UPDATED FEBRUARY 2020
Ecommerce will be the largest retail channel in the world in just two years, according to projections.
People aren’t just shopping online. Ecommerce statistics say they’re spending more in online stores than physical stores for the first time in history. Statista forecasts that consumers will spend almost a trillion online in 2023 in the U.S. alone.
Here are 5 ecommerce statistics you need to read today
- Estimates say that consumers will make 95% of purchases online by 2040 (Nasdaq)
- 87% of shoppers today use ecommerce reviews to decide whether to buy, and 77% of those shoppers buy online (Business.com)
- Ecommerce is only about 5% of omnichannel spending, but it’s responsible for 40% of its growth. (Nielsen)
- 36% of small businesses don’t have a website (Clutch)
- 72% of ecommerce will take place on a mobile device by 2021 (Statista)
So, why has there been such a major increase in online retail and ecommerce activity?
Simplicity. Shopping online has become more meaningful, convenient, and practical.
Small business owners are rushing to take advantage of this explosion. Simple and powerful ecommerce platforms like Selz have made it easier than ever before and businesses are selling online from their blogs, websites, and online stores.
Consumers have the power to buy eBooks, clothing, and more from all over the world from their tablets, smartphones, and computers. They can also collect feedback from other customers all over the world.
With a few clicks of a button, consumers can have quality goods and services delivered straight to their door or downloaded instantaneously.
With this power to connect, many consumers are looking to buy from small, genuine companies, which is a huge benefit to you. By starting an online store, you allow people all over the world to find your business, not just locals in your neighborhood.
Because most business owners base their decisions on data, we thought you might enjoy a list of the most important online shopping and ecommerce statistics.
Use these numbers to decide what products to sell, where to sell, and how selling online can benefit your growing business.
40 Powerful Online Shopping and Ecommerce Statistics
General Ecommerce Statistics
6. Experts expect global ecommerce sales to double between 2018 and 2023, breaking the $6 trillion mark (Statista)
7. 9.7% of household spending is online for homes with an annual income above $50,000, compared to 3.4 percent for lower-income households (Washington Post)
8. Black Friday shopping at brick and mortar stores dropped by 6% in 2019, and over $9.4 billion in online sales happened on Cyber Monday. Small Business Saturday saw an 18% increase in sales. (CNBC)
9. Average ecommerce conversion rates average 2-5% and 56% of website revenue comes from Google (Wolfgang Digital)
10. 55% of U.S. customers who shop online say that free shipping is the most important checkout option (UPS)
US Ecommerce Statistics
11. Roughly eight-in-ten Americans are now online shoppers: 79% have made an online purchase of any type, up from only 22% back in 2002 (Fit Small Business)
12. Projections say there will be 300 million digital shoppers in the United States in 2023 (Statista)
13. 77% of US small businesses use social media for key business transactions like sales, customer service, and marketing (PR Newswire)
14. 57% of those surveyed say they are positive about shopping online. But, 40% say brick and mortar stores provide a better shopping experience, while only 26% say the same about online stores. (Brookings)
15. Estimates say that U.S. ecommerce sales will be $690.84 billion for 2020, increasing to $891.7 billion by 2022 (EMarketer)
16. 79% of U.S. online shoppers said free shipping would get them to buy online (Walker Sands)
17. Websites with more than three seconds of loading time lose 40% of their initial website visitors (Forbes)
UK and EU Ecommerce Statistics
18. 51% of consumers in the UK say that they prefer to shop online (Ecommerce News UK)
19. Online shoppers in the UK use the internet for 87% of their retail purchases (Ecommerce News EU)
20. 57% of online shoppers say they’ve bought something from a retailer overseas. (Nielsen)
Marketing and Social Media Ecommerce Statistics
21. 74% of people look to their social networks when considering a purchase (Tapinfluence)
22. 18% of local searches lead to a sale within 24 hours. (Researchgate)
23. 85% of customers start a purchase on one device and finish on another device. (Think with Google)
25. 65% of senior executives visit the website after seeing a related YouTube video. (HubSpot)
26. The average shopping conversion rate for Google Ads is 1.91% and 1.74% for Bing Ads. (Wordstream)
27. 75% of customers pay attention to retargeting ads (Invesp)
28. 72% of millennial shoppers are fine with retargeting (Neil Patel)
Voice Search, Text, and Mobile Online Shopping Statistics
30. Small businesses may see up to 30% higher mobile conversion rates than large retailers. (Practical Ecommerce)
31. 10% of online shoppers have used a voice home assistant to make a purchase at some point (NPR/Marist)
32. 2% of Alexa owners have ever used it for shopping online (Forbes)
33. 98% of all SMS text marketing messages are opened (Search Engine Journal)
34. Voice searches are more than 20% of searches in the Google App (Social Media Today)
35. Apps on mobile devices have 3x higher conversion than mobile websites (Search Engine Land)
36. 69% of smartphone users are more likely to purchase from ecommerce sites that give easy answers to their questions or concerns (Blue Corona)
Shopping Cart Abandonment Ecommerce Statistics
37. According to ongoing research by the Baymard Institute, 69.57% of customers abandon their online shopping carts (Baymard)
38. 22% of online shoppers abandon carts because of unexpected costs during the checkout process (Small Biz Trends)
39. The abandonment rate for mobile shopping carts is 85.6% (Barilliance)
40. 24 percent of people who abandon shopping carts want to save their selections to purchase or consider at a later date (Optin Monster)
4 More Small Business Ecommerce Statistics
41. 43% of American shoppers are more likely to buy from companies that personalize their services (Marketing Dive)
42. 89% of B2B buyers search online when they have to make a purchase (Researchgate)
43. 46.5% of small and mid-sized businesses believe that free shipping increases their sales profits (Multichannel Merchant)
44. 19% of small business owners without a website believe that their business would grow 25% in three years or less with the benefit of a website. (Devrix)
Looking for more ecommerce statistics? Check out this article full of Facebook stats.
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This post was originally published in August 2015 and has been updated for accuracy and comprehensiveness.