It’s safe to say that eCommerce is here to stay. So what eCommerce facts affect small business owners the most?
With the rapid growth of online shopping, it’s hard for brick-and-mortar stores not to feel the pressure.
But even though more people are buying products online than ever before, there are still some common mistakes that store owners make when running an eCommerce business.
Here are ten important statistics about customer behavior – what they want in a website, who they trust the most with their purchase decisions, and how you can keep them coming back for more!
eCommerce Facts and Statistics About Shipping
1. One-third or 24% of customers spend more money to receive free delivery.
Customers are more likely to spend $100 or above when free shipping is offered.
In a survey, 83% of online shoppers said that free shipping is the most important factor when shopping for clothes.
2. When it comes to online shopping, 64% percent of customers state that delivery speed is extremely important.
According to a February 2021 Digital Commerce 360 by Bizrate Insights survey of 1,047 consumers, 68% percent said fast delivery would persuade them to buy online.
In a similar study, Bizrate also found that 30% of millennials surveyed stated that they’d choose a retailer offering same-day delivery over one with free shipping.
And when given the option, 88% of online shoppers are willing to pay for faster delivery when shopping online.
With expedited shipping revenue expected to increase, same-day delivery is one of the most significant hurdles for businesses to overcome.
3. According to the Baymard Institute, a survey of 44 e-commerce research papers published between 2006 and 2020 revealed that the average cart abandonment rate for internet users is 69.8%.
And among those online consumers who abandoned their shopping cart (49%) did so due to high shipping charges.
With all of these options for online shopping, you’ll need to know your customers and ensure they’re met with a fast process. Perhaps even one that’s free!
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4. 55% of online shoppers tell friends and family when dissatisfied with a product or company.
As the saying goes, good news travels fast but bad news travels even faster!
It’s critical to ensure that your existing clients are pleased with their online shopping experience on your site. Because if you don’t hear about a problem, you can’t fix it!
84% of online shoppers will not return to a store after one bad service interaction. If this happens enough times then they are likely to look for another place that has better service.
Make sure your website is easy to use, that you have good customer support, and are constantly improving the user experience and checkout process on your store!
As an eCommerce site business owner it’s important to make sure your customers feel satisfied when they purchase from you.
If not, then there’s a high chance they will never come back and take their online shopping somewhere else.
5. When users have to create an account before making a purchase, they are hesitant to do so – 23 percent of respondents will not create one.
Every barrier or additional step that online shoppers are faced with is another reason for them to abandon their carts and purchase their products and services elsewhere.
Offering an easy checkout process for your eCommerce site isn’t just about making it simple but also quick!
You can do this by offering guest checkouts or even allowing people to pay with PayPal™, Apple Pay®, or pick up in-store.
Being able to offer a quick checkout process is important for stores looking to grow their eCommerce sales revenue!
6. Consumers are more inclined to shop online since the COVID-19 pandemic began, with over half of them agreeing.
It should come as no surprise, but the COVID-19 pandemic has forever changed the world of online shopping.
Customers are now more than ever inclined to shop on their mobile devices and will often turn to social media for inspiration.
And since more customers are now shopping on their mobile devices, it’s important to make sure that your eCommerce site is optimized for mobile shopping!
Online stores that have the best possible user experience in mind not only generate more online sales revenue but turn their customers into loyal shoppers who keep coming back again and again!
50% of consumers who recently bought a product said they had done so without previously buying the same thing. According to eCommerce market data, some of the most popular categories include:
- Household items;
- Toys and sports equipment.
Social Media eCommerce Statistics
8. Around 19% of consumers worldwide use social media to inspire their online purchases.
This may not appear to be the most eye-catching of our eCommerce statistics, but 19% of the world’s population (1.5 billion individuals) is a significant number!
Instagram leads the way as the most popular social media platform for inspiring purchases, followed by Pinterest and Facebook.
“47 percent of shoppers say that Facebook has the greatest impact on what they buy.” – creatingawebsitetoday.com
We know that individuals spend considerable time on their favorite social media sites. If they are inspired by what they see, the next step might be to make a purchase – without even leaving their social networking page.
9. Before purchasing with a company, 84% of US customers will check a business’s social media presence.
Filling up your social media channels with high-quality material is critical for eCommerce growth and producing new leads. You have no idea who’s browsing and when.
10 Quick Fire Facts About eCommerce Growth
- Over 80% of the world’s online population has purchased goods and services on the Internet.
- There are over 24 million eCommerce sites on the internet.
- Around 70% of eCommerce traffic comes from Google.
- It’s critical for almost two-thirds (63%) of internet shoppers to know the anticipated or guaranteed delivery date.
- 71 percent of consumers feel that by purchasing online rather than in person, they can get a better bargain.
- Conversion rates for eCommerce websites are about 2.86%.
- Mobile users account for 70% of all eCommerce site visits.
- In more than two-thirds (or 70%) of mobile searches, consumers make a decision to buy within an hour.
- By 2022, global eCommerce sales are anticipated to reach $6.54 trillion.
- The eCommerce sector is expanding at a rate of 23% per year, but only 46% of small businesses in the United States have a website. (BigCommerce)
Customers are more inclined to purchase online than ever before. It’s important that you provide the best possible user experience for your site or shoppers will go elsewhere!
What You Can Do About eCommerce Statistics Right Now
If you’re not sure where to start, consider these top three ways of driving up eCommerce sales revenue:
- Offer guest checkout to remove the barrier of creating an account.
- Create a mobile-friendly site that’s optimized for eCommerce and generating more online sales revenue.
- Encourage customer reviews on products with social sharing widgets such as Facebook Reviews, Google Product Listing Ads (PLA), etc. This will help generate new leads!
The future is clear: online shopping is on the rise and will continue to grow exponentially.
Which of these eCommerce stats has got you thinking differently about your eCommerce website? Let us know.