Are you looking for Online Business Statistics to grow your business?
In this article, we’ve given a detailed list of online business stats so that you don’t have to look all over for the information you need.
In this guide, I’ll go over everything you need to know about Google My Business.
I’ve got you covered with the following content:
- Internet Business Statistics and facts
- Online business Facts and Stats
- Online Business Industry Statistics
- Online Business Growth Statistics
- Online Business Vs Offline Business Statistics
- Online Business Failure Statistics
- Lead generation
- Content Marketing & Blogging
- Video marketing
- Email marketing
- Social media
Let’s dive into some stats of Online Business.
Internet Business Statistics and facts
- There are 4,208,571,287 internet users globally.
Asia has the highest internet users in the world with 49%, followed by Europe and North America with 16.8% and 8.2% respectively.
- Google processes 40,000 searches every second.
The average Google searches per day are 3.5 billion, and 1.2 trillion searches worldwide per year.
- Google Chrome is the most widely used browser in the world with 49.3%.
Apple Safari is the next most used browser in the world with 31.6%, followed by IE with 5.7%.
- 3.8 billion in the world are social media users in 2020.
Around 4.5 billion people use the internet in the world. Nearly 60% of people worldwide are online today.
- WordPress is the most popular blogging and website builder with a whopping 15.5 billion pageviews in 2019.
32% of the world uses WordPress to build their platforms. 409 million people are viewing WordPress built websites in the world. 41.7 monthly posts are published by bloggers.
Online business Facts and Stats
- 6 out of 10 small businesses don’t have a website for their business.
Almost 45% of the business people have no website as they feel that their business is too small for a website.
Only 19% of the small businesses believe that their business will grow to around 25% if they have a website.
- 55% of people make a purchase after searching online reviews and recommendations.
47% of the people visit the company website, 26% check out in physical stores, and 23% from friends and family.
- 92% of the feedback given online is considered as positive.
Online reviews and testimonials play an important role in purchasing a product. Most of the reviews that customers across all the age groups shared are considered as positive, followed by 6% neutral, and 2% negative.
- 47% of the people share reviews on the seller’s website, followed by Facebook with 31%, brand websites with 18%, WhatsApp with 17%, and Instagram with 12%.
Lowest price, payment options, information about the product, flexible return policy, low shipping costs are the things that influence the purchase decision. 59% of the Millenials will choose to shop on Amazon.
- 69.57% is the average cart abandonment rate across all the industries.
54% of the customers abandon the cart item and find out the price drop and buy it after all.
- Consumers around 73% would prefer to do business with brands that provide a personalized experience in shopping.
80% of the consumers claim to quit the business if it has a poor customer service experience.
- Free shipping increases the sales of the business by 10%.
46.5% of the small and mid-sized business believe that free shipping can increase sales profits. Conversions also improve by 50% when free shipping is offered.
Online Business Industry Statistics
- Online shopping has become a trend, and 1.79 billion people shopped in 2019.
According to Statista, online shopping could rise up to 2.14 billion by the end of 2021.
- 60% of the millennials make purchases online now.
According to the survey in 2019, Millennials prefer purchasing online. In contrast, 64% of American shoppers would prefer to buy goods in-store. 36% of people purchase online using mobile devices.
- 92% of US retail sales still happen offline but eCommerce sales have a steady rise over the years.
According to a survey of eCommerce statistics, Ripen found that there is a business growth in internet business. Offline sales are high, also eCommerce sales have increased.
- By 2021, the Global Ecommerce sales would reach around $4.8 trillion.
According to Shopify, the annual growth rate of eCommerce is around 276% over the next three years. In 2018, the revenue of eCommerce is $517.26 billion which is an impressive figure.
- Amazon sales accounted for 40% of US online sales.
Ecommerce gains of the US accounted for 55%. Amazon sales have jumped 16.3% year over year. Amazon accounted for 5.2% of $3.632 trillions spent by US customers on retail goods.
Online Business Growth Statistics
- According to eMarketer’s latest forecasts, there was an increase of 20.1% in the worldwide business-to-consumer(B2C) eCommerce sales which reached $1.5 trillion.
- Forrester estimated that the total sales of the US online is $294 billion by the end of the year, and expected to grow to $414 billion by the end of 2018.
- And the total sales of US consumers spending online in 2019 is $586.92 billion.
Online Business Failure Statistics
Business Failure Rates and Startup Statistics
Every year 6.5 million businesses are launched, but only a few businesses enjoy long-term success.
Startup failures accounted for 90% as they have in the past.
Failure rates look like they have broken down by year.
- First-year: 21.5%
- Second-year: 30%
- Fifth-year: 50%
- 10th year: 70%
The first few years of the startup may be uncertain, with changing market conditions and preferences of the consumers.
But things are expected to level out and risk of failure to disappear once the business is established.
Business Failure Rates by Industry
Not all startups are created equal.
The risk level also depends on the type of industry chosen to launch your startup.
Although business failure rates are similar by industry, some of the niches are reliable.
- The businesses which were most likely to fail in 2019 were:
- Grocery stores
- Local trucking
- Plumbing, heating and air conditioning
- Security brokers and dealers
Among other industries, the failure rates are given below:
- Information companies: 63%
- Construction: 53%
- Manufacturing: 51%
- Services: 45%
- Education, health, and agriculture: 44%
- Finance and real estate: 42%
The median lifespan of most restaurants is 4.5 years, only 17% of the restaurants may close during the first year, and 50% make it to year five.
- Most of the purchase decisions taken by the qualified leads rely on word of mouth with 55 percent.
Consumer behavior and purchase decisions are constantly changing. Leads rely on customer preferences(46%), and media articles(38%).
- In 2019, sales of eCommerce topped with $3.453 billion.
There was an increase in global eCommerce sales. In 2018, the sales were around $2.842 billion.
- By the end of 2020, it is expected that there will be around 2 billion online shoppers around the world.
By 2023, eCommerce retail purchases are expected to rise from 14.1% to 22%. The United Kingdom, the United States, and South Korea will top when it comes to online shopping.
- Generally, 18% of local mobile searches lead to sales within one day.
Physical stores are visited by 50% of the people within a day, after doing a local search on their mobile. And 34% of people use computers or tablets.
- 98% of the site visitors will not leave any contact information, making it difficult to nurture leads.
The main problem with limiting the personalized approach is that it becomes difficult to reach potential buyers without any contacts.
- 17% of the people still use spreadsheets to store the lead information.
CRM is used to store lead data by 45% of the companies and the lead scoring strategy is used by 84% of those companies. Web forms are the most popular way to capture leads, followed by traditional data entry.
- 25% of the small businesses have no idea of the conversion rates of lead generation.
Multi-step forms in WordPress can lead to 300% more conversions. The multi-step form converted 53% of the site visitors to leads.
Content Marketing & Blogging
- Content marketing gets 3 times the leads per dollar spent when compared to paid search efforts.
Content marketing costs 62% less than outbound marketing. It also generates more leads.
Small businesses that have blogs get lead growth of 126%.
- Most of the people are exposed to around 4,000 to 10,000 ads per day.
Digital marketing experts say that Americans are exposed to thousands of ads each day.
- 61% of the consumers make purchases only after reading the reviews on a blog.
This could be taken as a key trend in consumer buying behavior. Blogs are a fundamental part of the purchase decisions taken by a consumer.
- Email newsletters are used by 83% of the Business-to-Business(B2B) as a part of their content marketing.
83% of marketers use content marketing as a key role in generating leads for businesses.
- WordPress includes 33.6% of the top 10 million websites.
WordPress is used by 60 million websites. Leading publishers of WordPress are TechCrunch, TED, CNN, and the National Football League.
Top languages used in WordPress are English with 71%, Spanish with 4.7%, and Indonesian with2.4%. 70 million new posts and 77 million new comments are published in WordPress every day.
- Businesses that blog receives 97% more links to their website.
Websites with blogs are also shown 434% more indexed pages. 77% of internet users read blogs. They have the potential to generate businesses 2 times more than email traffic.
- Video content can increase the click-through rate and drive organic traffic by 157%.
According to Smallbiztrends, internet video traffic of the global consumer is around 80% of all the consumer internet traffic.
Pages with videos are more likely to rank 53 times more on Google’s first page.
- 43% of people are likely to watch video content from marketers.
People around 45% watch Facebook or Youtube videos for more than an hour in a week. On Youtube, daily 1 billion hours of video are watched. Twitter videos are watched by 82% of the people. Facebook video content without audio is watched by 85% of the people
- 66% of people view online videos for searching for products or services online.
53% of the viewers contact the business after watching the videos. 51% of the people visit the company website, and 33% visit the shop physically.
- More than 50% of marketers believe that videos are effective for increasing brand value.
People watching videos are 4 times more than reading about a product or service. 89% of video marketers are having a good ROI.
- A video launching page has the potential to increase conversion rates by 80%.
Customers tend to stay on webpages 2.6 times longer than expected if it has videos.
- Email marketing continues to be the highest ROI of all the other strategies of marketing.
The average email marketing ROI is 42: 1. High conversion rates matter the most in Businesses.
- 26% of the increase in open rates is generated with email personalization.
An email with a personalized subject line is more likely to be opened. The transaction rates are 6 times higher with personalized emails.
- Revenue of the automated emails can be as much as 320%.
Automated emails have 70.5 higher open rates and 152% higher click-through rates. Email marketing revenue of automated email campaigns accounts for 21%.
- 42% of the emails are now opened on mobile devices.
More emails are read on the mobile device than on a desktop. Emails opened on mobile devices have a chance of reopening the same email again by the reader.
- Marketers found that segmented email campaigns can increase email revenue by 760%.
Segmented email campaigns have a higher open rate of 14.32% when compared to non-segmented campaigns. Also, segmented emails have a higher click rate of 54.79%.
- Email is a more effective way to acquire new customers, nearly 40 times more than social media.
Email is more efficient in attracting new customers than Facebook and Twitter. Because 91% of US consumers use email every day. And also, Consumers around 61% would prefer to be contacted by brands via email.
- Transactional emails in the email campaigns make 6 times the money for businesses.
Transactional emails have 8X more opens and clicks than any other type of email.
- Visual content is 40X more likely to be shared on social media.
In the top three social media networks (Facebook, YouTube, and Instagram), infographics are shared and liked 3X more than any content.
- Around 50 million businesses use Facebook pages to get connected with customers.
140 million businesses are using Facebook and its related applications to reach their customers. 4 million businesses pay for social media advertising.
- Link clicks are involved in 92% of all the user interactions on Twitter.
According to Salesforce reports, tweets with more links get retweets – 86% more.
- Before buying a gift for friends or family, 25% of US shoppers consult social media.
40% of the people aged between 18 – 34 years are more likely to reach social media for gift ideas.
- New customers are attracted by 78% of small businesses through social media.
According to Relevanza, Businesses also engage their existing customers through social media. Sending the right messages through social media to potential users is the key point.
- Online orders around 85% do come from Facebook.
Most of the online orders are from social media sites like Facebook. The average order value referred from Facebook is $55. Facebook communities fro businesses are growing by 8% a month.
- Online stores which have a social presence have an average of 32% more sales.
Stores have at least one social media account for online sales. Stores with no social media presence have fewer sales.(transactionagency)