Ecommerce Statistics 2023: Market, Growth, Consumer Trends

Do you often purchase goods from online shops, and do you wish to know more about ecommerce? This article provides you with top ecommerce statistics to up your knowledge about internet shopping.

Retail has been irrevocably altered since the global COVID-19 epidemic. Quarantine and economic instability have hastened certain trends, but others, like the rise of online shopping as a share of total retail sales, are destined to stay. Let’s examine a few dozen figures on e-commerce that will assist you in planning for and making the most of the evolving online purchasing environment.

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23 eCommerce Statistics, Facts & Trends 2023

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Table Of Contents

eCommerce Market Statistics

1. In 2021, 78 percent of stores raised their funds allocated to online sales.

The widespread of COVID-19 highlighted the need for an efficient online storefront for companies. For this reason, Inmar reported that 78 percent of retailers intended to boost spending on e-commerce in 2021. E-commerce vendors are putting money into a few key areas: better fulfillment (51 percent), better online customer experience (48 percent), and supply chain diversification (38 percent).

2. To date, 69 percent of all media purchases have been made online.

Online sales of entertainment goods (such as books, albums, and films) far outpace those of physical stores. Online sales of entertainment products are over 70 percent higher than those of consumer gadgets and computers.

3. At present, there are 9.1 million internet stores around the globe, with the United States accounting for 2.5 million of them.

New online retailers appear daily, demonstrating the industry’s tremendous expansion. In 2022, there will be over 9.1 million online shops worldwide, with 2.5 million of them located in the United States alone, according to retail insights.

4. Forecasts for 2022 indicate a 14.1 percent increase in total retail e-commerce sales in the United States.

Forecasts for e-commerce growth in 2022 vary widely among retail industries, from 8 percent to 30 percent. The automotive and component industries had the largest growth, at 30 percent, followed by the food and beverage industry at 21 percent and the clothing and accessory industry at just over 15 percent.

5. In 2022, online sales in the United States are predicted to hit a historic high of 1 trillion USD.

 

By 2022, online retail in the United States is expected to break the 1 trillion USD mark in revenue. Until the epidemic, this amount was not expected to hit the trillion-dollar mark, according to Insider Intelligence.

6. By 2025, it is expected that e-commerce will account for 25 percent of all retail sales worldwide.

Insider Intelligence projects that e-commerce will increase from its current 19.6 percent of global retail sales in 2021 to 24.5 percent in 2025. Online retail sales in the United States are expected to reach 23.6 percent of the entire retail market in 2023, up from 11.0 percent in 2019.

7. By 2025, online purchases throughout the world will have more than doubled from their pre-pandemic levels.

At a worldwide valuation of 3.4 trillion USD in 2019, e-commerce was booming until COVID-19 and lockdowns slowed things down. As opposed to the 12.8 percent predicted growth by Insider Intelligence, e-commerce sales grew by 25.7 percent in 2020 and are expected to reach 7.4 trillion USD by 2025, more than double the size of the 2019 e-commerce industry.

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eCommerce Mobile Statistics

8. By 2025, it is expected that mobile commerce will contribute more than 44 percent of online retail revenue.

In 2021, mobile commerce retail sales reached 359.3 billion USD, up 15.1 percent from the previous year. Inside Intelligence predicts that by 2025, eCommerce sales will double to 1.98 trillion USD, making up 44.2 percent of all US retail online businesses.

9. By 2025, it is expected that 10.4 percent of all retail purchases will be made via mobile devices.

By 2025, eMarketer predicts that m-commerce (shopping done on a mobile device) will account for more than 10 percent of all retail sales. That’s a significant increase from 2021’s projected 5.9 percent growth.

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eCommerce Conversion Rate Statistics

10. With the use of augmented reality (AR), you can double your site’s conversion rate by a factor of 10.

According to research conducted by CameraIQ, including virtual try-on and product views on your website can increase conversion rates by as much as 10 times by simulating the in-store experience and providing customers with more confidence in their transactions.

11. Online stores typically have a 1.78 percent conversion rate.

Online stores have benefited greatly from the rise in popularity of “micro-moments” for shopping and the general growth in internet use. However, only a small percentage of these visitors end up making purchases, with the average e-commerce conversion rate sitting at a meager 1.78 percent. The greatest online sales conversion rates (4.91 percent) are for arts and crafts supplies. Next in line is “health & wellbeing,” at 3.46 percent, then “kitchen & home appliances,” at 2.9 percent.

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eCommerce Consumer Trends Statistics

12. The majority of buyers, seven out of ten, make purchases in “micro-moments.”

Consumers spend an additional 10 percent-30 percent of their time online as a result of the development of new technologies and the effects of COVID-19. As a result, 70 percent of consumers now report making spontaneous, brief, online purchases using mobile applications and devices during “micro-moments.” Three-fifths of these people regularly engage in “micro-moments” of buying.

13. 63 percent of American internet consumers do preliminary research for big-ticket items on the web.

While some internet shoppers can make big purchases on a whim, the majority (63 percent) of consumers report doing research before buying. The ability to surf around and examine several possibilities without making a final decision is a major benefit of purchasing online for bigger ticket items. According to Statista, for instance, phrases related to purchasing gadgets and home appliances are among the most. Even Nevertheless, the majority of customers still make their final purchases for these items in physical stores.

14. Over half (53 percent) of American customers have made online clothes purchase in the last year.

Clothing is the most frequently bought retail category online. About half of US customers (53 percent) had purchased apiece of clothing online in the last 12 months, according to a Statista study of online shopping in the country. After that came shoes (42 percent) and gadgets (30 percent).

15. Twenty-two percent of all US digital purchases in 2020 came from shoppers in the age range of 25 to 34.

Those between the ages of 24 and 35 made up the greatest demographic of online shoppers in the United States in February 2021, spending over 20 percent of all money online. Those between the ages of 35 and 44 made up 17.2 percent of all digital purchasers in the United States, making them the second biggest demographic.

16. Sixty-five percent of internet shoppers now stick inside their own nation when making purchases.

The worldwide trend of “localism,” or favoring local businesses, has been on the rise, as measured by Kantar’s COVID Barometer. Almost two-thirds of people in the study now favor shopping locally.

17. Seventy-four percent of American customers said they would continue to do most or all of their shopping online rather than in shops, even when the COVID-19 epidemic is ended.

Despite the fact that businesses are reopening and people are ready to go back to normal, most Americans have no intention of altering their buying habits as a result of the epidemic. Ship Station found that after the conclusion of the epidemic, the majority of Americans still prefer to do their shopping online. Despite the arrival of the “new normal,” it will be impossible to shake some routines.

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eCommerce Social Commerce Statistics

18. 54 percent of social media users in the United States report finding a new small online store using the platform during the last 12 months.

While there is a lot of competition online, there are also many opportunities to reach a wider audience. 54 percent of respondents in a poll conducted in 2021 reported learning about new, smaller ecommerce firms using social media in the previous 12 months. When taken along with the general public’s efforts to patronize and boost the fortunes of small companies, this bodes well for the future of e-commerce for mom-and-pop shops throughout the nation.

19. Social networking is the primary way that members of Generation Z find out about new businesses and goods.

The youngest and soon-to-be most powerful consumer generation, Gen Z, is also the largest demographic of social media shoppers. In fact, although social media is the source of product and brand discovery for people of all ages 55 percent of the time, it accounts for 78 percent of discoveries among the youngest generation, Gen Z.

20. 86 percent of companies say they will raise their spending on social media by at least fifty percent.

When it comes to using social media for commercial purposes, small companies are at the forefront. More than half of small firms (53 percent) expect their social budget to grow by between 50 percent and 100 percent in 2022, and a third (33 percent) expect it to grow by more than 100 percent.

21. 89 percent of shopkeepers think that those who don’t use social media will soon be left in the dust.

Retailers can’t afford to overlook the growing importance of social commerce. According to a recent poll by Sprout Social, over nine in ten company heads believe that stores that don’t fully embrace and benefit from social media would be left behind in the evolving consumer market. And customers agree; 62 percent say you can’t succeed as a brand without using social media.

22. In 2022, revenues from social media will reach 45.74 billion USD.

The percentage of online purchases made through social media platforms like Facebook and Twitter continues to rise. According to eMarketer’s projections, social commerce sales will reach 45.74 billion USD by the end of 2022, up 24.9 percent over the previous year.

23. Seventy-seven percent of customers are more likely to make a purchase from a company that is active on social media.

The use of social media by companies to build credibility and brand loyalty among their target audiences is rapidly expanding in the e-commerce sector. More than 75 percent of customers are more likely to purchase from a business having a social media presence, and following a favorable encounter with one of a brand’s social channels, 78 percent are more likely to pick that brand over a rival.

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FAQ

Q. What is eCommerce’s success rate?

According to the stats, 80 percent of online businesses fail. Insufficient familiarity with the marketplace and the needs of the intended clientele is the single most important factor in determining whether or not an online store will be profitable.

Q. How many users does eCommerce have?

The number of Online Shoppers Is Over 2,140 Million. The popularity of buying things online increases annually. Due to the widespread fear of the Covid 19 pandemic, more people than ever are turning to the convenience of internet shopping for necessities and luxuries.

Q. Who purchases goods on the internet the most?

When it comes to online purchases made in the United States, millennials make up the biggest demographic. 20.2 percent of all US internet customers were millennials in that age range in February 2020. The age group between 35 and 44 made up 17.2 percent of all US internet purchases, making them the second biggest online shopping demographic.

Q. Which eCommerce company is the largest?

The largest ecommerce company currently is Amazon.

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Conclusion

The introduction of COVID and the subsequent lockdowns brought about global transformation, and the retail industry was not immune to these shifts. Understanding the ecommerce environment, including its projected growth, purchasing habits, consumer behaviors, and the role of social media in retail ecommerce, is crucial as the number of individuals who choose to shop online continues to rise. Now that you have this knowledge at your disposal, you can deliberately and efficiently propel your online sales.

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