The Latest eCommerce Statistics And Figures You Must Know

Today, the global sales framework had made eCommerce to be the ‘King of All Trades’.

That is, owning an eCommerce Bizz is performed by remaining updated with eCommerce site search statistics that enables your brand for more conversions and sales beyond any country’s geographical borders.

And you know what, the eCommerce statistics are thriving!! 

The rise in online shoppers along with rising sales had shown a promising future and the eCommerce statistics revealed in the reports by Statista that

The eCommerce statistics of 2022, show that retail e-commerce sales amounted to approximately 5.5 trillion U.S. dollars worldwide. This figure is forecast to grow by 50 percent over the next four years, reaching about 7.4 trillion dollars by 2025.

This give rise to online shoppers along with rising sales are promising for marketers today as these statistics put big numbers in the limelight.

You see this increase would contain future target customers to help businesses gain conversions in their respective industries. 

So, here go through this article to better equip you with some of the most important & latest eCommerce statistics that could help you achieve the eCommerce results that are desired.

Let’s get started.

Read More: 7 E-Commerce Trends For 2022 & Beyond

The Latest eCommerce Statistics And Figures You Must Know

Global E-Commerce Sales To Hit $5.5 Trillion In 2022

Ecommerce is the transaction that takes place digitally between business-to-business, business-to-customer, customer-to-customer, and customer-to-business.

In 2021, eCommerce sales worldwide would hit a revenue increase of 4.9 trillion dollars and is estimated to hit sales of 5.5 trillion dollars in retail eCommerce as shown in the graph below.

These promising numbers are supported by the statistic of April 2022, where five billion internet users worldwide are reported to be active online and frame 63 percent of the global population. 

Estimated 95% Of Purchases To Be Made Online By 2040

By 2040, it is expected that 95% of all purchases would be completed online as over the past few years, e-commerce has become an essential part of the global retail framework. 

By this year, 95% of eCommerce purchases are done on smart devices from 18% in 2018 as shown in the data below:

This distribution of eCommerce return statistics has 64% of the American shopping budget spent in in-stores and 36% is spent online which would continue to expand with overall online sales increasing year after year.

E-commerce Industry Growing 23% Year-Over-Year

The e-commerce industry is growing 23% every year with an estimated revenue increase from billions to trillions for brands present online.

E-commerce sales in sales were forecasted to reach over $684 billion in 2020 and it did increase with a 50.5% increase in 2020 in comparison to 2019 revenue estimation and in 2021, eCommerce sales increased by 14.2% over 2020 sales.

This was over $870 billion in the U.S. alone and eCommerce represented 13.2% of all retail sales in 2021 in the US which supports the growing 23 percentile year-over-year. 

Amazon As The Giant Online Retailer For 59% Of Millennials

On the first surf, 59% of Millennials go to Amazon when they are searching for a product online, thus making Amazon, a giant among online retailers and one of the biggest competitors for every new and old digital shop.

Today, the individuals that majorly shop online are Millenials (between 26 to 40 years), and 1 in 5 millennials always first head to Amazon to look for their required products which make have the best eCommerce result.

Thus making Amazon the biggest e-commerce retailer in the U.S.; leading by 38.7% of e-commerce sales as shown in the graph.

These statistics are backed by 59% of consumers who would ‘always’ or ‘often’ start their online shopping journeys on Amazon looking to make an online purchase. 

And around 87% of millennials agreed that they also look at various websites or apps before buying a product that they want to purchase, letting them make a decision full of facts and figures from which Amazon is their primary choice.

61% Of U.S. Purchases Based On A Blog Recommendation

In the United States, 61% of online shoppers have made a purchase based on a blog’s recommendations.

That is, consumers tend to believe in a product or a brand if they are given personal information from other customers about their experience in a blog rather than technical content about your company, its products, and services.

The thing is, a blogger’s words would be much more effective and influential as they are easily understood by the target customers, but a technical article by your company does not provide your customers the connection that they need. This is illustrated below.

That is why a blog is much more appealing and communicative to your customers’ queries and thus, could get you more leads.

Now, small businesses or startup businesses have claimed that blogs had made them 126% more lead growth and revealed that 60% of customers feel more confident about a business when they have read custom content on their site.

These statistics show business growth when custom content in blogs could appeal to your customer’s buying decisions.

Dissatisfied Review By 55% of Online Shoppers

Customers online are 81% confident to trust the reviews and recommendations made by 55% of online shoppers that were dissatisfied during the sales process or even after using the products.

Often these recommendations are made by online shoppers that are friends and family of your target customers online and when dissatisfied with a product or company, they would give you a bad review. 

So, to remind you that recommendations to your business come from positive reviews and testimonials and 81% of consumers trust the advice of friends & family over businesses because as the saying goes Friends and family want what’s best for you.

An Expected 18.1% Of Retail Sales Worldwide

US eCommerce sales are showing great promise for growth in the coming years with 18.1% of retail sales worldwide, up from 17.9% in 2021 with sales of $933.30 billion. 

The eCommerce statistics are supposed to increase, as it is predicted to be doubled to 23.6% with an estimated revenue of $1.6 trillion in 2025 as shown in the graph below.

ECommerce in the US market share is expected at 17.3% in 2022, which is a 2% increase since 2021 (15%) and US consumers are predicted to spend $933.30 billion on eCommerce this year which are promising eCommerce return statistics this year.

93.5% Of Global Internet Users Have Purchased Products Online

93.5% of internet users have purchased products online with the brand awareness that has made eCommerce presence on the digital platforms.

Now, the online stores with a social media presence have an average of 32% more sales than those businesses which don’t.

For example, the company Toy’R’Us became the case study of the marketing arena when after gloriously operating for 60 years, it faced a downfall in 2018 that resulted in the liquidation of all assets in US stores as well as its closing.

Well, they did need some growing up!!

As the digital landscape grew, the wonder of creating your brand their customers, and brand recognition diminished.

So, make a place in the eCommerce market by performing optimization for a better consumer experience. 

60% of consumers say the email market appealed to them to make a transaction whereas only 12.5% say the buttons on social media made them buy certain products online.

That is online stores with a social media presence could generate more than 30% of sales but the email market show a more promising 760% increase in revenue which is discussed below.

80% Of Businesses Are Researched Before Purchases

Before making a purchase or buying, consumers research 80% of businesses online so that they can make an educated decision.

Some research has shown that millennials make a buying decision based on the research that they perform before visiting small businesses or even making a purchase with them. 

Thus, research is the key element that makes it appealing for customers to buy online rather than from a physical store, and given below are some google shopping statistics for different research topics online.

55% of individuals want to acquire product reviews or recommendations from other online shoppers which would affect 47% of these online purchasers who consulted the company’s website for information about its store.

The 50% of people who used search before shopping looked for details about the store itself, such as locations or proximity which has held the same power as it did for several years since 2018.

The percentage has increased today making more opportunities with increased shoppers looking for information online regarding the brand or company they want to purchase from.

Read More: How To Conduct Market Research For Business Development

Convenience For Customers To Buy At All Hours

Consumers are high on which company can provide a better experience and convenient elements for them, nowadays and the number one reason to shop online is that the digital stores are open at all hours of the day.

Now, the statistic of 43% of Americans shopping online in the comfort of their beds represents that for a better user experience your website must provide your target users with elements of your website at all hours and under any weather conditions.

Exploring customers’ needs is the top priority of any business. Plus this exploration shows the number of potential customers that are willing to visit your website when in a store (25%), at the office (23%), and even in bathrooms (20%).

So, for the best eCommerce result, the major factor is for your website to follow a 24/7 schedule because your customers could need your business assistance at any time. 

24% Of Customers Prefer Same-Day Delivery

Home delivery is another element that makes a user experience better or worse.

Purchase that happens online for same-day delivery reported 24% of consumers encouraged to get from a web-only retailer product immediately.

The bar graph below shows some of the bad experiences with the delivery of an online retail shop that caused multiple targeted customers to quit that brand some of these are slow delivery, expensive shipping, and past bad experience.

So, these statistics should force you to optimize your delivery method that could increase the sales, one such element is free delivery which would make your store the number one online retailer.

66% Of Gen Z Purchased Through Social Channel

There are more than one out of every four people you see around who is an online shopper and Gen Z is the youngest part of them.

Gen Z is more motivated to shop in-store but is introduced to a large brand list, so, they are most likely to discover them on digital channels that as social media but this, as a result, has made them less loyal to brands.

So, most Gen Z can be influenced to buy from Instagram, Youtube, TikTok, Tumblr, and Pinterest as shown in the percentage comparison of Gen Z and Millenials who are open to buying products on social media.

Gen Z is the fastest adopter of social e-commerce, along with Millennials, with 66% percent having already purchased natively from a social media platform. With this, you can decide which platforms to use if Gen Z or Millenials are your target consumers.

80% Of Shoppers Are Influenced By Shipping Price & Speed

Delivery, which makes for the shipping price and speed for an online purchase is extremely influential in determining where the shoppers would buy from for 80% of American shoppers.

In the bar graph below, some of the major elements of an online store that compel shoppers buying decisions are free delivery (50.7%) and same-day/ next-day delivery (28.4%).

33.6 percent of shoppers look up price comparisons on their mobile devices while in a physical store. This makes the price whether for shipping or the actual product to be of the essence when consumers make a buying decision. 

75% Of US Consumers Do Online Holiday Shopping

75% of U.S. consumers will do more online holiday shopping than they have in previous years.

Discounts and offers are a great part of holiday marketing that grabs the attention of traffic that is ready to make discounted purchases.

And with average consumers planning to spend $785, which is more than in 2020, and even higher than the pre-pandemic levels of sales, the market blooms during the times of holidays.

More Than 1/3rd Of American Businesses Have No Website

In 2020, more than one-third of American small businesses did not have a website keeping many small businesses in a blind spot of the digital market, so without their digital imprint, the goals of traffic, conversions, and revenue become an unreachable task.

Even now, 46% of American small businesses still don’t have a website but all this would change soon.

Because in this digital era, consumers expect businesses to have a website that would provide the simplest of information such as contact information, or addresses.

And if you are not able to provide that your business could appear illegitimate to potential customers, making fewer profits than the ones estimated for your business.

More Than 51% of Online Purchases Are Mobile Based

Around 51% of today’s online shoppers conduct purchases via phones and mobile eCommerce accounts for 45 percent of US eCommerce sales.

Now, the survey of 350+ Americans showed that 62% of shoppers purchased at least one item through smartphones as shown in the graphs below.

Retail e-commerce on mobile sales hit $359.32 billion in 2021 which was 15.2% of the revenue earned and is estimated to bring sales of $728.28 billion in 2025, that is a 44.2% hike in retail eCommerce sales in the US.

This makes for a bigger case for small businesses to start their optimization for better and more organic traffic which would provide you sales as predicted.

Relevant Recommendations By Mobile Sites/App Makes 63% Of User Purchase Decision

The relevant recommendations based on products consumers may be interested in could appeal to 63% of smartphone users to purchase from the company’s mobile sites or apps.

Some 58% of smartphone users feel more favorable to companies whose mobile sites or apps remember who they are and could suggest products of their interest by analyzing their past behavior.

So, an AI-based, retail website or App could influence your user’s buying options and promotes sales through their automatic recommendation.

Mobile eCommerce accounts for 45% of US eCommerce sales and a company or brand that owns a mobile app could attract 51% of smartphone users who are more likely to browse or shop on a smartphone because they want to get rewards or points.

Poor eCommerce Caused Businesses To Lose $756 Billion

Personalization is an unspoken truth of today’s retailer eCommerce shops that when done right could earn you a loss of business but when wrong, could cost you money heavy finance.

As, in the last year, businesses have lost $756 billion because of poor eCommerce personalization.

And, eCommerce personalization is a great tool used by marketers to provide a better user experience to drive conversions and sales altogether and requires time and energy to grow so that the repeated business could be nurtured as illustrated below.

For example, by offering freemium services to customers, LifterLMS, a company that sells online courses, earned $23,700 in revenue over 5 months with 7,000 new leads.

So, working on your retailer website/app to provide a personalized eCommerce plan would help you get new leads as well as boost your sales.

6 Out Of 10 Shoppers Need Optimized Self-Service Tools

There are 6 out of 10 chances that your shoppers would need self-service tools for interactive knowledge about your brand which, in simple words, is information about certain products or even general exploration of your website by targeted traffic.

Americans further look for product images, product reviews, customer testimonials, and other elements that would attract your target but curious customers to your eCommerce website. 

Some of the statistics about the need for customers on your website or your online stores are 78% of customers need product images, 69% product reviews, 22% live-chat function, and many other elements shown in the infographics below.

To provide these elements some self-servicing tools provided are:

i. Websites (24%)

ii. Mobile apps (14%) 

iii. Voice response systems, and VoIP (Voice over Internet Protocol) (13%)

iv. Online live chat (software/ plugins) (12%) 

The percentage of online shoppers needing self-service tools are mentioned above such as 24% of websites, 12% online live chats, etc.

With online shopping growing, the estimated hike of 22% by 2023 should be considered an e-commerce success rate and shouldn’t surprise you as eCommerce retail purchases were 14.1% in 2019.

Also, around 50% of people agree that they would purchase something from a website’s chatbot, and no direct interaction with an employee is needed.

So, AI, Bots, and Automation make eCommerce self-service tools much more effective as 78% of brands have already implemented them or are planning to do so in their eCommerce stores.

Segmented E-mail Campaigns For 760% Increased Revenue

Segmented campaigns to email subscribers drive 760% in revenue and so, email segmentation shows an open rate of 14.31% and a  click-through rate of 100.95%.

But you would be shocked to know that around 76% of businesses do not even use behavioral segmentation which has a high percentile of gains as reported in the data below.

As there is an increased sales leads for 24% of email marketers that practice list segmentation and 39% of its users seem to get better open rates too.

E-mail Marketing Drives 20% Traffic & eCommerce Sales

For marketers in the digital arena, email marketing contributed to 20% of traffic driving eCommerce sales in 2016.

And over 60% of consumers say that they’ve purchased as the result of an email marketing message they received.

This gives an estimation of 4.6 billion users directed to websites per day by 2025 which is only 4.2 billion email users for this year as shown in the graph below.

That is why 64% of small businesses use email marketing to reach customers.

$42 For Every $1 Spent ROI On E-mail Marketing

The fact that email marketing brings in an ROI (Return on Investment) of USD 42 for each dollar spent is a deal of earning major revenues by spending just a single dollar on email marketing services.

So, when you look at the 100.95% CTR and a 14.32% higher open rate from your brand’s email campaign, the rate of investment (ROI) is $42 for every $1 spent on email marketing becomes a winner for your marketing strategy.

13% Of Consumers Spend More On New Brand Or Retailer

The 13% of consumers who are willing to spend more on a new brand or retailer if it has been promoted by a celebrity or social media influencer they follow is 22% of the customers aged between 26 to 35 years.

The thing is, 48% of online shoppers go straight to these large eCommerce marketplaces such as Amazon, and eBay, and this is of course due to their brand appeal and customer population as shown in the data below.

For example, 69% of Americans have shopped online and the majority of these shoppers bought clothing items, and from them, 47% bought their first item on Amazon. 

That is why the large eCommerce marketplaces such as Amazon or eBay are preferred by retailers online as they are already flooded with existing users’ accounts who know and trust these market platforms.

1 Out Of 3 Users Purchase Within 5-Days Of Google Search

Many users turn to Google to find out more about a product or a service and 1 out of 3 users who do that would choose to purchase within five days of their search.

Across US retailers online, Google shopping statistics showed that customers have seen 76.4% of retail search ads which had achieved 85.3% of all clicks promoting specific-brand among online users.

Google shopping statistics show that within a category-specific ad spending for Google shopping varied between 64.4% and 86% in the US and promoted businesses and brands to reach business goals.

84% Of Consumers Go To Businesses That Treat Them Like A Person Rather Than A Number 

Consumers receiving annoying calls from all the companies that got their number through data exchange understand one thing well “For such marketers, consumers are just a number to attract for sales” and are avoided by traffic at all cost.

And, you should know that 84% of consumers give business to a company that treats them like a person, rather than a number without annoying them to the bits.

The marketers that were given business had taken time to connect with the customers, who explained the use of products to them, and also, gave them instant engagement as presented in the graph below.

And, in return for this engagement, 65% of consumers are willing to share their personal information with a brand or retailer in exchange for more personalized shopping experiences, coupons, or other benefits.

Note that 70% of buying experiences are based on how the customer feels they are being treated and so even a bit of discomfort in the process would cause them to retaliate as 62% of customers are ready to share their bad experiences with others.

Only 1.94% Of eCommerce Website Visits Converted To Purchase

Your website conversion rate is hard to increase and when the conversions do increase your revenue from sales could profit them at a double rate than before.

On average, only 1.94% of eCommerce website visits convert into a purchase in 2021 meaning, roughly 1 in 51 stores that get visitors who bought something from them.

Now, according to the latest data, as of February 2022, average conversion rates across eCommerce businesses were at 1.53% has failed by 0.32 percentage points from a year ago as shown in the data below.

So, it is advised to keep a close eye on your website’s conversion rates in the average eCommerce by product, market, and device as conversions are pretty hard to keep up with in the market, digital or physical.

That is keep working on your website/app to attain the e-commerce success rate and increase your brand conversion rate by performing needed solutions.

91% Of Customers Shop From Businesses With Better Personalization

Personalization is a great and essential element that your website and brand could use to attract customers as 91% of respondents say they would more likely shop with businesses and brands that offer better personalization than ones that are not. 

Furthermore, 72% of consumers prefer tailored messages for their unique customer profile and would only engage with brands that market their products and services with messages tailored to their interests.

These tailored messages help in the discovery of new products that could interest your customers, improves their online shopping experience, and may even reduce irrelevant ads that annoy people so much. All these benefits are graphed below.

So, the bottom line of your business must be to provide a better user experience as RetailNext presents that 40% of consumers purchase more from retailers that provide a personalized shopping experience across channels.

69% Of Ecommerce Traffic Comes From Google

Organic traffic is the bread-and-butter for any business especially eCommerce which makes Google the most effective search engine that receives a total of 69% organic traffic from local as well as search online.

The graph below shows that 46.5% of organic searches and 22.6% of local searchers together are able to get 69% of the digital traffic online.

Although PPC campaigns on search engines also get about 8 to 22% of shoppers to be directed to a brand’s website.

Credit Cards Are The Preferred Method Of Payment

This decade saw a huge decline in buyers using cash and in the US, 28% of people stopped using cash altogether.

Since 2017, credit cards are the preferred method of payment as they are used in 53% of transactions, followed by digital payment systems (43%), and debit cards (38%).

And many small-business credit card purchase volumes are estimated to leap from $493 billion in 2017 to $686 billion in 2022.

85% Of Orders From Social Media Sites Were Through Facebook

Facebook has been around for more than one and a half decades which has made it more trustworthy than most social media sites and that is why businesses receive around 85% of orders from Facebook alone.

A post on Fb containing characters within a limit of 40 to 80 characters could get 66% more engagement from online traffic.

Now, in addition to the limit on characters, a business should also put photos and videos on the posts, so that the brand could receive 53% more Likes, 104% more comments, and 84% higher click-through rates.  

When it comes to eCommerce businesses, it is factorized by the quality of products and services, and in addition to that presentation is another key factor so as to attract customers, promote engagements, and nurture these clients in the digital arena.

Conclusion

With the facts and figures taken under consideration, you can see how e-commerce can be beneficial in today’s marketing campaigns and so, it’s time to perform that digital optimization and take your store to the next level.

Processes such as a payment gateway, options on sales prizes, or even discounts could be in your favor for your retailer platform- website, and apps- that could work like a charm on your target customers and provide you with perks such as more traffic and conversions. 

So, read these statistics for using them to get the most from your digital marketing campaign, that is, from traffic to revenue, please read the rest of this blog thoroughly.