if a drone delivers them.
- Online shopping statistics reveal 33% of online consumers believe a drone will be quicker. Also, 21% think it’ll be cheaper.
- Pop-up shops are an excellent option for new businesses and products. The industry has brought in over $10 billion in sales.
- 61% of consumers shop at pop-ups for seasonal products, so businesses can keep that in mind when bringing in new customers.
Ecommerce growth statistics show a profound change in global shopping. Let’s learn more.
14. The Global M-Commerce Industry Was Worth $2.91 Trillion in 2020.
(Source: Statista)
- 40% of mobile users search for a local business, while 72% visit a store within five miles.
- 80% of shoppers in physical stores research products on their phones. Plus, 81% of customers look for information online before purchasing.
- About 95% of all purchases are expected to be online by 2040.
But we shouldn’t only focus on consumers.
B2B Ecommerce Statistics
B2B makes up a massive part of the ecommerce market. While traditional strategies are still the most popular, buyers, marketers, manufacturers, and distributors are all moving online.
15. 44% of Millennials Hold a Managerial Position.
(Source: Demand Gen)
- 56% are directors or further up in the company. Millennials are used to online purchasing, and that impacts how they experience a business. If organizations aren’t on board, their competitors will prevail.
- Ecommerce statistics show millennials also have a vital role in B2B purchasing decisions, with 44% controlling purchases over $10,000.
- 33% are key players in recommendations.
Always remember that individual customers represent one side of the coin. Other businesses can increase ROI dramatically if organizations market themselves correctly.
Wrap Up
Understand ecommerce is vital for any business as the ecommerce market share is expanding at a serious rate. And any company that’s not on board will get left behind.
Embrace the change and grow with the industry.
FAQ
How many people buy online?
The industry is growing fast every day. In 2020, over two billion people made purchases online. Predictions show numbers could increase to 2.14 billion in 2021. The industry is growing fast every day.
What are people buying online?
Facemasks, sanitizer, bread makers, soup, exercise equipment, and toilet paper well and truly made the list for 2020. The COVID-19 pandemic brought a whole wave of new products, so health and safety remain the number one priority for most consumers.
Will ecommerce replace traditional shopping?
No one can say for sure. Still, ecommerce statistics show that the industry is growing rapidly and will continue to do so in the coming years. Businesses and organizations alike are discovering new ways to bring goods and services to consumers quickly.
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[…] It is for this reason that online retailers need to make sure that their sites are optimized for mobile users and should even consider creating an app if possible. It is looking likely that the share of purchases though smartphones and tablets will increase to 69% by 2020. […]