Amazing Facts About Worldwide E-Commerce / Online Shopping
Michael Aldrich invented online shopping in the UK. In 1979 he connected a modified domestic television via a telephone line to a real- time multi-user transaction processing computer. In 1990, Tim Berners-Lee created World Wide Web and the first browser. Later tmore online developments started to take place when in 1994, Netscape launched its first commercial browser by the name “Navigator”. Similarly Pizza hut also expanded its ordering system online. In 1995, Amazon and eBay launched their online portals – a step forward in e-commerce.
Online shopping or ecommerce is a multi billion dollar industry and is expected to grow by 20% this year globally.
By spending several billion dollars every year, e-commerce has continued its double digit growth. The current trends of ecommerce will determine its expansions in the future.
Ecommerce is constantly changing and evolving with new technology and changes in consumer behaviour. It’s increasingly becoming more sophisticated and mobile.
In the present world, it has been estimated that more than 80% of the internet users has used online portals to purchase something. Also online shopping has been carried out more than once by about 50% of the online shoppers.
The new breed of simple to use ecommerce platforms like Selz has made it easier than ever before for entrepreneurs, artists and creators, or small business owners to take advantage of this explosion in selling online from a blog, website or online store.
In 2013, retail e-commerce sales amounted to 3.59 billion US dollars and are projected to grow to 14.18 billion US dollars in 2017.
E-commerce sales by 2015:
E-Commerce industry is expected to have a value of over $1500 Billion by 2015.The current e-commerce sales has been growing with a 19% increase per year and with this stats it is indicated that by 2015 it double than what is now.
E-commerce to M-commerce:
The trends are changing and the online shopping methods are becoming more and more adabtable to the ease of the mankind. Presently the mobile e-commerce is about 4.4 billion and it is indicated that by 2015 the mobile ecommerce will grow to 23.8 billion.
Online Shopping and Ecommerce Statistics
a) 71% of shoppers believe they will get a better deal online than in stores
b) 80% of the online population has purchased something using the internet, 50% of the online population have purchased more than once
c) Online sales in in the first quarter of 2014 were up 13% compared to same quarter 2013 (source: Custora’s E-Commerce Pulse )
d) Mobile ecommerce was up 35% compared to last year for the first quarter of 2014, and increased its share of onlines sales. First quarter in 2014 mobile
e) E-commerce was 18.5% of total ecommerce sales compared to 13.7% for same time last year (source: Custora’s E-Commerce Pulse )
f) Cyber Monday 2013 was the biggest online sales day of all time with US$1.7 billion spent (source: Statista)
g) Gen X spends $561 on average online, 15% more online than Gen Y who spend $489
h) 36% of consumers spend 30+ minutes comparison shopping before making a decision on purchasing a commodity product; 65% spend 16+ minutes doing so
US Ecommerce Statistics
A) 191.1 million US online buyers (source: Statista )
B) 98.9 million online buyers who have purchased at least once via a mobile device (source: Statista )
C) US Ecommerce sales estimated to be $304.1 billion for 2014, increasing to $491.5 billion by 2018 (source: Statista)
D) US mobile ecommerce now $7.3 billion in first quarter of 2014, up 23% on previous year (source: factbrowser)
E) Only 28% of US small businesses are selling their products online (source: SBA)
UK and Europe Ecommerce Statistics
a) 27% of UK online sales via a tablet in 2014 (source: Factbrowser)
b) Ecommerce sales in Europe expected to grow to US$216 billion in 2014, an increase of 18% (source: RetailMeNot)
e) 33% of UK online sales occur after 6pm (source: IMRG)
f) Online sales already account for 13% of the total UK economy, and its expected to increase to 15% by 2017 (source: emarketer)
A) 47% of all online orders include free shipping (source: monetate)
B) Shoppers spend 30% more per order when free shipping is included (source: Wharton)
C) US average conversion rate is 3.06% in Q4 2013 (source: Monetate)
D) Device plays a big part in conversion. Desktop is 3.11%, Tablet is 2.59% and Smartphone is 1.01% in Q4 2013 (source: Monetate)
E) 44% of online shoppers begin by using a search engine
a) Mobile ecommerce is worth $3.2 trillion in 2017 up from $1.5 trillion in 2013 – a whopping 213% increase
b) Global ecommerce sales made via mobile device is expected to grow to US$638 billion by 2018 according to Goldman Sachs (source: Digiday)
c) Apple still dominates mobile ecommerce. iPhone’s share of ecommerce orders was 50.6% and Samsung was 30.5% in Q1 2014 (source: custora)
d) Mobile ecommerce will account for 30% of global ecommerce sales by 2018, up from 15% in 2013 (source: factbrowser)
e) 65% of US consumers owned a smartphone and 29% a tablet in 2013 (source: Nielsen)
f) 51% failed to complete a purchase on a mobile device because they did not feel comfortable entering their credit card details (source: Jumio)
g) 52% of tablet users prefer to shop using tablet than PC
h) Tablets (70%) are more popular for online shopping than smartphones (47%)
i) 95% of tablet shoppers and 72% of smartphone shoppers who make a purchase using a mobile device do it at home (source: Nielsen)
j) 43% of consumers will visit a competitor’s site next after a negative mobile shopping experience (source: radware)
k) 41% of buyers don’t complete a purchase on mobile device because too difficult to enter credit card information, and 47% gave up because checkout process took too long (source: Harris Interactive 2014)
Shopping Cart Abandonment
A) Shopping cart abandonment rate was 88% in 2013, up from 81% in 2012 (source: UPS Pulse of the online shopper)
B) The abandonment rate for mobile shopping carts is 97% compared to 70-75% for desktop carts (source: radware)
C) Top reasons for buyers abandoning shopping carts (source: UPS Pulse of the online shopper)
D) 61% of consumers are at “somewhat likely” to cancel their purchase if free shipping is not offered (source: Wharton)
Social Media in E-Commerce
a) 46% of users read reviews and blogs before purchasing online
b) Blogs influence purchase, 13% said they a blog post had inspired a purchase
c) 84% of online shoppers refer to at least one social media site for recommendations before shopping online
E-commerce in India is at its boom right now, if you’ve an online business, now is the time to get your business in India. Indians are good at shopping and online shopping is no different.
Here are few facts related to online shopping behavior of Indians. According to the study, more than 8 out of 10 Indians will shift towards online shopping in the next one year. More over, a quarter of the online shopping crowd spend above 11% of their monthly expenditure on online purchases. The study also suggests that Indians take advice from their friends & family more seriously when they shop online compared to other means.
Some more interesting facts about E-commerce Globally
1)Pizza Hut was one of the first major brands to experiment with online commerce, starting in 1994.
2) Although Amazon launched its e-commerce in 1995, but was not able to generate profit until 2003.
3) 26% of the shopping carts are abandoned due to forced user registration and are never purchased.
4) 45% of the online shoppers want an online customer service or IM feature.
5) 79% of the shoppers desire a tracking option while ordering anything online.
6) Approximately 46% of online users count on social media when making a purchase decision.
7) 71% shoppers believe that they will get better deal online than in stores.
8) 44% of smartphone users admitted to “show-rooming” – They browsed products in brick-and-mortar stores, picked what they liked, then purchased online.
9) During the third quarter of 2012, $4,423 was transacted via Paypal, per second.
10) Asia holds the largest number of web purchases, South Korea is at the top of the list.
11) India is home to the fastest growing e-commerce market in the world and France is the slowest.
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