Running an eCommerce business is not for the faint-hearted. From the evolving technology landscape in which you need to stay abreast of, to changing consumer behaviours, keeping your finger on the pulse is a necessity if you want to succeed as an online seller.
This is why below, we share some of the most surprising e-commerce business stats we have come across, ensuring that as a vendor you’re well educated and aware of both the opportunities and pitfalls of the industry.
There will be 2.14 billion global digital buyers in 2021
The number of people buying online is forever on the increase, meaning online vendors have an ever-widening pool of potential customers. A recent survey suggested that by the end of 2021 there will be 2.14 billion online purchasers buying goods online. This equates to 27.2% of the world’s population.
18% of all retail sales are made online
This is an extension of our previous point and yet again demonstrates the ever-growing world of eCommerce.
Now, more than 18% of all retail sales are made online; a figure that is climbing year on year. This means more opportunities for eCommerce sellers in all areas of retail.
Most consumers are seeking free delivery
Research has shown that the majority of those shopping online are seeking free delivery and will favour vendors that can offer free or discounted shipping options. The second most desirable quality of online shopping is the ability to apply discount codes and utilise online promotions.
33% of shoppers will look online while in a physical store
It is widely accepted that the most competitive deals can be sourced online. This is why over 30% of consumers will check for better deals online whilst in a store looking at a product.
80% of consumers research before placing online orders
Although buying online is a fast and convenient process, consumers are far savvier than you may think. Statistics show that more than 80% of consumers will conduct research into a brand before ordering via their site, paying particular attention to reviews left on independent review sites as well as social media.
This is why if you wish to succeed in the world of eCommerce, ensuring your happy customers are leaving reviews and positive commentary will pay off. This can only be achieved by offering good quality products and a high level of customer support.