Getting started with e-commerce is a process that requires learning about different aspects that influence setting up and running an e-commerce website.
It is also helpful to have in mind the e-commerce statistics that provide a glimpse into the importance of this industry and the trends that are tremendously shaping the way strategy is implemented.
• Millennials and Gen Xers are similar in their likelihood to buy online—more than 90% of internet users in both age groups have made a digital purchase in the past year. But millennials are more likely to research products or make a purchase via their smartphone. (eMarketer).
• In 2015, the global population amounted to around 7.3 billion people, of which 1.4 billion people purchased goods and/or services online at least once. In total, they spent $2,272.7bn online, which results in an average spending per e-shopper of $1,582. (EcommerceWiki).
• Worldwide retail sales—including in-store and internet purchases—will surpass $22 trillion in 2015, up 5.6% from 2014. Retail ecommerce sales, those purchased over the internet, will make up 7.4% of the total retail market worldwide, or $1.671 trillion. By 2019, that share will jump to $3.578 trillion, yet retail ecommerce will account for just 12.8% of retail purchases. (eMarketer).
• About 71% of consumers are shopping online to find the best price. (IBM)
• 53% of global internet users have made an online purchase in 2016. (SocialMediaToday).
• Primary reason for digital shoppers in the United States to abandon their carts is the cost of shipping. (Statista).
• Nine out of 10 of the survey participants said free shipping was the No. 1 incentive when asked what would make them shop online more often. (MarketingLand).
• Average e-commerce conversion rate vary from 3% to 4%. (SocialMediaToday).
• 42 percent of online shoppers worldwide stated that they preferred to pay via credit card, while 39% preferred PayPal. (Statista).
• In 2017, global B2C e-commerce sales are expected to reach 2,143 billion U.S. dollars. (Statista).
• Customer satisfaction is the number one success metric for marketers today. (Salesforce).
• 39% of people will stop engaging with a website if it takes too long to load. (SocialMediaToday).
• Eighty-eight percent of shoppers characterize detailed product content as being extremely important. (Forbes).
• Over 90% of people buying on Amazon wouldn’t purchase an item with less than three stars. (Forbes).
• One-click checkouts and e-wallets will become a game-changer in 2017. (HuffingtonPost).
• 75% of people participate in webrooming to find the lowest price, while 72% do it to compare the products. (RetailPerceptions).
• The main reasons why customers webroom over showroom is because they don’t want to pay for shipping (47%) and because they like to go to a store and touch and feel the product before they buy it. (Shopify).
• Social commerce accounted for 5% of ecommerce. But predictions are healthy and show a 25% growth rate over the next five years. Mobile ads are the backbone of this growth. (HuffingtonPost).
• Mobile remains a powerful upward force for ecommerce. US retail mcommerce will climb 43.2% in 2016, paced by a 78.3% jump in sales via smartphones. (eMarketer).
• In 2015, mobile commerce accounted for 30 percent of all U.S. e-commerce in 2015, and U.S. retail e-commerce dollars are projected to grow to almost 482 billion in 2018. (PointSource).
• 56% of smartphone or tablet users intend to utilize their devices to search for and/or buy gifts this holiday season. (Invesp)
With the analysis of the data from numerous researches on the state of e-commerce, the following can be concluded:
• E-commerce market is expanding each year
• Mobile commerce is increasing its share in the overall e-commerce
• It is important to understand the profile of digital buyers
• Digital buyers want quick and easy way to buy online
• They also want the best price and free shipping
• Webrooming is slowly taking over showrooming.
Action Point
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I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.
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