46 Awesome Ecommerce Statistics & CRO Hacks to Know in 2023
Published: January 21, 2022
Consumers love convenience. This fact, along with today’s internet-enabled ease of access has made eCommerce a go-to for shoppers worldwide. From retail giants to small businesses, a presence in eCommerce has become indispensable in light of the world’s 4.6 billion active internet users.
But where is eCommerce heading? What’s the market like now? Check out the eCommerce statistics below to get an overview of the current state of affairs and gain insight into the industry’s future.
Important Ecommerce Statistics & Facts
- More than a quarter of the world’s population bought something online in 2020.
- The largest eCommerce market today is China, with $672 billion in annual online sales.
- Credit cards are the most popular means of payment worldwide.
- The average consumer spends over 5 hours daily on their smartphone.
- Voice shopping is most likely to reach over $40 billion in 2022.
- The total eCommerce retail sales will reach $4.9 trillion by 2021.
- Ecommerce growth statistics indicate that revenues in the United States will reach $479 billion by 2022.
- The mobile payments market will grow to $4.5 trillion by 2023.
- In 2023, the US will generate $25 billion in live stream shopping revenues.
- Having an omnichannel brand presence is a must from this year onward.
For more valuable information, take a look at the following infographic we’ve designed for you!
General Ecommerce Statistics 2022
1. More than a quarter of the world’s population bought something online in 2020.
Before any global lockdowns started, it was estimated that there would be 2.05 billion online shoppers in 2020. However, due to the Covid-19 pandemic that restricted brick-and-mortar shopping, this number is likely much higher.
Namely, experts predict that the number of online shoppers will rise to at least 2.14 billion by the end of 2021.
2. What percentage of sales are online? Globally, eCommerce sales accounted for 17% of all retail sales in 2020.
(Source: The Wall Street Journal)
GroupM predicted that the global eCommerce sales would reach 17% in 2020, an equivalent of $3.9 trillion. If the trend continues, GroupM expects the figure to reach 25% or $7 trillion by 2024. Moreover, the figure may reach $10 trillion globally by 2027.
The eCommerce statistics for 2020 changed due to Covid, which forced people to stay at home and change their shopping behavior.
3. 69% of Americans are online shoppers.
Unsurprisingly, 69% of Americans shop online, and 25% of them do it at least once a month. Around 59% of the items they bought online are clothing items, and 47% of them bought their first items on Amazon.
But the US is not the only country with so many online shoppers. According to the eCommerce statistics for 2021 in the US and the rest of the world, the average revenue per shopper in the States is $1,804, the UK follows with $1,629, and Sweden with $1,446.
4. The current global eCommerce conversion rate is 2.5%.
Conversion rate is the percentage of site visitors who converted to shoppers. When utilized properly, it’s an excellent tool to measure the performance of an eCommerce site.
According to the recent eCommerce statistics, the global eCommerce conversion rate is 2.5% across all devices. Of course, all businesses have a different conversion rate, and Amazon is in the lead with 13%.
5. In the United States, the most that consumers are willing to spend on a single purchase is $922.
(Source: BigCommerce / Astra)
As far as spending habits go, KPMG’s Global Online Consumer Report found that men spend more than women. Surprised? We were too. But the eCommerce stats don’t lie. Men spend an average of $220 per transaction, whereas women spent an average of $151. The report explains why: despite shopping frequency being pretty much the same for men and women, men more often bought luxury goods like electronics, while women typically went for cheaper purchases like makeup or food.
A word of caution, though. When shopping online, watch out for eCommerce frauds, such as pagejacking and identity theft, accounting for 71% of all eCommerce frauds.
6. According to eCommerce growth statistics, Amazon’s traffic exceeded 2.4 billion website visits in 2020.
Amazon’s traffic is only one of many reasons why Amazon’s status as a powerhouse in eCommerce is indestructible. Even more so, in only a little over a decade—from 2007 to 2020, the retail giant’s revenue went from $3.02 billion to $96.15 billion. That’s well over a 1,000% increase!
7. China currently dominates as the largest eCommerce market with a $672 billion annual online sale.
The demographics of online shoppers revealed that the US now comes only second to China. Today, the latter is now the world’s largest eCommerce market, an industry dominated by the US for more than a decade.
With an annual growth rate of 35% and around $672 billion in online sales per year, China doesn’t look like it will slow down any time soon. Conversely, the US is left behind with only $340 billion in annual online sales. Moreover, China’s eCommerce growth trends appear to be consistent.
8. The international B2B eCommerce market is worth over 5 times more than the global B2C market.
In 2019, global B2B had a $10.6 trillion valuation. The APAC (Asia Pacific) region leads off with an 80% market share. Currently, the two key players in the B2B arena are Amazon Business and Alibaba. Despite having only an 8% share of the retail sales, B2B eCommerce in the United States accounted for $5.8 trillion.
Ecommerce Consumer Trends
9. What age group shops the most? Gen X-ers and Millennials, it turns out, spend the most time shopping online.
Specifically, they spend six hours total every week. That’s two more than Baby boomers and three and a half hours more than seniors overall. What do they buy? Well, perhaps the better question is what don’t they buy. There’s a downward trend in the sales of music and other entertainment media due to the availability of streamed content so, that must be it.
10. Cross-border online shopping is on the rise, with a worldwide average of 55%.
We can expect that the eCommerce trends in 2021 will continue to favor cross-border online shopping as it is already booming right now. Data shows that 55% of online shoppers worldwide have purchased from online shops in the last 12 months. Much of the sales were due to the global Covid-19 pandemic when the global discretionary sales increased to 21% YoY in Q2 of 2020 alone.
11. Around 92% of consumers abandon a brand due to poor customer experience.
Customer experience plays a pivotal role in maintaining brand loyalty. Retail shopping statistics indicate that this fact applies to both physical and online retail shops, although it’s more crucial for the latter since there are no personal interactions.
A survey shows that one out of three shoppers will leave a brand after only one bad customer experience, while two to three will make 92% of customers abandon a brand entirely.
12. The current global cart abandonment rate is on average 69.80%.
(Source: Baymard Institute)
The Baymard Institute arrived at this value by calculating 44 different studies and valuable eCommerce statistics regarding shopping cart abandonment. According to this study, the eCommerce industry is not entirely to blame, since the number one reason people abandon their carts is that they were not ready to buy yet.
However, it doesn’t mean that we can ignore it, since most of the other reasons directly point out to the company, such as high fees, customer experience, long buying process, and shipping fees. In fact, the shopping cart abandonment statistics and facts state that 73% of customers will buy products that offer free shipping.
13. On the upside, though, three follow-up emails for abandoned carts have a 69% chance of turning into a purchase.
The eCommerce stats derived from the latest email marketing statistics reveal that three abandoned cart emails generate 69% more chances of customers completing their purchases. This is primarily because such customers already have a high buying intent.
It just takes that timely little push to get them back on track, and amazingly, doing so generates even higher profits than the customer’s original shopping session.
14. eCommerce facts reveal that a whopping 92.2% of shoppers prefer transactions in home currency.
CSA Research conducted a study that discovered that a third of shoppers have professed that they would abandon their shopping carts if a listing isn’t wasn’t their home currency because almost everyone prefers to use home currency when shopping online. In a world of customization, it’s clear consumers have become accustomed to a certain level of convenience. And this brings us to our next key statistic:
15. Purchase experience drives 53% of customer loyalty, according to online shopping statistics.
It takes much more to provide a good experience for today’s consumers, especially now that the majority is shifting to omnichannel shopping. From mobile devices to desktop to brick-and-mortar stores, it’s up to brands to make their presence felt across different platforms while still offering customers the range of options they’re used to.
16. A global survey revealed that 53% of consumers prefer to pay with their credit cards.
Meanwhile, eCommerce statistics for both Chinese and Western European consumers show that digital payment systems are their preferred way to pay. Chinese users’ payment staples are AliPay and WeChat Pay. Interestingly enough, these aren’t just the systems they use for online shopping. “Cash or credit?” at the register is pretty much a nonexistent phrase in China—consumers can now readily make payments with their phones using these two systems’ mobile apps.
17. Demographics of online shoppers show that younger consumers are less inclined to make purchases using their credit cards.
Worldwide, credit card payments are the most common overall, followed closely by Paypal. But there are many other options out there. In Asia, the preferred payment systems are WeChat and AliPay. Interestingly, in India, shoppers lean toward cash on delivery (COD) payments instead. Meanwhile, in the Netherlands, no self-respecting e-shopper buys from an online merchant that doesn’t offer the payment system iDeal.
Mind-boggling m-Commerce Statistics
18. It was estimated that mobile commerce would make up almost 50% of all eCommerce sales in 2020.
This astonishing figure demonstrates how quickly mobile has penetrated the market worldwide. It will not be surprising if the final report confirms the projection that 49.2% of all eCommerce sales in 2020 came from mobile devices. For this year, the number is even higher, at 53.9%.
In fact, the eCommerce trends from 2021 insinuate that mCommerce will continue to grow, since over 51% of buyers use their mobile devices to search for products online, according to the latest mobile marketing statistics.
19. Around 45% of the total US eCommerce market is mCommerce.
(Source: Business Insider)
Mobile commerce made up for over a quarter of all eCommerce in 2019. On this basis, Insider Intelligence forecasts that 2020 would hold 45% of the total US eCommerce market or an equivalent of around $284 billion. The eCommerce statistics amid Covid suggest an even higher mCommerce growth in 2021.
20. On average, consumers spend over five hours per day on their mobile phones.
Marketers and advertisers have certainly taken notice—they’ve begun to set aside 51% of their budget for mobile ads. However, there’s a downside. It turns out 70% of smartphone users dislike these ads, according to Mcommerce statistics.
21. Mobile users who’ve had a negative experience with a mobile site are 62% less likely to transact with the brand in the future.
The highly competitive market and customers’ higher standards for convenience mean that prompt service, highly relevant engagement, and positive interactions are pretty much expected across all platforms.
22. US e-commerce statistics show that 55% of consumers have used voice shopping to purchase goods online.
(Source: Search Engine Journal)
Just like mobile devices, voice assistants cater to consumer convenience. However, their adoption rate is slower. But among those already using the technology to shop, everyday items (also known as consumer packaged goods) are their go-to purchases. The experts believe that concerns over security and the fact that shopping is usually a more visual experience are slowing the adoption process.
23. Based on online shopping statistics by year, the mobile payments market will grow to $4.5 trillion by 2023.
(Source: Allied Market Research)
This 33.8% compound annual growth from 2017 to 2023 reflects the convenience of smartphones. It’s also due to the public becoming more aware of mobile wallets and mobile money. While many often use the two terms interchangeably, mobile money works differently from mobile wallets in that the user’s mobile account is directly charged.
Ecommerce Growth Projections for 2021 and Beyond
24. Livestream shopping events in the US are predicted to produce $25 billion in 2023.
China spearheaded live shopping events and made them popular. Some other countries followed suit, and of course, the US is not the one to be left behind.
With Amazon and Facebook now testing live selling, it will not come as a surprise if live stream shopping events meet the prediction of producing $25 billion in sales in 2023, as these eCommerce growth trends continue.
25. Cross-border retail eCommerce purchases in the UK will decline by 7.3% in 2021.
(Source: Insider Intelligence eMarketer)
Last year, 22.8 million people in the UK were expected to have made cross-border online purchases. However, experts foresee a decline of 7.3%, comprising 21.1 million people to purchase from cross-border online retail stores in 2021.
According to the eCommerce statistics for 2021 in the UK, this decline will be felt by 2022.
26. Voice shopping is most likely to surpass $40 billion across the UK and the US in 2022.
Voice shopping integrates into more than just smart home devices and smartphones. Even some kitchen appliances like refrigerators have this upgrade. Smart refrigerators, like the ones by LG, allow consumers to resupply on everyday goods right through the LCD panel of their fridge using the power of Alexa. The voice search statistics show that 43% of voice-enabled device owners use their devices to shop. Furthermore, online shopping statistics by the year 2022 might show the peak of voice shopping at $40 billion.
27. 70% of consumers are expecting a cashless and cardless society by 2030.
A massive percentage of consumers expect we’ll live in a cashless and cardless society by 2030. Right now, the online shopping statistics show that most eCommerce businesses already implement digital wallets, such as PayPal, Apple Pay, Samsung Pay, and Google Play. It’s no wonder that most people expect the whole society to do the same in the future.
28. It’s estimated that global eCommerce sales will surpass $4.9 trillion by 2021.
There’s no denying that the eCommerce industry has taken the world by storm and will continue to do so in many more years to come. The eCommerce statistics for 2021 predict there will be $4.9 in global sales by the end of the year.
It’s the digital age, after all. And with the global Covid 19 pandemic still restricting many people’s actions outside their homes, all items are now available for online sales.
29. E-commerce growth statistics indicate that the revenues from online shopping will reach $479 billion by 2022.
And with 69% of consumers in the United States stating that online shopping has become essential to their lives (see number 3), the forecast isn’t at all surprising. The industries projected to have the most growth are in the toy, hobby, and DIY categories. It’s interesting that despite these estimations regarding eCommerce, online shopping vs. in-store shopping statistics indicate that the online sales will be on par with the sales revenue generated by physical stores.
When it comes to the most popular eCommerce platforms in the US, most online stores use Shopify, while the most useful Shopify apps come from the inventory management category. According to WooCommerce stats, Shopify has a 22% market distribution worldwide, while WooCommerce has a somewhat smaller piece of the pie at 15%.
30. eCommerce trends in 2021 suggest that adopting an omnichannel approach to marketing is a must for e-retailers in 2021 and beyond.
Choosing shopping channels is all about convenience for consumers. That’s why 86% of shoppers hop across different channels. In eCommerce, it’s called “omnichannel marketing,” and 87% of marketers know that it is crucial for business.
This type of marketing allows customers to have the convenience of in-store and online shopping for the same brand. Based on the eCommerce growth projections, the omnichannel approach will become a must for marketers and brands from this year onward.
With big companies like Amazon and Shopify dominating the eCommerce market, it’s easy to assume that the competition is far too fierce for newer and smaller players to thrive. But it’s not always the case. The eCommerce industry is here to stay, which will benefit all shapes and sizes of online stores. It’s a massive worldwide market, with consumers who are increasingly reliant on the convenience of online shopping speaks of vast opportunities, as you can see in the eCommerce statistics above. With even more mobile users in developing countries discovering the joys of eCommerce and cross-border shopping, success is simply a matter of seizing the chance and making your own mark on the digital economy.
- Digital Commerce 360
- Search Engine Journal
- Allied Market Research
- The Wall Street Journal
- Baymard Institute
- Insider Intelligence eMarketer