Know top online shopping statistics marketers should care about; While brick-and-mortar store sales are still higher than online stores, online stores are growing steadily. So, this is mainly due to the increased speed and convenience.
So, understanding the data behind online shopping will help you develop a strategic plan for your e-commerce business. And so, let’s see the top online shopping statistics marketers should care about.
General online shopping statistics
Let’s begin with some general online shopping statistics to give you an idea of how big the industry is.
So, due to the rapid growth of online shopping, the global online shopping market will reach about 4 trillion in 2020. We expect 300 million online shoppers in the United States by 2023.
That’s 91% of the country’s current population!
So, 69% of Americans have shopped online, and 25% of Americans shop online at least once a month. The majority (59%) of these shoppers purchased clothing items, and 47% believed their first item on Amazon.
But Americans aren’t the only ones shopping online. People all over the world know the benefits. According to Investp, the leading countries in terms of average e-commerce revenue per shopper are: US ($1,804) and UK ($1,629), Sweden ($1,446) and France ($1,228), Germany ($1,064), Japan (968 USD), Spain ($849). China ($626), Russia ($396), and Brazil ($350).
As of 2018, the global digital buyer penetration rate was 47.3%. However, when we look at the statistics by gender, the percentage difference between male and female shoppers isn’t breath-taking — 72% are female compared to 68% male.
So, the main difference between men and women is what they shop for. So, men usually go for heavy-duty items like furniture and computers, while women typically shop for groceries and clothing.
Growth of online shopping statistics marketers should care about
So, these statistics marketers should care about the number of online shoppers that has grown from 209 million in 2016 to 230 million in 2021. While technological advancements have changed the way consumers shop, the outbreak of the 2020 pandemic has magnified that change.
So, a Stackla report found that 67% of consumers said their online purchases had increased since the pandemic, and 27% said their online purchases had risen significantly.
So, with social media platforms offering advanced shopping features, it’s no surprise that shoppers are buying more online. On Instagram, for example, you can discover brands, browse their products, and make purchases without leaving the app.
This seamless shopping experience helps build an online-only consumer base. For example, a survey by Jungle Scout found that 46% of consumers only buy Christmas gifts online.
So, what does this mean for brands? This forces brands that focus more on offline campaigns to shift gears and redirect their attention to online consumers.
So, this data isn’t suggesting that you should now change your business model to an online-first approach. However, building a solid digital presence is key to staying relevant and competitive.
What drives online shoppers
So, according to Statista, the number of online shoppers has grown from 209 million in 2016 to 230 million in 2021. While technological advancements have changed the way consumers shop, the outbreak of the 2020 pandemic has magnified that change.
So, a Stackla report found that 67% of consumers said their online purchases had increased since the pandemic, and 27% said their online purchases had risen significantly.
So, with social media platforms offering advanced shopping features, it’s no surprise that shoppers are buying more online. On Instagram, for example, you can discover brands, browse their products, and make purchases without leaving the app.
This seamless shopping experience helps build an online-only consumer base. For example, a survey by Jungle Scout found that 46% of consumers only buy Christmas gifts online.
In the same report, 79% say UGC highly impacts their purchasing decisions, considerably more than branded content and influencer content.
Millennials’ online shopping statistics
Here are some interesting statistics about millennials’ online shopping behavior.
- 60% of millennials leave an e-commerce store without purchasing because the site has no customer reviews or photos. (Stackla report, 2021)
- Millennials have $2.5 trillion in purchasing power. (Ypulse, 2020)
- 30% of millennials will use “buy now, pay later” (BNPL) services in 2021, and 39.5% are expected to use them in 2023. (Statista, 2021)
- About 40% of millennials say they have formed new relationships (or strengthened existing ones) with companies that prioritize the environment. (Deloitte, 2020)
Mobile online shopping statistics
If you think mobile online shopping isn’t a big deal for a second, it’s interesting that 67% of users admit that they enjoy window shopping on their smartphones.
In addition, 77% of these digital window shoppers are on impulse purchases. And if you don’t get caught right away, 70% will come back and purchase from your device within 1 hour after viewing the product.
That’s why improving SEO helps you catch the buyer at the moment.
Mobile shopping is catching up with desktop shopping rapidly. It’s easy because people often go out. With mobile shopping, you can shop from anywhere you have the service.
For this reason, 49% of people use their mobile phones only for shopping. That is, 49% of the traffic comes from mobile users. That’s why it’s essential to optimize your website for mobile devices.
The growth of mobile shopping compared to fixed and desktop shopping is remarkable. By 2021, mobile is expected to dominate online sales, accounting for 54% of total sales.
Not only do people use their smartphones for online shopping, but 65% are looking for price comparisons when they are shopping in the store.
After checking the price comparison, 51% of the purchasers decided to purchase from a company other than the intended initial company.
Make sure your mobile site is up-to-date with prices and information and easy to find, as your store can be an alternative that shoppers rely on.
Abandoned shopping cart statistics
One reason for the shopping cart exemption is … Drumroll … It is an unexpected cost. But, an unexpected expense responsible for 56% of the entire customer application is reliable.
And for justifiable reasons, as soon as they make exciting purchases, they do not like to hit unpleasant surprises. So using this information will be honest and honest at all costs.
If honesty is not yours, you can lose a lot. With an average waiver rate of 68%, an e-commerce business can lose more than $ 3 billion annually. Other factors contributing to the abandonment of the cart include high shipping costs (43%) and the need to create an account before users can check out (23%).
But there are always ways to reduce cart abandonment for your business. First, send a follow-up email to abandon your cart, and the average open rate will be 45%. And of that 45%, 21% got clicks. That’s almost half!
You can then offer a discount on the items remaining in your cart to reduce the abandonment of your cart. Unfortunately, 54% of shoppers buy items in abandoned carts after seeing discounts on those prices.
Online shopping and technology statistics
Some trends emerged in 2018 and will continue to be popular in 2019. The chatbot is one example 60% of consumers have used chatbots to find answers in the last 12 months.
Chatboxes are also the recommended support channel for millennials; the main reason why chatbots are so popular is that speed is always part of the equation when people search for answers.
When people wait to talk to a service agent on the phone, it only takes 11 minutes before they hang up with frustration. On the other hand, the chatbot responds within seconds. Another popular trend is voice assistants.
If you have an iOS device, you’ve used Siri before. You may be surprised to find that voice assistants do 20% of Google searches. In addition, 27% of the world’s population uses voice chat.
The future of online shopping statistics marketers care about (Gen Z)
The oldest member of generation z comes from age, but their expenditure is not spraying. Marketing personnel must understand this generation and spending habits to maintain related things.
Born in 1998, this generation was expected to have $ 44 billion in purchasing power. To date, 93% of parents say that their children in GENZ affect their household budget. And a few years later, this generation will dominate 40% of all consumer racks.
And 95% of this generation have their smartphones that spend more than 10 hours a day. This gives you the potential to shop twice as mobile as millennials.
You spend most of your time scrolling Instagram and watching YouTube videos; surprisingly, Facebook has made a leap among teens, with usage dropping from 71% in 2014 to 51% in 2018.
Instagram is the recommended platform for the following brands: However, 85% of Gen Z are using one of these social platforms to find out about new products.
You can understand the market by remembering these online shopping statistics. So, then you can start optimizing your online store for maximum sales.
Conclusion
So, developing an effective marketing strategy for your online store requires understanding e-commerce statistics, trends, and consumer habits.
I hope this article helps you and the information it provides on how to get started with this strategy, and I hope you have found some of the answers you are looking for.
