We like numbers. They’re interesting and when it comes to decision making as a small business, understanding the market numbers will help you understand the target audience. So to keep up with our statistics page for different industries we thought we’d put one together for e-commerce to help guide and provide context for businesses big or small.
Online shopping and e-commerce has grown into a multi-billion dollar stream of revenue. Online storefronts mean cheaper overhead and less barrier to entry for startup companies and small businesses. It also means more potential to reach a target audience in a global context, rather than restricted to community, region or state.
- Estimate of U.S. retail e-commerce sales for the third quarter of 2015 was $87.5 billion, accounting for 7.4% of total sales. (U.S. Department of Commerce 3Q 2015)
- As of 2013, 41% of global internet users have purchased products online.
- Online shopping retail sales are predicted to grow steadily to $370 billion in 2017, up from $231 billion in 2012.
- 72% of Millennials research and shop their options online before going to a store.
- 50% of Millennials say they regularly browse for items that they don’t plan to buy.
- In the first quarter of 2014, online retail revenue saw an 11 percent year-over-year growth rate. Online orders were up 13 perfect.
- Revenue via mobile device in 2014 was up 35% over 2013
- B2B e-commerce will hit $12 trillion in sales worldwide by 2020, up from $5.5 trillion in 2012. (Frost & Sullivan Research and advisory firm.)
- 69% say they expect to stop printing a catalog within five years. Online catalogs are replacing print catalogs. (Forrester Research Inc. and Internet Retailer)
- Top technology priorities for B2B companies are their e-commerce platforms, cited by 64% of respondents. That was followed by integration with accounting and order management systems, 60%, and mobile sites and apps, 56%. (Forrester Research Inc. and Internet Retailer)
- Global shoppers are expected to spend $119 billion on goods and services via mobile devices in 2015. (According to Fierce Wireless)
- Projections show that a quarter of all U.S. retail sales will be influenced by mobile for a total of $1 trillion+ (Key Trends in e-commerce by eMarketer)
- 9% of those who shop on tablets actually buy while only 52.4% of those who shop on smartphones make a purchase. (Key Trends in e-commerce by eMarketer)
- Mobile is 29% of e-commerce transactions in the US and 34% globally. By the end of 2015, mobile share is forecast to reach 33% in the US, and 40% globally. (Criteo’s Q1 2015 State of Mobile Commerce Report)
- For top 10 retailers, nearly half of digital shoppers are mobile-only. (Internet and mobile measurement firm comScore)
- Fashion and Luxury retailers have the highest share of mobile transactions with Mass Merchants as a close second. (Criteo’s Q1 2015 State of Mobile Commerce Report)
- One of the major revelations was that in 2014, ⅓ of e-commerce orders were coming from a mobile device rather than a computer (Shopify annual Year in Review for 2014)
- In 2014 e-commerce orders coming from social media grew a staggering 202%. (Shopify annual Year in Review for 2014)
For more advice and information regarding small business marketing and e-commerce, check out the Paveya blog!