E-commerce offers incredible business opportunities to capitalize on the wave of growing demand from consumers interested in shopping online. In support of this, we’ve gathered amazing facts for you about online commerce around the world.
The most popular categories of products that are most in-demand in the global online trade are clothing and footwear, home electronics and books.
The top promotion channels in e-commerce are as follows: search engine marketing (SEO) is in the first place, the second place is occupied by contextual and media advertising, and the third place is occupied by such channels as price aggregators.
By the end of 2019, total sales of online stores around the world are projected to reach 2 trillion U.S. dollars (!). Growth will be +6% compared to 2017. Just think about this figure – it’s impressive.
Almost half of all e-commerce sales in 2017 will be in China (47%). In monetary terms, this is about $900 billion. Thus, this country will take first place in the world in terms of sales in Internet commerce, moving the U.S. from this place.
The second-largest regional market in e-commerce in North America. This year, sales in the U.S. and other countries in the region are projected to be $423 billion, up 15.6%.
By 2020, global online sales should double.
The Asia Pacific region is projected to remain the largest regional market in e-commerce, reaching an estimated turnover of 2.5 to 2.7 trillion dollars by 2020.
One of the market trends is the expansion of payment options. Many of the leading online store owners use traditional payment instruments, but the demand for innovative payment methods is growing. This demand is being met with further expansion of online retail, particularly through Apple Pay and other contactless payment systems.
One of the main challenges that analysts believe can limit future market growth is the issue of security and privacy.
Among the large niches, the largest average check is in the niche of computers, TVs and multimedia devices, where it is $212. The smallest average purchase amount is in the niche of flowers and gifts.
64% of mobile device users prefer to make purchases through applications. Approximately 52% believe that browsers are more convenient in this respect.
The leader in the field of mobile payments is Apple Pay. A laudable achievement, given that the service was introduced only recently – on September 9, 2017.
According to Eurostat, in the European Union, the online segment accounts for more than 15% of all retail sales in the B2C segment.
The center of e-commerce in Europe is the UK. Online sales in the B2C sector are three times larger than in Germany, the second-largest market on the continent. The dominant market is Amazon, which accounts for 54% of all sales.
The average age of an online customer in the world is 25 years. Shopping is the fastest growing online activity of today’s Internet users.
Only three countries in Europe account for 81.5% of all online sales: the UK, Germany, and France. And from year to year on this indicator, they show stable growth.
According to Twenga Solutions, 29% of European retailers use 2 or 3 channels to sell their products, while half of the sellers attract buyers through three or more channels. Multi channels are becoming a necessary measure for effective business development.
Logistics and customer service for regional customers remain a weakness, even in the U.S. online store, and for developing countries, it is a real Achilles heel. But major players understand this, and, for example, the Internet holding Alibaba plans to invest hundreds of millions of dollars in logistics and service delivery in the segment of regional customers.
The largest emerging e-commerce market in India. And given that Internet penetration in the country at the moment is just over 10%, the volume of online commerce in the country will continue to grow for a very long time.
Most buyers expect to receive their order within 2-3 days, and only one in four is ready to wait for up to 6 working days. Also, all respondents who participated in surveys related to e-commerce around the world consider the ease of return of purchase one of the most important criteria for the quality of any online store.
Approximately 73% of U.S. citizens from rural areas who travel more than 15 km to make daily purchases now prefer to place orders online. Nevertheless, the need for offline shopping remains relevant, but in cases where the purchase must be made at the last minute.
In conclusion, I would like to say that it is easy to check the statistic of your own eCommerce with the help of Magento advanced reports.