eCommerce trends ? As new online stores are created every day, adding to the existing 12 million eCommerce sites worldwide, the eCommerce industry continues to flourish. The onset of the global pandemic has resulted in a huge surge in online shopping over the last year, and this trend is expected to persist in 2021 and beyond.
During these times when shopping was restricted, consumers have developed new shopping habits and preferences, pushing businesses to adapt in order to meet customers’ needs.
To help you better navigate the evolving business landscape, we’ve compiled must-know eCommerce statistics and trends for 2021.
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The Rise of eCommerce
eCommerce has risen in popularity over the years as technology advanced and became more affordable — the pandemic has only accelerated that growth. Online stores provide convenience and access to users anywhere in the world, and as businesses continue to improve their shopping platforms, eCommerce will only become increasingly prominent.
With so many international eCommerce platforms available, it’s easy for business owners to sell products and services to customers all over the world.
Here are some statistics on the rise of eCommerce over the years:
- U.S. eCommerce sales reached $794.5 billion in 2020, a growth of 32.4% year-over-year. (eMarketer)
- In 2021, over 2.14 billion people worldwide are expected to buy goods and services online. (Statista)
- Around 95% of all purchases are expected to be via eCommerce by 2040. (Nasdaq)
- The number of new Shopify stores increased by 62% between March and April in 2020. (Shopify)
- The cross-border B2C eCommerce market is projected to generate $4.8 billion in revenue in 2026. (Facts & Factors)
- The eCommerce share of total global retail sales is projected to reach 22% in 2023. (Statista)
From this data, it’s evident that eCommerce has a promising future, especially as technology advances and mobile apps become more prevalent. If you continue to focus your efforts on your online store, you’ll be able to reap the benefits for years to come.
Impact of COVID-19 on eCommerce
When the pandemic caused physical stores to shut down, many entrepreneurs took their business online instead. Thanks to the dramatic increase in online shopping, a lot of businesses were able to sustain themselves, or even thrive, since they took advantage of online selling platforms.
Here are some trends on how the pandemic has impacted the eCommerce industry to help you plan for your business moving forward.
- Over 90% of shoppers reported that their online shopping frequency increased due to the COVID-19 pandemic. (DealAid)
- Due to the pandemic, 13% of consumers said they were increasing their use of in-store pickup and drive-up options. (NPD)
- In April 2020, online grocery shopping was around 77% higher than before the pandemic. (NPD)
- When stores closed in April 2020, consumers made smaller purchases and prioritized buying essentials online. (Adobe)
- Digital restaurant orders increased by 138% in May 2020 compared to 2019. (NPD)
The global pandemic has amplified the importance and versatility of eCommerce. Even after lockdown orders were lifted, consumers continued to shop on the web and from their mobile devices due to its convenience.
Consumer Behavior Trends
With restrictions in place for many stores and restaurants, consumers turned to online shopping to buy food and other essentials. Online takeout orders skyrocketed and buy online, pick up in-store (BOPIS) orders more than doubled year-over-year.
Consumers prioritize convenience and delivery when it comes to online shopping, things that business owners should keep in mind when implementing measures to improve customer service. Below are some eCommerce trends on consumer behavior to help you find strategies to attract and retain customers.
- In 2020, U.S. consumers spent over 14 billion hours online shopping. (Adobe)
- 98.1% of shoppers say delivery impacts their brand loyalty. (Retail TouchPoints)
- 77% of consumers say they would shop more from a website where they are allowed to chat with an associate. (LivePerson)
- Older shoppers —55 and older—have shifted their shopping to online, even long after social distancing restrictions were put in place (NPD).
- 84% of shoppers reported that they are unlikely to shop with a brand again after a poor delivery experience. (Retail TouchPoints)
- Consumers prioritize convenience over cost —they’re willing to spend more to get what they need. (Deloitte)
- A third of online consumers prefer BOPIS or curbside delivery. (Adobe)
Delivery can make or break the customer experience, so it’s essential to get it right. Make sure you have a robust delivery tracking and customer support system in place to provide customers a smoother purchase experience.
While many businesses use chatbots for customer support, the data shows that consumers still prefer to talk to a real associate. If you have a dedicated customer support team, be sure to respond to queries as soon as possible.
Social eCommerce Trends
Social media is taking the internet by storm, with new platforms popping up every year In 2020, Facebook launched Facebook Shops — an in-app service that allows businesses to create an online store for customers to access via Facebook and Instagram.
Since social media heavily influences buying decisions, especially for younger generations, having a social media presence could be beneficial for your business’s advertising and marketing efforts.
Below are some reasons why you should leverage social media for your business.
- Online stores that have a social media presence generate 32% more sales on average than those that don’t. (BigCommerce)
- 76.5 million U.S. social media users ages 14 and older were expected to make at least one purchase via a social channel in 2020, up 17.3% YoY. (eMarketer)
- In Q1 2019, over 80% of social referrals to eCommerce sites came through Facebook. (eMarketer)
- In-app spending via Douyin (TikTok) grew 222% in Q1 of 2019. (Marketing to China)
- A 2019 survey found that 20% of millennials and 22% of GenZ social media users in the U.S. and U.K. have been inspired to make a purchase based on an influencer or celebrity recommendation (GlobalWebIndex).
Do your research so that you find the most effective social media platform to promote your business depending on where you’re located.
Mobile Commerce Statistics
Mobile devices allow consumers to buy from their favorite brands from anywhere and at any time. With digital devices becoming more widespread, it’s essential to ensure that your shop is optimized for mobile shopping as well.
Below are additional mobile eCommerce statistics to keep in mind as you develop your mobile strategy.
- It’s estimated that 72.9% of all retail eCommerce will be generated via mobile commerce in 2021. (Statista)
- Smartphones are expected to contribute to over half of online spending by September 2022. (Adobe)
- Amazon is the most popular shopping app in the U.S. with 150 million users in September 2019. (Statista)
- Over $190 billion was spent through smartphone devices in 2020. (Adobe)
- In 2020, U.S. mobile retail revenues are expected to reach 339 billion, up from 207 billion in 2018. (Statista)
- In 2019, 51% of mobile device owners said they had used a mobile retail app to buy something in the past month. (Statista)
It’s just as important to deliver good customer experiences on mobile as it is on the web. To do so, integrate intuitive UX design and keep your brand identity consistent across platforms.
Overall, these statistics point to a bright future for the eCommerce industry. To keep up with the changes in the business landscape, create an online presence for your business and take advantage of all the digital tools available to enhance the online shopping experience.
With an abundance of website creation tools, eCommerce shop themes and templates available, it’s possible for anyone to start an online business.
By securing a position in the eCommerce market with your online shop, you’ll be able to reap the benefits as the industry continues to grow and expand in the future.
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