eCommerce Facts & Figures
The numbers speak for themselves. The time is NOW to take advantage of the fast growing eCommerce space by implementing selling strategies on popular platforms.
Global e-commerce sales are projected to reach $6.8 trillion. Online shopping now accounts for 16.9% of total U.S. retail sales, with U.S. consumers spending over $5,381 online annually. As digital channels mature, mobile commerce and artificial intelligence continue to drive the future of online retail.
GLOBAL SALES
Worldwide B2C and B2B eCommerce sales are on track to exceed $7.4 trillion, with forecasts pointing to an $8 trillion industry by 2027.
U.S. MARKET
U.S. retail e-commerce sales generated $326.7 billion in the first quarter, continuing a steady year-over-year climb.
MARKET LEADERS
Amazon dominates U.S. online sales with a 40.5% market share, followed by Walmart at 6.4%.
56%
of U.S. consumers begin their product searches directly on Amazon
By 2027, 23% of retail purchases are expected to take place online
Online shopping statistics show the increase in digital orders is not just a trend. Shopping online is here to stay, as 23% of total retail sales will be conducted online in 2027. Start thinking today about how to sell products online to avoid becoming obsolete.
The most common reason online shoppers abandon their cart is because of additional costs like shipping (47%)
Almost half of online shoppers reported that extra fees, such as shipping, will prevent them from moving forward with their purchase during the checkout process. Other inhibitors include slow delivery times, and a long or complicated checkout process.
Amazon offers FAST and FREE shipping!
24% drop out of an online shopping session because shipping is too slow
When a customer orders a product online, they may not expect it that hour or that day. But many of them want it as soon as possible. If it takes weeks or months for you to ship orders, they’ll likely leave their online shopping sessions. Slow shipping and eCommerce are not a good combination.
Amazon offers FREE Two-Day, Next-Day, Same Day delivery and in some markets, 3-Hour Deliver.y
More than 34% of shoppers shop online at least once a week
For many people, shopping online is a strong habit. Reports show that more than 34% of shoppers buy something online once a week.
91% make online purchases using their smartphone
Most people depend on their smartphone on a daily basis. Whether they have an Apple, Android or other device, many of them turn to it every time they want to make an online purchase.