eCommerce is gaining more and more influence worldwide as technology seeps further into our everyday lives in spite of a lot of people being strangers or newcomers to it. It offers good chances to both old and new businesses regardless of size. As such, it pays to learn eCommerce statistics for 2020.
To start, one must have good eCommerce marketing skills. People enjoy websites and apps that are understandable and have fast processing speeds. The eCommerce industry can have small and large changes at almost any given moment, so it pays to keep an eye on statistics about updates especially at the start of the year.
First off, why do we have to check on statistics for eCommerce?
- Entrepreneurs can formulate new marketing strategies based on the new statistics, especially startups.
- Statistics can help with monitoring changes in the industry.
- Statistics can guide businesses about what to do and what not to do, as well as possibly allow them to make their own predictions about how markets will behave in the future.
eCommerce Statistics 2020
Marketing eCommerce statistics
- A 276.9% increase in global eCommerce sales is to be expected according to cumulative data.
- 61% of online buyers in the United States were influenced by blogs when shopping online.
- 93.5% of internet users worldwide bought products through online shopping.
- Every year, the eCommerce industry grows by 23% even though 46% of small businesses in the United States do not have websites.
- 2.86% of visits on eCommerce websites actually end up with a consumer buying a product.
- By 2021, the number of marketers who provide video content on LinkedIn will increase to 65%.
- The chances of shoppers cancelling carts can go higher by 75% and satisfaction rates can decrease by 50% if your website is slow.
- 61% of online buyers cancel purchases due to additional costs.
- Being capable of buying products at any given moment is the main reason why people do online purchases.
- Around 52% of online businesses have access to different kinds of media.
Email Marketing eCommerce statistics
- 24% of eCommerce purchases made in the holiday season of 2018 was because of email marketing. So it’s good to prepare emails for upcoming holiday seasons.
- Receiving email marketing messages was the reason why 60% of shoppers order products online.
- Email marketing has a $38-average ROI per $1 investment.
- 44% of people who received promotional emails actually made orders.
- 35% of people who received email open them due to what is written on the subject.
- 69% of people who received email disregard them due to what is written on the subject.
- Most emails are opened after 12 noon, with the greatest percentage of them being opened from 2pm to 5pm.
- Around 60% of people who use email claim that they receive excessive numbers of promotional email.
- Email marketing gains new customers 40 times better in contrast to social networking sites.
- 66% of shoppers made purchases because of email marketing.
You can know more on how to calculate ROI, email opens, conversions and relevant KPIs here.
Business-to-Business (B2B) statistics
- 69% of B2B companies claim that in the next five years, production of printed catalogs are expected to make a full stop.
- By 2020, B2B would be able to generate $12 trillion worldwide.
- By 2030, B2B would be able to generate $1.8 trillion on the US alone.
- 80% of B2B purchases are made through websites, compared to the 77% of those made through emails and 72% of those made mobile devices.
- Credit cards are the main mode of payment in B2B transactions at 94%.
- Augmented Reality (AR), Virtual Reality (VR), and chatbots will become key tools in B2B.
- 42% of online info gathering is done using smartphones when ordering products in B2B.
- 60% of shoppers lose interest in buying from B2B stores simply because the apps they use are difficult to understand.
- Mobile wallets are used in 26% of payments in B2B transactions.
- 74% of shoppers do partial info gathering about products through the internet before going to a store and actually buying products.
Business-to-Customers (B2C) statistics
- 57% of online shoppers worldwide order products from retailers from other countries.
- 51% of shoppers prefer buying from businesses who enable them to identify and interact with the company’s key personnel.
- 80% of consumers discontinue buying from businesses whose customer care services are unsatisfactory.
- Paid search has the biggest effect on online revenue, according to B2C marketers.
- China has the biggest B2C market worldwide in terms of eCommerce.
- B2C eCommerce sales worldwide generated $1.2 trillion in 2013, 29.7% of it came from the United States.
- The Netherlands is in first place of UNCTAD’s B2C eCommerce Index (which consists of 152 countries based on how prepared they are for online shopping.
- Singapore and Australia are the only countries at the Top 10 of the UNCTAD’s eCommerce Index that are not from Europe, with both at 3rd and 10th places, respectively.
- Aside from online shopping, B2C also caters to travel and and online payment services.
- Later updates in the eCommerce Index shows that Sweden, New Zealand, and Iceland lost their rankings in the Top 10, while Australia, Germany, and Finland took their places.
Mobile eCommerce statistics
- During the holiday season, 40% of online orders were made via mobile devices.
- 32% of consumers reconsidered their plans of making an order even while inside an actual store building after consulting product details on their smartphones.
- The greatest factor that influences online purchases done on smartphones is the recommendations of the buyers’ friends.
- By 2021, m-Commerce will contribute up to 72.9% of all global eCommerce.
- More and more online purchases are done through mobile shopping, while those done through desktop shopping decreased.
- The Asia Pacific Region is the area with the highest count of mobile shopping activity.
- 53% of people who own mobile devices use company-specific applications when shopping.
- Mobile shoppers are more likely to leave transactions compared to desktop shoppers.
- According to eMerketer, 59% of eCommerce transactions were done by the use of mobile devices.
- Small businesses apparently had bigger mobile conversion rates compared to larger businesses.
Social Media eCommerce statistics
- 1 out of 4 consumers in the United States check on social media for recommendations before purchasing gifts for people they know.
- Online businesses that use social media have more sales compared to those that don’t by 32%.
- 74% of shoppers base their shopping choices on social media.
- 85% of purchases from social media networks are done through Facebook.
- Social media posts with pictures on them have more likes by 53%, more comments by 104%, and higher click-through rates by 84%.
- 60% of consumers preferred products advertised by social media celebrities compared to celebrities of either film or television.
- 30% of eCommerce transactions worldwide were done through using social media, especially in rising economies (e.g. Southeast Asia)
- By 2019, around 2.77 billion people around the world use social media.
- Over one-third of time people spend on the internet goes to social networking sites.
- Nearly 1 out of 8 people claim to receive product recommendations through social media.
When it comes to eCommerce sites and apps, the more understandable and customer-friendly they are, the more sales they can make. The size and age of the company matters little as it allows everyone a fair share of chance to earn big. It also provides something for enterprises to work on and improve upon: improving the quality of online services and content.
Different eCommerce markets also flourish in different areas. Case and point would be B2B and mobile shopping in East Asia and the Pacific and B2C in western countries. China is an exception with good performance in both.
The statistics show that when it comes to eCommerce, businesses would do well to use different media (whether it be social media and emails) as they can advertise better that way; with social networking being the main influence of buyers’ choices if not the people they know.
Having understandable sites and apps, giving promotional email to consumers, and good performance speed of software can greatly bolster a business’ sales.