The internet has revolutionized how people shop.
Online shopping is more popular than brick-and-mortar shops. This means we spend more time online shopping than in shops.
Do you remember the expression “Shop til You Drop”? Would you rather not visit a physical shop?
Imagine ordering everything online from your own home.
Let’s take a look at the most important statistics regarding online shopping.
1. E-Commerce Growth
Worldwide Number of Digital Buyers 2014-2021
More people are shopping online for goods and services
In 2021, 2.14 trillion people made online purchases.
There have been 460,000,000 more online shoppers since 2016. In 2016, there were 1.66 billion.
Global Retail E-Commerce Sales 2014-2024
Online shopping continues to grow at an incredible rate. Online shopping allows you to shop when you want without having to wait in traffic.
Online shopping is set to continue growing in popularity.
In 2018, ecommerce sales were less than 3K and totaled 2.982 trillion US dollars worldwide. This number increased to 4.206 by 2020 and to 4.927 billion US Dollars in 2021.
By 2022, global retail e-commerce sales are expected to reach 5.695 trillion US dollars.
This projection clearly shows that there’s been a steady increase in ecommerce sales.
2. Are customers more likely to shop online than offline?
Why Global Consumers Shop Online in 2021
Consumers are changing the way they shop for goods and services. E-commerce is becoming more popular.
Nearly 50% of respondents to the poll said that they would not mind if they didn’t shop in a physical location.
These three top reasons are why people shop online.
1. No Shipping Charge
2. Lower prices
3. Convenience
It’s easy to shop online. Online shopping is easy. You can order, pay, and track your shipment right from your home or mobile device.
In 2020 convenience was the top reason to shop online. This position will be at 3. in 2021.
Online shoppers love having their packages delivered right to their doorstep without shipping fees.
Shop online with the 2021 free delivery option.
Here’s what 2021 customers want to buy:
According to research, people are buying more stuff online than ever before. However, some categories have seen an increase in sales, like groceries, cleaning supplies, and vitamins.
Although online shopping has existed since the 2000s, it has seen a rise in popularity since then.
The Pandemic changed the way we shop online and in person. These are now separate categories that can be used to describe different types of products.
You might be able to stop buying electronics shortly, thanks to technological advancements.
It doesn’t matter which product you choose. What matters is what your customer wants and needs at that time.
Offline Shipping Is Still Trending
Internet shopping has become a major part of consumers’ shopping experiences. However, offline shopping continues to be a popular method to shop for products.
Many people still prefer shopping in person. 46% of Respondents stated that they would rather shop in person than online.
But Why?
They can touch, feel and interact with the product. The second reason is the overall experience offered by physical stores. (26%)
An online experience doesn’t offer the same sense of community as a physical one.
The pandemic forced us to leave communities and people behind for a time. Humans are social animals and need interaction.
3. Which are the Most Popular Online Payment Methods
Customers still use debit and credit cards to make purchases more than they do with cash or other digital payment methods
Top digital payment method:
PayPal: A new study has shown that PayPal checkouts convert at 86.7% – 82% higher than those without PayPal.
Others:
- Cash App
- Venmo
- Apple Pay
- Google Pay
According to the research, 9% of customers use crypto to make digital purchases.
4. 2021: Where Consumers Buy Products Online
Online shopping has become increasingly crowded.
Everything you need on the Internet, from your favorite shampoo to romantic getaways.
Amazon is the largest online retailer worldwide. It had almost 3.68 million visitors per month in 2020.
Amazon is one of the most popular websites on the Internet. It will continue to grow in 2020.
Amazon remains the largest online retailer in the world. eBay is closely following with an average of 1,000,000 users.
5. The Effects of COVID-19 on Online Shopping Behavior
Online shopping was a well-known trend. But online shopping has seen a dramatic change since the advent of the coronavirus.
Retailers had to adjust to the digital environment just like customers. Customers also had to be safe when shopping in-store following the coronavirus outbreak.
An online survey revealed that 84.5% of grocery shoppers are concerned about the possibility they might contract coronavirus in-store.
Now let’s take a look at the questions that another researcher asked:
- Can coronavirus spread affect your shopping decisions? 44% of respondents agreed.
- What does coronavirus mean for products you purchase online? 37% said yes.
- Do your online shopping habits make you less likely to shop in-store? 33% of the respondents agreed.
Covid-19 has a significant influence on where, when, and what we buy products and services.
6. Online shoppers don’t pay attention to their carts:
What percent of online shoppers abandon their shopping carts?
All industries have an % average abandonment rate
It is crucial to get customers to place orders. If you work in retail, ecommerce, or both, 80% of abandoners will not return.
Why do customers abandon shopping carts?
Customers might leave our site for many reasons.
High shipping costs: 73% of Shoppers will be more inclined to buy an item if it is free of charge.
Account creation required
Complex Checkout: For most shoppers, the checkout process is the last mile. For 18% of people, a lengthy and complicated checkout process can cause abandoning shopping carts.
Slow page loading: The average consumer has an attention span that is 8 seconds when they are browsing the internet. This is before they get frustrated and leave your website.
Monitor page load times. You must ensure that your website loads quickly.
It’s important to take every step to improve your website.
Kobe Digital offers a Free Performance Tester tool that can be used for assessing your website’s performance.
Summarizing…
These statistics give you valuable insight into top online shopping trends.
We hope that you find the information useful and can use it to improve your online marketing. Statistics will enable them to make better decisions and gain a better understanding of their customers.
Feel free to contact us anytime with any questions.
