27 E-Commerce Statistics Any New or Existing Business Should Know to Increase Their Conversion Rates in 2019
It's 2019 and E-Commerce is still on the rise!
Not only is it booming now, but it will only go up from their year after year. The time is now to boost your income with an e-commerce business or increase your current conversion rates by targeting customers in what I like to call "demographic demand".
We have compiled a list of E-Commerce statistics from numerous data-focused companies whom we trust. Some of these stats are expected and many were shocking. Knowing these stats can reap great rewards allowing you to see what group of people you can target to increase your conversion rate and sales. You may also find ways to optimize your site differently, enhance user experience and more.
Let us know in the comments what stats you found particularly interesting.
- In 2017, e-commerce was responsible for $2.3 trillion in sales, which is expected to nearly double to $4.5 trillion by 2021.
- If a potential customer can watch a video explaining a product or service beforehand, 73% of them are more likely to make a purchase.
- In the U.S. alone, online shopping already accounts for 10% of retail sales and is expected to grow at a year-on-year rate of 15%.
- 63% of global internet users are expected to purchase products online in 2019 (Statista)
- 24% of shoppers are ready to spend more to qualify for free shipping, so this is a great way to increase the average order value. (Hubspot)
- 67% of millennials and 56% of Gen Xers preferring to shop online versus in a brick-and-mortar store.
- By 2040, 95% of online purchases will be via e-commerce
- 71% of mobile purchases are influenced by emails from the retailer
- 70% of shopping carts are abandoned. More than 60% of consumers who abandoned their carts did so because of shipping costs, while 57% of people who abandon their shopping carts say that they were “window shopping.”
- Abandoned Cart Emails Sent within 20 Minutes Have an Average Conversion rate of 5.2% (SaleCycle).
- 51% of Consumers Trust Companies Who Make It Easy for Visitors to Contact the People behind the Company (KPMG)
- Organic traffic improves by up to 157% with videos (Hubspot)
- More than 60% of customers say that they prefer digital self-serve tools, such as websites, apps, or chatbots to answer their simple inquiries.
- 77% of customers read product reviews before making a purchase.
- 59% of e-commerce sales were made through mobile. - Emarketer
- 74% of consumers rely on their social networks to make purchasing decisions.
- 56% of users that follow brands on social media just to view products.
- Millennials and Gen Xers spend 50% more time shopping online than their older counterparts: 6 hours versus 4 hours.
- 96% of Americans have made at least one online purchase in their life, with 80% doing so in the last month alone
- If a store has a social media presence, they increase their average sales by 32 percent (Big E-Commerce)
- 43% of e-commerce traffic coming from organic Google searches.
- PayPal transactions have 70% higher checkout rates than non-Paypal transactions. There Are More Than 254 Million Active PayPal Accounts in The World (Statista)
- Exit-Intent Campaigns Convert Between 2-4% of Abandoning Visitors (Sleeknote)
- If the content is visual, it’s 40 times as likely to get shared on social media (DreamGrow)
- Online adults aged 18-34 are most likely follow a brand via social networking (95%). (MarketingSherpa)
- 37% of customers will leave your website if they find the layout unattractive or too difficult to use
- 57% of customers will abandon your site if they have to wait 3 seconds or longer for a page to load.