Today, we’re going to explore some of the most valuable Ecommerce statistics for 2023.
Let’s get started.
Key Ecommerce Statistics 2023 – MY Choice
- Up to 95% of sales are expected to be conducted via ecommerce by 2040.
- Department store sales are expected to decline by 60% by the end of 2021
- In the US, ecommerce sales increased by 44% between 2019 and 2020
- Around 51% of today’s online shoppers conduct purchases via phones
- There are more than 2 billion people buying online worldwide
General Ecommerce Statistics 2023
- Ecommerce sales is forecast to account for 21% of all global retail sales in 2022 and 95% by 2040.
- US customers spent US$ 870.78 billion on online sales in 2021, a 14.2% increase compared to 2020. Plus, US ecommerce sales accounted for 19.2% of all retail ecommerce sales.
Mobile Ecommerce Statistics 2023
- 53.9% of customers use smartphones for shopping online.
- 4 out of 5 internet users in the US have used their mobile device to shop online.
- Online shoppers spent 4.2x more time on mobile apps than mobile sites, 1.5x more than desktops.
- Cart abandonment rates are higher among mobile users (85.65%) than tablet users (80.74%) and desktop users (73.07%).
Ecommerce Statistics: The Ecommerce Platforms 2023
- There are over 12 million – 24 million ecommerce websites on the internet.
- WooCommerce (33.20% market share) and Squarespace (14.45%) are the most popular ecommerce software platforms on the internet.
- Online businesses using a CRM tool can increase their retail sales by 29%.
- 61% of online consumers say search and navigation are the most important element of online shopping.
- 0.1 seconds improvement in site speed leads to an 8.4% increase in conversion, and increase in average order value by 9.2%.
Ecommerce Statistics 2023: Habits and Characteristics of Online Shoppers
- 80% of consumers are more likely to purchase a product when offered free shipping. “Free shipping” tag increases conversion rates by 50% and online sales by 10%.
- 91% of customers are more likely to purchase from a brand that recognizes, remembers, and provides relevant recommendations and offers.
Ecommerce Statistics 2023: Role of Social Media and Marketing Channels
- Only 54% of online stores have multichannel capabilities. As much as 95% of online businesses do not know the importance of multichannel marketing.
- 74% of customers rely on social media for their purchasing decisions. 78% of customers are influenced by the company’s social posts.
- 54% of US customers have discovered a small business via social media in 2021 alone.
- Younger generations prefer searching for a product on social media platforms (52.3%) than search engines (51.3%).
Ecommerce Trends That Are Powering Online Retail Forward in 2023
- 3D models on product pages increase conversion rates by 250%. 44% of customers are more likely to add the product to their cart, and 27% are more likely to purchase it.
- 35% of customers will frequently shop online if they can virtually (via AR) try the product. Plus, 22% are less likely to visit a physical store.
- chatbots for customer support, voice search, and AI are other major focus areas of the present online businesses.
What Do These Ecommerce Statistics Mean for Your Online Business?
Clearly, the world is moving towards digital as the internet access rate is increasing every second. And while the pandemic has triggered online shopping behaviors, global internet users appreciated shopping online even before.
However, the time for ecommerce is now, and it is critical. Moreover, given anyone can bring their business online with the help of ecommerce website builders, it is easy to open online shops.
Nevertheless, as underlined earlier, online businesses should also embrace the technologies that allow them to connect with the customer, as customer experience matters to the users more than anything. (ACSI fell to 79).
Moreover, social shopping is a serious thing now, accounting for 3.4% of all ecommerce transactions. So, social media presence is not an option anymore.
Additionally, post-pandemic ecommerce is preferred omnichannel, and it is a requirement for survival.