ECommerce has opened the doors of opportunity to many entrepreneurs in the world.
An entrepreneur can easily start a business with limited capital nowadays just because of the growth in eCommerce.
The only way to boost online revenue is to stay ahead of the curve in knowing what customers want. The more you know about your customers, the more you can market your products.
Ecommerce has a rapid transformation in the retail sector. The eCommerce market share may vary anywhere from 7% to 26%.
In 2019, global eCommerce sales accounted for $3.5 trillion and expected to grow over the next few years. Estimated retail sales will increase to $6.5 trillion by 2023.
China top’s eCommerce market on total online sales with a $2 trillion mark in 2019. The United States and China are the largest economies worth $2.5 trillion which make up more than 70% of the sales generated worldwide.
Well, now we digging into eCommerce Statistics.
General eCommerce Statistics
- In 2017, eCommerce sales were about $2.3 trillion, it is expected to get doubled by 2021 which is around $4.5 trillion. Also, it is estimated that 95% of purchases will be online by 2040. (kinsta)
- ECommerce sales have gone up to 14.1% of worldwide retail sales in 2019. The number is expected to rise up to 22% by 2023. Estimated retail sales may generate around $6.452 trillion. (hostinger)
- Consumer-Packaged goods have been growing these days and eCommerce sales for them have increased to 12-15%. Sales were up by 3% of all eCommerce purchases due to the pandemic. In the next few years, eCommerce sales may get stabilized to around 8%. (bcg)
- Clothing is the most popular category in eCommerce products. According to the Nielsen report, fashion accounts for 61% of total eCommerce sales. Trends like Loungewear and athleisure are keeping the numbers balanced. (nielsen)
- China has the largest sales market in eCommerce. $672 billion a year is made from online shopping which makes 15.9% of the total retail sales in the country. The US takes the second and the UK takes the third position. (business)
Facts about eCommerce Statistics
- By 2021, the global retail eCommerce sales will reach $4.9 trillion. Worldwide eCommerce sales will go high in the coming years. New studies project a growth rate of 265% in the eCommerce business. (beeketing)
- In 2019, Consumers have spent $601.75 billion business with US merchants, which is up to 14.9% in 2018. The trajectory growth is expected to continue even without the pandemic. In 2020, online retail numbers have bypassed all projections. (trekk)
- Asia also leads global eCommerce sales even with the cooling off of China’s economy. ECommerce sales show that Asia is the leader followed by the US and Western Europe. Asia is expected to see a growth of 25% of the global eCommerce spending. (emarketer)
- According to Professor Gerald Zaltman, 95% of the purchasing decisions are subconscious. Targeting the subconscious mind is the most effective way to market your product. (inc)
- 95% of the shopping will be occupied by eCommerce by the year 2040. Global eCommerce sales have seen nearly an increase of 250% since 2014. (trailblaze)
- The average total spending on eCommerce per consumer in a year is estimated to be $1,800 in the USA and $1,600 in the UK. (medium)
Ecommerce Market Share
The top 10 list of largest eCommerce markets :
- China – $672 billion
- USA – $340 billion
- United Kingdom – $99 billion
- Japan – $79 billion
- Germany – $73 billion
According to the report of Nielsen Global Connected Commerce, South Korea takes the first piece of cake in fashion with 77%, beauty products with 66%, nonfood household groceries with 52%, packaged food with 51%, and fresh groceries with 37%. (nielsen)
ECommerce market share of the US started decreasing steadily from a global share of 20.2% in 2015 to 16.9% by 2020.
In 2017, the US accounts for 44% of eCommerce sales with Amazon itself. The growth rate in the US is 23% every year. (cnbc)
B2B Ecommerce Statistics
- B2B has been growing very faster than B2C. It has increased by 18% in 2019 and 3% higher than B2C companies. Amazon and Alibaba also come under these marketplaces. (digitalcommerce)
- The global market of B2B companies is moving upwards currently and is likely to increase in the future. In 2021, the expected eCommerce sales will reach $1.1 trillion in the world. (statista)
- In 2019, the Gross Merchandise Volume(GMV) of B2B company eCommerce sales reached $12.2 trillion when compared to $5.83 trillion in 2013. (statista)
- In 2015, Alibaba accounted for 9.3% of global B2B eCommerce. But, B2B eCommerce sales were expected at around $780 billion that year. (bizjournals)
- By the end of 2020, Frost and Sullivan predict that the Global B2B eCommerce sales are expected to reach over $6.6 trillion. And B2C companies are valued at $3.2 trillion. (medium)
- By 2023, B2B eCommerce sales of the US will be around $1.8 trillion which accounts for 17% of the total B2B sales. (forrester)
- B2B landscaping is very old then we think it is. 78% of the B2B retailer companies say that they have been selling online for 2-5 years. (bigcommerce)
Mobile eCommerce Statistics
According to Statista, 73% of the eCommerce sales will happen on a mobile device by the end of 2021.
So, failing to take mobile devices into consideration while developing a business strategy can be detrimental to the business.
ReadyCloud states that 44% of internet retail minutes were spent on smart mobile, 11% on a tablet, and 45% on a desktop. (disruptiveadvertising)
Mobile will become more important for new entrepreneurs, as small retail businesses have 30% more conversion rates compared to large retailers. (practicalecommerce)
Drivers Behind Ecommerce Sales Worldwide
The infiltration of technology into consumers’ lives has also made the case for eCommerce. Figures from PwC’s 2019 Global Consumers Insights Survey show an eCommerce sales trend toward technology and online purchases administered through mobile devices, particularly smartphones. (pwc)
In 2019, half of the customers purchase products with their computers or phones in-store, with smartphones rather than PCs because of the preferred choice.
Mobile phones were the foremost popular device, with 24% of worldwide consumers reportedly using their mobile phones for online shopping, overtaking PC users (23%) for the primary time.
This divide between online and in-store is predicted to widen within the coming years as consumers feel increasingly comfortable with the convenience and mobility that smartphones and tablets offer.