The Ultimate List of Ecommerce Statistics for 2024

Ecommerce is not just an option or strategy for businesses; it has become a necessity. A few years back, ecommerce might have been about cross-border commerce, borderless business, and international online retail. However, today, it is the fastest-growing retail channel globally.

More and more customers are turning to online shopping YoY. Some retailers have stepped up to the challenge by embracing new technologies like online store builders to open their online stores and using the best ecommerce CRM tools to understand online shoppers better.

Still, most startups and big-box online businesses do not know how to take advantage of their ecommerce business, given the ever-changing behavioral changes in shopping habits and not being able to take advantage of emerging technologies.

And that is why we have compiled this guide on the latest ecommerce statistics. This guide contains 18 up-to-date ecommerce statistics to help online sellers understand the ecommerce trends, the current market, the shopping behavior of customers, technologies that benefit online retailers, and more ecommerce strategies.

General Ecommerce Statistics

1. Ecommerce sales is forecast to account for 21% of all global retail sales in 2022 and 95% by 2040.

(Statista)

Ecommerce sales worldwide amounted to approximately US$ 4.9 trillion in 2021, expected to reach US$ 5.55 trillion in 2022.

Moreover, ecommerce sales are forecast to grow by 50% over the next four years, amounting to US$ 7.39 trillion by 2025. It will exhibit a CAGR of 27.4% during the forecast period (2022 to 2025).

Back in 2019, global ecommerce sales accounted for 17.8% of all retail sales, and as many as 1.92 billion (a quarter of the world population) people purchased products online. For context, the ecommerce industry witnessed a 17.9 percentage point increase in just two years.

2. US customers spent US$ 870.78 billion on online sales in 2021, a 14.2% increase compared to 2020. Plus, US ecommerce sales accounted for 19.2% of all retail ecommerce sales.

(Business Wire, US Commerce)

The US Department of Commerce ecommerce statistics highlight that American customers spent US$ 762.12 billion on online purchases in 2020, 31.8% higher than in 2019.

Nevertheless, the ACSI (American Customer Satisfaction Index) declined to its lowest since 2015. Between 2016-2018, the ASCI score was 80+ (on a scale of 100), but the ACSI score fell to 78 in 2019.

When looking at the ecommerce websites individually, Amazon’s customer satisfaction score was at an all-time low of 79 (4% down from the previous year).

Apple’s ACSI score fell to 75 by 4%. Costco (down 1%), Etsy (down 2%), and Newegg (down 1%) — all saw a dip in their ACSI scores.

It is also crucial to note that both online sales and in-store purchases grew at roughly the same rate since the pandemic in the US.

Mobile Ecommerce Statistics

3. 53.9% of customers use smartphones for shopping online.

(Business Wire, Statista, Forbes)

Over 67% of smartphone users have downloaded a mobile shopping app. Moreover, at least 79% of smartphone users have acquired goods and services from their mobile devices in the last six months.

• 76% of customers shop via their smartphone devices because it saves time.
• 70% of mobile searches lead to action from users within an hour. On desktop, users can take up to a month to decide. (Forbes).

Additionally, global mobile commerce doubled between 2018 and 2021. In fact, in 2021, 72.9% of all digital purchases were made via mobile devices.

Statista’s mobile ecommerce stats reveal the total mobile retail sales worldwide amounted to US$ 3.56 trillion in 2021. A 25.4% increase over 2019’s US$ 2.32 trillion.

4. 4 out of 5 internet users in the US have used their mobile device to shop online.

(Statista)

Statista’s mobile commerce statistics indicate that the number of mobile shoppers in the US will exceed 187 million by 2024.

Furthermore, the Millennials and Gen-Zers are more likely to purchase online via smartphones than the Gen-Xers and Baby boomers. Some 30% of people aged 18-24 prefer to shop online via mobile devices.

Some 43% of people aged 25-34 say they are more likely to shop online from mobile devices, implying that the newer generation prefers mobile shopping.

Additionally, 33.6% of in-store buyers will review the online prices for price comparison.

This means that ecommerce retailers need to advertise their products, so it appears on Google’s shopping search results. (90% of customers will click on a product that first appears on the Google result).

5. Online shoppers spent 4.2x more time on mobile apps than mobile sites, 1.5x more than desktops.

(Readycloud, JMango360, Business Insider)

Moreover, mobile apps also lead to 3x more conversion than mobile sites and 1.2x more conversion than desktops.

Since 2010, the number of mobile digital buyers has been increasing rapidly. Business Insider’s report revealed that m-commerce volume would advance at a 25.5% CAGR (compound annual growth rate) between 2019 and 2024.

Back in 2015, time spent on ecommerce platforms was split evenly (44% vs. 45%) between mobile users and desktop users, while tablet users took up only 11%.

In addition, hypothetically, a retailer with annual revenue reaching up to US$ 20 million could lose up to US$ 1.4 million in revenue by not implementing a mobile app.

6. Cart abandonment rates are higher among mobile users (85.65%) than tablet users (80.74%) and desktop users (73.07%).

(Baymard, CreditDonkey, SaleCycle)

Baymard’s online shopping cart ecommerce statistics estimate the average cart abandonment rate to be 77.24% (across all industries). This means that 7 out of 10 online shoppers do not go through with the purchase.

Shopping cart abandonment rates are higher among mobile users because most websites aren’t optimized for mobile. CreditDonkey also lists “poor site-loading speed,” “excessive information,” and “not keeping the critical information above the fold” as the top reasons that lead to cart abandonment.

According to SaleCycles’s shopping cart ecommerce statistics, customers are more likely to abandon carts between 1 pm and 2 pm and 6 pm to 9 pm. Weekends and Thursdays also have high cart abandonment rates.

The top reasons stated by customers for abandoning the purchases online are:

• 48% of online shoppers abandon their carts because of extra costs (shipping fees, tax, and service fees) being too high.
• 24% of digital buyers said they do not want to create an account to purchase from the online store.
• 22% said delivery (estimated time) was too slow.
• 18% said they don’t trust the site with their sensitive or financial information.
• 17% abandon their carts because of complicated checkout processes.
• 9% cited a lack of enough payment methods on the ecommerce sites.

So, ensure to accept multiple payment methods by utilizing the best credit card processing companies and look into mobile credit card payment options too.

Ecommerce Statistics: The Ecommerce Platforms

7. There are over 12 million – 24 million ecommerce websites on the internet.

(KammandoTech)

And only less than one million ecommerce businesses make US$ 1000 or less per year.

In the first year of setting up an online store, an average ecommerce site can make up to US$ 63,000 in monthly revenue. After a year, an average ecommerce site can make up to $127,000 in monthly revenue. (Approximately 175% year-on-year increase).

Nevertheless, 59% of customers are more likely to visit a giant online retailer like Amazon when shopping online.

Needless to say, it is the large ecommerce marketplace like Amazon that accounts for 41% of all online sales in the US. Walmart (6.6%), eBay (4.2%), and Apple (4%) are the other leading online businesses in the US.

However, Alibaba (combined with Tmall and Taobao) dwarfs Amazon in terms of global ecommerce sales. In fact, the global gross merchandise value of Alibaba’s share (25) is almost 2x more than Amazon's 13 GMV share.

8. WooCommerce (33.20% market share) and Squarespace (14.45%) are the most popular ecommerce software platforms on the internet.

(Datanyze)

Ecommerce software platforms are the technology that allows online retailers to manage inventory and facilitate online store processes.

Datanyze’s report on the ecommerce industry highlights that WooCommerce and Squarespace occupy more than 48% of the market share. WooThemes (14.01%), Shopify (10.27%), and WixStores (5.99%) are the other key players in the ecommerce market.

9. Online businesses using a CRM tool can increase their retail sales by 29%.

(Salesforce)

Only 1.94% of the ecommerce website visits lead to conversion. (Average of all industries).

92% of customers do not purchase a product when visiting the ecommerce website.

Plus, 45% of ecommerce website visits are related to simply finding a product. 25% of customers visit online stores to compare prices and other variables.

At the same, at least 1 in 10 customers come to find the local store details.

However, retargeting the website visitors makes them 43% more likely to purchase from a particular ecommerce site. Additionally, 70% of customers are more likely to purchase from a particular online retailer over other competitors if they see online ads from the vendor.

That is to say; reliable CRM tools can help ecommerce businesses store customer data and retarget them to increase their online sales.

Equally important to note, CRM statistics report the average ROI for CRM is expected to be US$ 30.41 for every dollar spent. Moreover, you can also lead other marketing campaigns by sending them regular email marketing messages based on the data generated via CRM.

10. 61% of online consumers say search and navigation are the most important element of online shopping.

(Statista)

This is no surprise as search and navigation attributes on an ecommerce website make it easy to find products.

• 51% of online shoppers say product reviews and ratings are important in online stores, as it helps make their purchasing decisions.
• 50% of digital buyers emphasized that the most important attribute is a fast and quick checkout process.
• Additionally, 53% of online consumers say “overall page speed and responsiveness” is the most important element of the shopping experience to them.

Moreover, 29% of customers say the ability to check inventory is the most important element of online shopping to them.

Still, 1/3rd of the businesses miss deadlines because of selling an item that isn’t in stock. Timely delivery is critical because 70% of customers who receive late packages do not purchase from the same online store again. For this purpose, businesses should use technologies like inventory management software and ecommerce platforms for clear inventory valuation.

11. 0.1 seconds improvement in site speed leads to an 8.4% increase in conversion, and increase in average order value by 9.2%.

(Deloitte)

Customers are more likely to recommend an online store to friends if the site load time decreases from 13 seconds to 10 seconds. In fact, even the retail website owners believe that they have only 2-3 seconds to engage shoppers.

At least 70% of customers say that page speed influences their decision to make a purchase. Moreover, page speed matters to customers over animations (56.6%), videos (52.8%), and photos (24.1%).

Also, 59% of customers say they are willing to pay more for a great customer experience.

Ecommerce Statistics: Habits and Characteristics of Online Shoppers

12. 80% of consumers are more likely to purchase a product when offered free shipping. “Free shipping” tag increases conversion rates by 50% and online sales by 10%.

(SmallBizTrends, HubSpot)

66% of customers expect free shipping on every online purchase. 80% say that online shops should offer free shipping when ordering above a certain dollar amount.

Moreover, a Statista survey highlights that 62% of customers said free shipping is one of the most important factors influencing them to shop from a particular ecommerce market.

Other reasons that influence customers to buy from a particular online retail landscape are:

• 70% said online deals and competitive pricing.
• 50% said a wide selection of products.
• 64% of customers are more likely to purchase if the retail websites offer free exchange and return.

In all, offering free shipping increases conversions and revenue.

13. 91% of customers are more likely to purchase from a brand that recognizes, remembers, and provides relevant recommendations and offers.

(BigCommerce, Accenture)

46% of customers leave the ecommerce site if the content is not personalized. On-site personalizations can increase revenue by 25%.

Accenture’s report on marketing campaigns highlights that 83% are willing to share personal data for a personalized experience. Still, 73% of customers say they have never received a personalized experience from online stores.

Additionally, 79% of customers say they are less likely to purchase from an online retailer using poor personalization tactics. Also, 58% stop purchasing from a brand because of poor customer experience.

That is why ecommerce sites must use reliable tools like sales CRM tools to identify a sales lead better and gain visibility on all sales opportunities during marketing campaigns.

Ecommerce Statistics: Role of Social Media and Marketing Channels

14. Only 54% of online stores have multichannel capabilities. As much as 95% of online businesses do not know the importance of multichannel marketing.

(BigCommerce, Stitch Labs)

Omnichannel or multichannel capability refers to selling and communicating via multiple platforms, for instance, promoting via Instagram advertising post, selling via Facebook Store, and communicating through email marketing message.

Stitch Labs estimates that vendors selling on two online marketplaces see 190% more revenue than those with only one online store.

There are other benefits to multichannel marketing; for instance, the average open rate of a follow-up email marketing message after cart abandonment is 41.0%.

So, businesses should strategize and connect all the services online, especially social channels. For example, businesses can send automated emails via reliable email marketing tools to the customers who abandon their carts.

On a side note, email marketing statistics highlight that email marketing yields an ROI of US$ 44 for every dollar invested.

15. 74% of customers rely on social media for their purchasing decisions. 78% of customers are influenced by the company’s social posts.

(SearchEngineWatch, Forbes)

Moreover, customers are 6x more likely to purchase if the vendors attached a product image on their page.

At least 31% of customers rely on social media to find items to buy. 29% of customers that discovered a product on social media will purchase it on the same day. Additionally, 81% of customers are more likely to buy a product if their friends share it on social media sites.

Once again, the Millenials are 1.6 more likely to search for a product on social sites than Baby Boomers and Gen-Xers. Still, only 40% of online marketers rely on social media for sales, and 26% rely solely on Facebook.

Also, SearchEnginerWatch’s social media ecommerce statistics highlight that Facebook accounts for more than 50% of all social referrals. Plus, Facebook accounts for 64% of all revenue generated via social sites.

However, the average order value is the highest in the case of Instagram (US$ 65). For Facebook, it is US$ 55, US$ 46 for Twitter, and US$ 38 for YouTube.

16. 54% of US customers have discovered a small business via social media in 2021 alone.

(eMarketer, Business Insider)

90% of users on Instagram follow at least one brand. Nearly 70% of Instagram users turn to Instagram for product discovery.

As much as 93% of users turn to Pinterest solely for purchasing a product. Note that Pinterest’s user base is 6.5x less than Twitter’s; still, it drives 16.5% of total retail sales generated via social referrals.

However, HubSpot’s social media ecommerce statistics report that only 50% of online marketers are planning to increase their social spending.

Moreover, 19% of marketers don’t know how to track social media effectiveness; however, it takes as little as social media management tools to track engagements and leads.

Businesses must realize the importance of social media presence, given that 53% of the world’s population is on social media.

17. Younger generations prefer searching for a product on social media platforms (52.3%) than search engines (51.3%).

(Hootsuite)

The younger generation (aged 16-24) prefers social media platforms to know about a product.

Also, 64% of customers prefer messaging via social media rather than calling vendors.

Moreover, even marketers are confident about quantifying the ROI of social media, with 83% considering it as a “good investment.”

Ecommerce Statistics: Ecommerce Trends That Are Powering Online Retail Forward

18. 3D models on product pages increase conversion rates by 250%. 44% of customers are more likely to add the product to their cart, and 27% are more likely to purchase it.

(Shopify)

3D models also increase the time spent on a page by up to 21%. Plus, customers are 35% less likely to return a product.

Additionally, 35% of customers will frequently shop online if they can virtually (via AR) try the product. Plus, 22% are less likely to visit a physical store.

Furthermore, chatbots for customer support, voice search, and AI are other major focus areas of the present online businesses.

What Do These Ecommerce Statistics Mean for Your Online Business?

Clearly, the world is moving towards digital as the internet access rate is increasing every second. And while the pandemic has triggered online shopping behaviors, global internet users appreciated shopping online even before.

However, the time for ecommerce is now, and it is critical. Moreover, given anyone can bring their business online with the help of ecommerce website builders, it is easy to open online shops.

Nevertheless, as underlined earlier, online businesses should also embrace the technologies that allow them to connect with the customer, as customer experience matters to the users more than anything. (ACSI fell to 79).

Moreover, social shopping is a serious thing now, accounting for 3.4% of all ecommerce transactions. So, social media presence is not an option anymore.

Additionally, post-pandemic ecommerce is preferred omnichannel, and it is a requirement for survival.

Source

1. Statista: Retail e-commerce sales worldwide
2. Business Wire: ACSI Data Show
3. US Commerce
4. Business Wire: M-Commerce Accounts
5. Statista: Mobile E-commerce
6. Forbes
7. Statista
8. ReadyCloud Suite
9. JMango360
10. Business Insider
11. Baymard
12. CreditDonkey
13. SaleCycle
14. KammandoTech
15. Datanyze
16. Salesforce
17. Statista
18. Deloitte
19. SmallBizTrends
20. HubSpot
21. BigCommerce
22. Accenture
23. BigCommerce
24. Stitch Labs
25. SearchEngineWatch
26. Forbes
27. eMarketer
28. Business Insider
29. Hootsuite
30. Shopify

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