To shop with online retailers or visit a physical store — this is the choice every consumer faces when making a purchasing decision.
The factors leading into this decision can depend on things like how much time you have and where you’ll get the best value, but the decision ultimately comes down to convenience.
Blame it on Amazon Prime, but consumers now demand faster access to the products and services they desire. I, myself, can attest to this.
For many of us, this trend has shifted our focus to online shopping. There are many perks to this option:
- You don’t have to leave your bed,
- You can opt for next-day delivery,
- You have access to more product information, and
- You may have a more personalized shopping experience.
Unless you’re living under a rock, you know the ecommerce industry and online shopping is growing at a fast rate.
But, have you ever wondered how many people are actually shopping online — or what shopping behavior looks like across different verticals?
Let’s take a look at online sales from a high level.
In the United States alone, ecommerce sales are expected to surpass $740 billion by 2023.
A rise in online purchases is a result of many factors, such as
- The increased use of smartphones and mobile shopping,
- Social media and social commerce,
- Transformative technology,
- Online marketplaces, and
- The way shopping behaviors have changed from generation to generation — Baby Boomers to Millennials to Gen Z.
Not to mention all the perks we previously discussed.
For this reason, staying on top of ecommerce trends can help you build advanced strategies that will help set you up for ecommerce success in both the near and far future.
To shop with online retailers or visit a physical store — this is the choice every consumer faces when making a purchasing decision.
The factors leading into this decision can depend on things like how much time you have and where you’ll get the best value, but the decision ultimately comes down to convenience.
Blame it on Amazon Prime, but consumers now demand faster access to the products and services they desire. I, myself, can attest to this.
For many of us, this trend has shifted our focus to online shopping. There are many perks to this option:
- You don’t have to leave your bed,
- You can opt for next-day delivery,
- You have access to more product information, and
- You may have a more personalized shopping experience.
Unless you’re living under a rock, you know the ecommerce industry and online shopping is growing at a fast rate.
But, have you ever wondered how many people are actually shopping online — or what shopping behavior looks like across different verticals?
Let’s take a look at online sales from a high level.
In the United States alone, ecommerce sales are expected to surpass $740 billion by 2023.
A rise in online purchases is a result of many factors, such as
- The increased use of smartphones and mobile shopping,
- Social media and social commerce,
- Transformative technology,
- Online marketplaces, and
- The way shopping behaviors have changed from generation to generation — Baby Boomers to Millennials to Gen Z.
Not to mention all the perks we previously discussed.
For this reason, staying on top of ecommerce trends can help you build advanced strategies that will help set you up for ecommerce success in both the near and far future.
5 Essential Online Shopping Statistics
Whether you own an online store or are looking to launch a scalable small business, understanding how internet users shop is key to your business model strategy.
You can find thousands of ecommerce statistics on the web, but we’re here to give you the five leading statistics you need to know.
1. High shipping costs are the #1 reason for cart abandonment.
While fast shipping is in great demand, high spend for it isn’t. In a study of U.S. shoppers over the age of 18, it was discovered that high shipping costs are the primary reason for cart abandonment for online sales
