Nearly one-third of small businesses (29%) plan to start using a website in 2020. It was just over 25 years ago (1994) when the first documented online purchase was made. It’s extremely important to have a clearly defined target market. There’s never been a better time to start an online store. Well, without the costs of maintaining a physical store and large inventory, ecommerce dropshipping businesses are able to keep overheads low. According to a recent study, in March 2020, 42 percent of the US population purchased their groceries online at least once a week (GeekWire, 2020). 41% think that more than 70% of businesses will rely heavily on visuals as part of a marketing strategy. I know that I personally find it annoying when I’ve done my online shopping, added items to my cart, and am all set to check out. Plus, many people already have existing accounts on large ecommerce marketplaces that they know and trust. Here’s our ultimate list of digital marketing statistics in 2020: Email Marketing Statistics. This strategy involves not only having multiple channels but integrating them seamlessly and tracking individual customer interactions across the channels. Under this RMC, online business entities and constituents are encouraged to register their businesses no later than July 31, 2020 to avoid penalties for late registration. And 2021 should mark the official tipping point where more sales will come through mobile than from desktops and laptops. The Key Takeaway: Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. The Key Takeaway: Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. Get access to our free CRO toolkit and skyrocket your organic traffic, on-page conversion rate and more (includes resources not found in the blog post). In 2020, the cloud BI adoption rate is highest in the manufacturing industry at 58%, followed by financial services and business services at 40%. This statistic clearly shows how ecommerce is becoming a more and more important part of global commerce. The Key Takeaway: Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. In it, you’ll learn 19 up-to-date ecommerce statistics and the best strategies to take advantage of them. “Retargeting gives them a little push towards your brand,” says content strategist Pierre de Braux. In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online. For instance, body scrub company Frank Body currently has 745k Instagram followers—something that factors in heavily to their brand exposure and success. This small business statistic might be alarming, but it shouldn’t be surprising. Once again, this trend offers opportunity for new entrepreneurs. The best businesses to start in 2020 aren’t brick-and-mortar storefront businesses; those are best left to meth kingpins who need a front for their real business. That’s why we’ve created this ultimate list of online reviews statistics to help you demonstrate to clients and prospects why they need to put their reputation first – complete with free-to-use images to add to your own sales collateral – updated for April 2020. After going through the entire checkout process, they’re confronted with a bunch of extra costs for shipping and taxes. Thankfully, there are numerous ways businesses can take advantage of social proof. The Key Takeaway: Businesses that can create a seamless, personalized omnichannel experience for customers will own the future of commerce. If this trend maintains its trajectory, e-commerce sales could potentially reach $8 trillion per year by 2025. Between 2017 and 2022, the number of retail bank branches is projected to drop by 36%, online banking growth statistics show. Nearly Half (49.2 percent) of E-Commerce Sales Are Made Through Mobile Devices in 2020 (Statista), 7. Immediately upon landing on their site, shoppers find a simple, straightforward navigational menu. Save my name, email, and website in this browser for the next time I comment. And it’s a good idea for all e-commerce brands to offer this as well. But it’s definitely something you need to take into account, and it’s vital to come up with a realistic strategy that allows you to compete with Amazon. Sell more to your website visitors—without being annoying. Businesses that can create a seamless, personalized omnichannel experience for customers will own the future of commerce. What is Native Advertising and Why Is It So Powerful? That’s a lot of potential customers. This reduces a lot of friction and allows shoppers to painlessly purchase their items without having to go to the trouble of creating an account. (American Banker) 15. Finally, we asked respondents to share their thoughts about what percentage of companies will rely heavily on the use of visual content in 2020 and 2021. One of the more interesting online shopping statistics is that more than six out of every ten shopping journeys begin online. Create great product pages that are detailed, accurate, and answer every question shoppers might have. However, tactics like handing traditional business cards out are outdated and ineffective. Online shoppers making purchases through mobile devices is nothing new. Daily online grocery sales have also as much as doubled. When I talk about e-business, it’s about the whole deal of owning and navigating an online business. In turn, this will help to increase conversions and customer retention. Start a business and design the life you want – all in one place. To learn more, check out: 6 Vital Email Templates Every Online Business Should Steal. With more and more people buying digitally, this means e-commerce brands have the chance to reach a massive audience. The Key Takeaway: Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020. 15 Eye-Opening Online Shopping Statistics for 2020. However, it’s worth noting that different demographics interact with online commerce differently. Social Proof: What It Is and Why It’s Great for Marketing. In other words, ecommerce is slowly taking over. And to effectively build trust, check out: 9 Ways to Boost Sales by Making Your Store More Trustworthy. 27. Your product pages should have plenty of high-quality product images, descriptions, and specifications. Harness the power of social proof to build trust and increase sales. One of the easiest and most effective ways is to decrease the size of the image files on your webpage. The novel coronavirus might play a role in the recent growth of digital banking. Don’t wait for someone else to do it. In fact, half of all shoppers have left during the checkout process because of this. This will instill trust and help shoppers with their research. Another 29% say their website is the marketing channel that needs the most improvement in 2020. This can make a huge difference to your bottom line. Build strong relationships with your customers and make hands-on customer service a priority. Take courses from the world's best instructors and universities. and optimizing your product pages to convince your visitors to decide to purchase from your store – and they want to! For example, you might have a website, Facebook Shop, Instagram account, and an email list. Resize your images to improve your website’s load speed. The sheer volume of video content online is growing exponentially, as these stats demonstrate. The study behind the statistic also found that consumers are also more likely to trust businesses that are open and honest about negative news or events: The Key Takeaway: Build strong relationships with your customers and make hands-on customer service a priority. We'll start by reviewing how many people search, then look at the … A good example of a brand with ultra-easy navigation is footwear company Rollie Nation. After being let down by a business, it’s understandable that consumers would be hesitant to buy from them again. Ecommerce Statistic #18: Longer mobile page load times drastically increase bounces. Thankfully, there are tons of ways you can do this. Here are 100+ digital marketing statistics shared by industry-leading firms, marketers, research groups, and blogs, related to small and medium online businesses. Given that the very basis of online shopping revolves around cutting-edge tech, it should come as no surprise that these shoppers are fans of new technologies and innovations. In other words, a brand is simply a representation of the values and promises the people behind a business promise to uphold. Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide. 63 Percent of Shopping Journeys Start Online (Think with Google), 6. But that number has more than tripled in 2020 to $4.2 trillion and is anticipated to keep growing as we move deeper into the 2020s. Capture shoppers attention by creating killer ad designs. As businesses remain shuttered owing to Covid-19 restrictions, hundreds of producers and store owners have moved their offerings online, many for the first time. They seemingly have a hand in everything—from books to electronics to groceries to music streaming. Tel. EU Statistics on electronicThis article focuses on the electronic commerce statistics in the European Union (EU) and is based on the results of the 2019 survey on 'ICT usage and e-commerce in enterprises'.E-commerce refers here to the trading of goods or services over computer networks such as the internet by methods specifically designed for the purpose of receiving or placing orders. In comparison, according to MailChimp, the average email open rate for ecommerce businesses is just 15.66 percent. To learn how to capture the attention of consumers, read: How to Create a Killer Facebook Ad Design for Your Ecommerce Store. (Dresner, 2020) As of 2020, the number of organizations that consider data management as a business asset is up to 50% … Define a clear target market that you cater to. Make the checkout process short, fast, and easy. The Key Takeaway: Ensure your website is optimized for mobile devices. The Key Takeaway: Harness the power of social proof to increase sales. 75 Percent of People Shop Online at Least Once a Month (Statista) 5. This means they sell to and communicate with customers through multiple channels. Create an email campaign to automatically follow up abandoned carts. How Much Does it Cost to Start a Dropshipping Store? To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to them. Read this blog post to get the statistics you need to inform your 2020 marketing strategy. What’s more, even when you have relevant, accurate statistics, it can be difficult to quickly extract effective strategic insights. Build a segmented email list with relevant leads. Fascinating Small Business Statistics & Facts 50% of small businesses will survive 5+ years and 33% – 10+ years. Businesses without websites should set up an online store asap. Get your products to appear in Google’s Shopping search results. Since then, online shopping has grown from being a novel concept to a multi-trillion dollar industry. 63 Percent of Shopping Journeys Start Online (Think with Google) 6. Ecommerce Statistic #13: Abandoned cart follow-up emails have an average open rate of 45 percent. Ecommerce Statistic #10: On average, only 2.86 percent of ecommerce website visits convert into a purchase. Social media influence! For help, check out How to Start a Business in 2020. Sure, it might be tempting to reduce your prices to entice customers to buy, and then increase your shipping fees to make up for it. This is a psychological phenomenon often referred to as “social proof.”. 1. As of 2020, there are roughly 7.8 billion people in the world. Shoppers should find the process simple and intuitive. Amazon Accounts for 47 Percent of All US E-Commerce Sales in 2020 (Statista), 9. This shows the importance of optimizing for mobile and providing this segment of visitors with a seamless shopping experience. “That’s why it’s crucial for brands to have a strong online presence,” explains e-commerce and dropshipping writer Maryam Moshin. In other words, the strength of ecommerce lies in its convenience. E-learning increases retention rates by 25% to 60%. For example, Hawthorne, a company that sells personal care items for men, uses this retargeted ad on Facebook to grab the attention of previous visitors and direct them back to their site. But their power has really increased over the past few years, where they went from having 34 percent of US e-commerce sales in 2016 to 47 percent in 2020. and many shoppers will use it to quickly compare prices. Ecommerce brands must work hard to capture the attention of these shoppers, inspire them to visit their website, and then build trust. Search and Navigation is The Most Important Site Element for Online Shoppers (Statista), 12. Provide shoppers with detailed and accurate product pages that answer any and every question shoppers may have. It’s also worth noting that the vast majority of people who shop online do so quite frequently. The US financial industry’s total branch count went down by more than 1,500 over a period of 12 months as of February 2020 – another sign of the bright future of mobile banking. And just over a quarter (26.28 percent) of them are online shoppers. Friends and family just want what’s best for you, whereas businesses have an ulterior motive in promoting their products: profit. While there are several reasons for abandonment during checkout, extra costs like shipping, tax, and fees are by far the biggest. The Key Takeaway: Businesses without websites should set up an online store before they’re left in the dust. Complicated checkout processes and forcing customers to create accounts are also huge turnoffs. Avoid springing high fees on customers during the checkout process and consider offering free shipping. Brands that do so can generate a high volume of leads and build brand equity that can pay off when shoppers are deciding who they want to purchase from. So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online? The Most Revealing eCommerce Statistics of 2020: 21.8% of the population worldwide shops online. Having Product Ratings and Reviews is The Second Most Important Element (Statista), 13. Plus, with tools like Shopify, it couldn’t be more simple to set up a website. Thankfully, these days, most website themes come optimized for mobile. Therefore, it’s smart to invest in digital marketing strategies like SEO and social media. Plus, we also provide killer resources to help you implement these strategies today. In fact, experts have projected annual revenue to climb all the way to $6.5 trillion in just three years. It’s an exciting time for e-commerce, and these online shopping statistics offer a snapshot of the current state of things. So it’s definitely something you want to embrace. The US e-learning market could grow by $12.81 billion between 2020 and 2024. Asia has the highest percentage of internet users (49%), followed by Europe (1… Ecommerce Statistic #4: The number one reason people shop online is that they’re able to shop at all hours of the day. To learn more, read: How to Recover Abandoned Carts. Hire yourself and start calling the shots. Look to create a seamless, personalized omnichannel experience for customers. These will show you where the industry is currently at, the opportunities that are out there, where it’s heading and what you can do to be more competitive. And that’s just the tip of the iceberg. This isn’t particularly surprising. And ensure customer service representatives are easily accessible. Learn more by reading: Omnichannel Explained: Why You Need It and 3 Killer Examples. Don’t hit shoppers with unexpected fees during the checkout process or force them to create accounts. The corporate e-learning market could increase by $38.09 billion between 2020 and 2024. Ecommerce Statistic #7: 81 percent of consumers trust the advice of friends and family over businesses. To do this, check out: Shopify’s Free Online Image Resizer. In addition, they are encouraged to voluntarily declare their past transactions, and pay the taxes due thereon, without corresponding penalties if the declaration is done no later than July 31, 2020. In 2019/2020, the average winter temperature in Germany was measured to be 4.1 degrees Celsius. Omnichannel is the next level up – and it’s the future of ecommerce. The point here is that online shopping is becoming the norm, and there are major opportunities to land repeat customers who will buy from you again and again. With so many businesses slow to capitalize on the growing ecommerce trend, this is great news for new and existing ecommerce entrepreneurs. In fact, with an estimated global population of. This invaluable data is what will help you make strategic decisions that’ll help you grow your business even further. After all, who wants to struggle to find what they’re looking for? Pay close attention to your website’s conversion rate and consistently work to increase it. Stunning numbers like that are why focusing your digital marketing efforts on email marketing is a must for running a successful business online. Then all of a sudden, I’m hit with the dreaded “create an account” screen. Looking for 2020 e-commerce statistics? When I wrote that line, I took some liberties fr…, With the holiday season around the corner, we want to help you out a little.Whether you're just getting started with dr…. In 2017, just 34.5 percent of e-commerce sales came through mobile, but that number is at nearly 50 percent in 2020. “When a prospect sees a retargeting ad, there’s a 70 percent chance that they’ll purchase your product over your competitor’s.”. In 2020 and 2021, what percentage of businesses do you think will rely heavily on visual content as part of their marketing strategies? You might even want to consider raising your prices slightly and offer free shipping. To learn more, read: Should You Offer Free Shipping? While it’s not all that big of a deal if I plan on buying from a company, again and again, it’s a major pain if I just want to make a one time purchase. Trotz Stagnation im ersten Quartal erhöhte sich somit der Wachstumsschnitt der drei vorangegangenen Jahre um 3,3 Prozentpunkte. How to Pick the Best Shopify Theme for Your Ecommerce Store, For the sake of customer retention, it’s vital you provide a, Blog Design Inspiration: 20 Designs to Help You Start Your Blog, and Gen Xers spend six hours per week shopping online, Baby Boomers spend four hours per week shopping online, Seniors spend two and a half hours per week shopping online. Thankfully, there are numerous ways businesses can take advantage of social proof. (Internet World Stats) 2. The bottom line is that most won’t result in a sale the first time they land on your site. (Statista, 2020) As of Q1 2020, Snapchat had 229 million daily active users globally, up from 190 million in Q1 2019. In this article, we’re going to take a look at the most important ecommerce statistics for 2020 – from mobile commerce stats, consumer behaviour, social media and shopping cart abandonment to the ecommerce market share. Which of these online shopping statistics did you find most interesting? Advertise your products where shoppers who look up price comparisons will see them. Here are some general internet facts and statistics that you’re sure to appreciate as you make your mark in this competitive landscape and grow your business into a successful one that your customers love. In this day and age, we spend as much of our life online as off; there’s not really any distinction between the two, when we’re literally connected to the internet at all times. Without it, you must resort to guesswork that may cost you dearly. One of the best ways to increase shopper confidence and gain the insights they need is by giving them access to product ratings and reviews. In 2017, approximately 77% of US corporations used online learning, but 98% planned to incorporate it in their program by 2020. or display positive reviews and testimonials to build trust. E-Commerce Sales Are Predicted to Hit $6.5 Trillion by 2023 (Statista), 3. To learn more, read: How to Harness the Awesome Power of Customer Relations. What’s more, this number is rising rapidly and is expected to hit a massive 2.14 billion people in 2021. For example, you can engage in influencer marketing or display positive reviews and testimonials to build trust. Ecommerce Statistic #3: Nearly half of American small businesses do not have a website. Face to face meetings are the most effective way to get new customers. After all, they make it super easy to find ratings for the products they sell, as well as in-depth reviews from customers. A high shopping cart abandonment rate can be one of the biggest roadblocks to creating a successful e-commerce store. (Business Insider) 26. Ecommerce Statistic #12: Unexpected extra cost is the number one reason shoppers abandon carts. With a quick click on a category, they can seamlessly narrow down their search. But this is more than just a temporary boost. Optimize your checkout process to reduce as many of those abandoned carts as possible. There are currently 4,208,571, 287 internet users. By 2021, 53.9 Percent of E-Commerce Sales Will Be Made Through Mobile Devices (Statista), 8. They may simply be doing initial research, virtual “window shopping,” or just not quite in the buying mindset yet. eCommerce is focused on the transaction of goods and services. Still, it’s important to choose a theme that works particularly well on mobile devices. That’s why it’s important to be transparent about these costs, and offer free shipping whenever possible. Although Amazon has come under a considerable amount of scrutiny and criticism as of late, it’s impossible to deny its presence in online shopping. But it’s increased by nearly 15 percent over the last four years. Im Jahr 2017 erwirtschaftete amazon.de einen E-Commerce-Umsatz in Höhe von rund 8,82 Milliarden Euro und führte damit das Ranking der 100 größten Online-Shops in Deutschland an. Ecommerce Statistic #6: 81 percent of consumers conduct online research before making a purchase online. Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will double your sales. They’ve done their research and decided to purchase your product. : +45 71 99 77 07, 24 percent shop online once every two weeks, Chatbots to provide instant solutions for practically any problem shoppers may have, Machine learning to deliver personalized messaging, Product recommendations based on prior shopping history, preferences, location, and so on. And apparently many other people feel the same. This is great news for digital brands and shows just how much opportunity there is. Shoppers often have to filter through a ton of different products to find what they’re looking for, and all of the options can leave them feeling a little bit paralyzed. Amazon Will Account for 50 Percent of All US E-Commerce Sales by 2021 (Statista), 10. (Globe Newswire, 2020) To put it into perspective and get a glimpse of the current state of things, I’ve compiled a list of some of the most eye-opening online shopping statistics for 2020. This guide will teach you how to make an app from sta…, Social media isn’t cool. So it’s crucial that you know how to keep this in check and the specific reasons why shoppers fail to complete their purchases. The Key Takeaway: Make sure that your customer experience is built for convenience. (Source.). To learn how check out: Customer Retention: 10 Tips to Keep Your Customers Coming Back. I Have Lots of “Add to Carts” But No Conversions. In fact, that’s the most important attribute of the online shopping experience for 53 percent of people. When applied, the strategic takeaways from these 19 ecommerce statistics have the power to supercharge your online business. How to Harness the Awesome Power of Customer Relations, Roughly speaking, this means that only 1 in 34 website visitors, Think about it, if you have a store converting at 2 percent, simply increasing conversions to just 4 percent will. This summary of search engine marketing statistics is aimed at helping you make better-informed decisions about the running of your search marketing and making the business case by modelling the returns from search engine marketing if you're using a search gap analysis to put a quantitative estimate to the returns. And there’s also an intuitively placed search feature for added convenience. , the average email open rate for ecommerce businesses is just. Optimize your website to instill trust in visitors quickly. Modern wardrobe brand Cents of Style, for example, always offers free shipping and lets shoppers know about it as soon as they land on their site. The Key Takeaway: For the sake of customer retention, it’s vital you provide a fantastic mobile shopping experience. If you want to learn how to create an app, we’ve got you covered. Check out what shoppers can find for their product the, “Bright Idea Moisturizer.”. Ecommerce Statistic #14: On average, 52 percent of online stores have omnichannel capabilities. Read how your favorite online stores use Sleeknote to grow their businesses. The Key Takeaway: Ensure you provide your customers with a stellar customer experience from start to finish. Optimize your checkout process to reduce abandoned carts. Get proven strategies on email marketing, CRO, and e-commerce. Boost customer retention by providing a stellar customer experience. Business Networking Statistics in 2020. Any questions? To learn how read: How to Set Up a Facebook Shop: The Quickstart Guide for Beginners. Ecommerce Statistic #9: Consumers are most likely to trust a business that makes it easy to contact people at the company. The Key Takeaway: With more and more people shopping online each year, there’s never been a better time to start an online store. And there’s also a rating so shoppers can make a well-informed choice and use the wisdom of the crowd to determine the quality level. Ecommerce is expanding in every direction and becoming a more integral part of the consumer experience worldwide. The Beginner’s Guide to Boosting Sales With Google Shopping Ads. The Key Takeaway: Ensure your website loads fast – super fast. (Source.). Make sure you have an email campaign to automatically follow up abandoned carts. But this could lead to shoppers abandoning their carts. E-Commerce Sales Are Expected to Reach $4.2 Trillion by the End of 2020 (Statista) 2. 1. Need help using Sleeknote? By comparison, a far fewer number (15 percent) shop 3-4 times per quarter, and only 10 percent shop once every three months. That’s what furniture and home decor brand Crate and Barrel does, and it works out great. Here’s a quick summary of those strategic insights: Which key takeaway has been most useful to you? The internet is a big place. When he’s not busy with writing awesome content and building the Sleeknote brand, he spends his time reading blog posts and listening to podcasts. Omnichannel Explained: Why You Need It and 3 Killer Examples. E-Commerce Sales Are Predicted to Hit $6.5 Trillion by 2023 (Statista) 3. To gain inspiration, check out: Blog Design Inspiration: 20 Designs to Help You Start Your Blog. (Business Insider) Online Banking vs. However, retaining customers over time can lead to huge business growth driven by repeat purchases. (Source.). For this reason, the strategy requires organization and the integration of new technologies. Your email address will not be published. These extra fees are one of … There’s been significant growth in e-commerce in recent years. Get to know the talented team that makes Sleeknote possible. Roughly speaking, this means that only 1 in 34 website visitors actually buys something.

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