When the Covid-19 pandemic hit, every business went remote and their buying and selling operations moved strictly to their website, making every person utilize online shopping more and more. This led to a huge rise in the e-commerce practices of every company around the world, to the point that even the businesses that didn’t have an e-commerce store yet, prioritized having one made for them to make their products purchasable for the audience that couldn’t visit brick-and-mortar stores any longer. With this rise, there were bound to be huge changes in the e-commerce industry, giving it a boost that no one had seen prior to the pandemic in 2020. So here are 50 of the most important stats since the growth of the industry till now, for you to take advantage of in 2021.
1. By the year 2040, it’s estimated that 95% of all purchases will be done through e-commerce.
2. 55% of online buyers tell friends and family if they’re dissatisfied with a website’s products.
3. 59% of millennials choose to go to Amazon for their shopping experience rather than any other online store.
4. Globally, credit cards are a more preferred method of payment (53%), followed by digital payment (43%), and debit cards (38%).
5. Only 2.86% of e-commerce website visits convert into a purchase.
6. Mobile commerce is expected to take 72.9% of e-commerce shares in 2021.
7. Around 51% of shoppers purchase stuff online through their phones.
8. There are over 2 billion digital buyers around the world.
9. A study shows that 28% of people choose not to shop when there’s no free shipping option available.
10. 41% of participants in a survey reported they choose not to order if the delivery time is too long.
11. Around 40% of retailers are using social media to generate sales.
12. Around 30% of participants of an interview reported they are much likely to purchase products through social media if they like it.
13. Around 55% of Gen-Z reports having purchased clothes after being influenced by social media posts.
14. Last year, businesses lost about %756 billion due to poor e-commerce personalization.
15. 57% of online shoppers purchase products from businesses located overseas.
16. The reason for B2B e-commerce platforms to have successful email marketing campaigns is the compelling nature of their content at each step,
17. Email marketing contributes to 20% of traffic driving e-commerce sales.
18. 60% of consumers report having shopped online as a result of an email they received.
19. Online stores with a social presence drive 32% more sales than those who don’t.
20. 85% of social purchases come through Facebook.
21. More than 70% of Instagrammers are more likely to visit a website after having seen its ad on the app.
22. 1 in 4 companies sell items via Facebook.
23. Online shoppers report social media highly influences their purchasing decisions.
24. 65% of consumers make price comparisons from their cell phones while standing in a physical store.
25. 54% of shoppers abandon their carts if they’re required to sign-up on the e-commerce store.
26. The product with the highest abandonment rate is clothing (40%), followed by tech (18%), and household products (16%).
27. Exit-intent pop-ups have helped recover about 53% of abandoning visitors.
28. 32% of buyers give up on a product’s worth in the physical store after having seen its specifications on their cell phones.
29. An average of 70% of abandonment rates means e-commerce websites could be losing a total of $3 billion per year.
30. Making CTA buttons can increase clicks for a website by upto 45%.
31. 63% of consumers believe coupons are the most valuable form of mobile marketing.
32. 65% of consumers cut ties with a brand due to a poor online customer service experience.
33. If you resolve a customer’s issues, they’re 70% more likely to come back to your brand in the future.
34. The probability of converting a new customer is 5-20%, while the probability of selling to an old one is about 60-70%.
35. If page-load time increases from 1 to 3 seconds, bounce rates can also increase upto 32%, on cell phones.
36. The average shopping cart abandonment rate is 68.8%.
37. Around 50% of shoppers report they abandon carts at checkout due to high costs.
38. Around 21% of shoppers abandon their carts due to the process being too complicated.
39. E-commerce websites can see an increase of 32.26% if they have a good checkout design.
40. E-commerce websites that load slowly have a shopping cart abandonment rate of about 75%.
41. 57% of consumers are more likely to engage with location-based advertising.
42. 71% of consumers with good customer service experience are more likely to recommend that website further.
43. The conversion rate is 5.5% higher for customers who click on a personalized product recommendation.
44. Competitive pricing and free shipping are two of the most important features people look into when searching for online retailers during holidays.
45. Conversion rates are 3x higher through mobile apps than mobile websites.
46. With over $1.935 trillion, China became the largest e-commerce market in early 2020.
47. With $586.9 billion, the USA has the second-largest e-commerce market.
48. 3 of the 6 largest e-commerce markets are situated in Western Europe; the UK with $141.93 billion, followed by Germany with $81.85, and France with $69.43 billion.
49. 71% of shoppers believe they’ll get better deals on an online store than the physical one.
50. India currently has the fastest growing e-commerce market.
These are all the e-commerce stats and facts you need to know about in 2021, especially if you’re planning on launching one for your own brand. With the growth of technology, it’s no surprise for the e-commerce industry to be growing at such huge numbers. So take advantage of this growth and make your own brand successful with your own e-commerce store.