E-commerce statistics allow you to have a good understanding of the industry, allowing you to adapt your business strategies to match the recent trends better.
E-commerce has been around for a while and with each day, it is still scaling at a fast pace. In this ever-evolving industry, staying on top of the latest trends is crucial if you want to be ahead of your competitors.
With every year, brands are spending more and more on optimizing their e-commerce operations, giving them the edge and allowing them to keep up with recent happenings.
That being said, an e-commerce business involves various working elements, like order fulfillment, shipping schedules, customer support, and marketing initiatives. So, you need to be up to date with the latest statistics and adjust your business strategy accordingly.
That’s why, in this post, I have curated a list of e-commerce statistics, spanning across various aspects of e-commerce, ranging from general statistics to mobile marketing ones. So, without further ado, let’s jump into it.
1. According to projections, the worldwide e-commerce market is expected to reach $7.4 trillion by 2025.
2. If that number is attained, that means the revenue share of e-commerce in global retail sales would skyrocket to 74% on top of the sales made in 2020 which generated $4.2 trillion.
3. On top of that, digital commerce is rapidly gaining popularity. So, much so, that 85% of worldwide shoppers use online stores to buy their products. This amounts to 24% of the global retail sales, showcasing that e-commerce is becoming a go-to choice for people to
4. With the increased penetration of mobile technology in developing nations, e-commerce is the most popular way for customers to shop in Asia. With 78% of total e-commerce sales coming from Asia and around 44% coming from North America.
5. Speaking of Asia being the biggest market for e-commerce, China holds its domination with almost 50 percent of global e-commerce sales coming just from there. In second place is the United States with a share of 20%.
6. E-commerce is gaining popularity in the Middle East with Turkey leading the charge with the expected growth of almost 11.6% CAGR from 2024 to 2029. Brazil is close behind with 11.5% CAGR.
Knowing the behavior patterns of customers worldwide, you can implement a personalized e-commerce strategy to engage them to drive conversions.
1. In the world of e-commerce, Amazon is a well-known brand with almost 80% of shoppers starting to look for the products they need from there.
2. Customers want prompt replies from online brands, and the ones that fail to deliver that experience, have a chance of losing repeat sales. Up to 87% of shoppers completely ignore or spend significantly less time on websites that take too long to respond.
3. If you have a younger target audience, then social commerce can be a way to increase customer engagement. GenZ and millennials have better engagement rates compared to older customers.
4. D2C or direct-to-customers is a popular segment of e-commerce, and 43% of GenZ customers prefer this business model over traditional online shopping. Europe and Australia are among the top places for these kinds of sales.
5. E-commerce businesses are using various kinds of tactics to drive business. Buy Now, Pay Later is one of those methods where you can get the product and pay for it in installments. The BNPL transactions are projected to go over $800 billion dollars by 2028.
When it comes to e-commerce, the standing of the online platform can greatly influence the purchase decision. For example, as I have said above, customers prefer to make repeat purchases from the platforms they know and trust.
1. Amazon is one of the biggest e-commerce platforms in the world consisting of over 14% of PC customers, over 4x the visitors of eBay.
2. More than 82 percent of the site’s visitors come from the major five countries consisting of India, the United States, the United Kingdom, Canada, and Japan.
3. In the e-commerce industry, fashion and electronics are the two verticals that equal almost 70% of the total online purchases.
4. Apart from Amazon which is a standalone platform, WooCommerce owns the biggest share of the overall e-commerce stores, equaling 42%. Following that is Squarespace with 15.3% and Shopify with 11.5%.
5. The e-commerce market in the US alone generated sales of around $925 billion in the year 2023.
6. In addition to the large number of sales, almost 82% of internet users from China buy something online, showcasing the high rate of e-commerce dominance.
With the onset of social media platforms and the mammoth user base, e-commerce brands have been utilizing them to constantly drive traffic and generate sales.
1. Around 33% of international customers look around social sites to conduct their initial research before thinking about making a purchase.
2. 95% of customers research on a minimum of one social media platform prior to making a purchase.
3. Social media giant Facebook still stands as the leader among e-commerce channels. With 65% of customers citing Facebook as the top platform that leads to conversions down the line.
4. Visual platforms that focus on more graphical content like Instagram are the go-to choice for a younger target audience. With its 1.4 billion active monthly users and 130 million actively browsing the posts with the intention to purchase, Instagram has become a major social media platform among e-commerce businesses.
5. Social media channels play a huge role in generating sales for e-commerce brands. For instance, 23% of customers in the USA itself, utilize social sites to buy a product once a week. If we talk about it on a monthly basis, this number goes as high as 49%.
6. The value of e-commerce sales conducted via social media has hit the mark of $3.57 trillion in the year 2024. This goes to show that social media sites have become an integral part of e-commerce and you need to incorporate them into your e-commerce marketing strategy to boost your sales.
7. Social media influences the purchase decisions of 74% of online shoppers in the U.S.
Gone are the days when people used to shop online just via their desktops and laptops. Smartphones have become one of the most used devices, and people use them to browse online platforms and place orders.
For this reason, let’s take a look at how mobile devices affect e-commerce business and whether you should be paying attention to them to scale your online store.
1. The revenue generated from mobile devices is projected to hit $710 billion this year. It is 4x more than the sales resulted in the year 2019 and a boost of 20% from 2023.
2. The US is the top market when it comes to mobile-commerce with more than 44% of the total e-commerce sales coming from here alone valuing around $1.2 trillion dollars in revenue in 2024.
3. Almost 32% of American customers have used their mobile devices to get something online once per week. While this number is 21% for desktops and only 9% for tablets.
4. Although mobile devices have higher usage compared to desktops and tablets, they are still behind in terms of conversions. Smartphones offer a conversion rate of 2.3% in contrast to the 3.2% of tablets and close to 4% for computers.
5. The participation of women in m-commerce has also increased greatly in recent years. In fact, around 75% of female customers make use of their smartphones in comparison to 63% of men.
6. Customers prefer online wallets rather than traditional payment methods like cards or cash on delivery. So much so that these wallets will control 61% of the entire e-commerce payments share by 2027.
Although the e-commerce market is growing in size each year, there are some hurdles when it comes to getting more sales.
1. Discounts are the biggest drivers of sales. Almost 53% of shoppers like to purchase products straight from a shop but at a discounted cost.
2. The biggest elements that influence leads to make a purchasing decision are free and quick shipping offers.
3. Live chat is another great influencer to get more sales. It showcases your commitment to providing timely customer service and allows you to build strong customer relationships. 38% of visitors are more inclined to buy and 51% to make repeat purchases if your website offers live chatting capabilities.
4. In general, more than 70% of items are added to the cart and left behind without completing the checkout process. It goes to show that if you want to run a successful e-commerce business, then manage your abandoned carts and get customers to come back to finish their purchases.
5. E-commerce personalization is becoming a growing trend to drive customers and compel them to buy your products. In fact, 74% of e-commerce brands have implemented a personalization strategy.
The e-commerce industry has established itself as a huge market. It allows your customers to get your offerings from wherever they are, without requiring them to visit your store physically.
By leveraging these e-commerce statistics, you can stay on top of recent trends and changes occurring in the e-commerce world and equip yourself with the knowledge to steer your brand in the right direction, enabling you to achieve long-term business success.
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