Are you curious about the state of the ecommerce industry?
The shift to online shopping has picked up in speed in recent years and that growth is only set to continue.
But as the ecommerce industry continues to grow, it’s also becoming far more competitive. This is why you need data to help you understand current trends.
In this post, we’re taking a deep dive into all of the ecommerce statistics and trends that you need to know.
Since the COVID-19 pandemic rocked the world, the retail landscape has changed permanently. Trends accelerated by quarantine and economic uncertainty are here to stay—including ecommerce as a growing percentage of retail sales. Let’s take a look at about two dozen ecommerce statistics that can help you prepare and capitalize on the growing online shopping landscape.
1. Global ecommerce sales are set to more than double pre-pandemic levels by 2025
In 2019, before COVID-19 and lockdowns forced the rapid expansion of the ecommerce world, ecommerce was valued at $3.4 trillion globally. Insider Intelligence anticipated that ecommerce sales would be up by 12.8% year-over-year, but they increased by 25.7% in 2020—and are poised to hit $7.4 trillion by 2025, over twice the value of the 2019 ecommerce market.
2. Ecommerce is predicted to make up a quarter of all retail sales globally by 2025
With the continued growth of ecommerce, Insider Intelligence forecasts it will make up 24.5% of all retail sales worldwide by 2025, up from 19.6% in 2021. The US market is generally on track to meet that mark as well, with ecommerce sales predicted to hit 23.6% of total retail sales that year, up from 11.0% in 2019.
3. US ecommerce sales are expected to cross a massive threshold in 2022: $1 trillion
In 2022, US ecommerce sales are set to surpass $1 trillion in sales for the first time. Before the pandemic, Insider Intelligence, the source responsible for this figure, did not forecast ecommerce reaching the trillion-dollar milestone until 2024.
4. In the US, ecommerce sales are expected to grow by 14.1% across retail sectors in 2022
Ecommerce growth estimates for 2022 range from 8% to 30% across a variety of retail sectors. Auto and parts took the lead with a 30% increase, followed by food and beverage at 21%, and apparel and accessories at just over 15%.
5. There are currently 9.1 million online retailers in the world, 2.5 million of them in the US
The ecommerce industry is growing rapidly and new stores are popping up every day. According to etailinsights, as of 2022, there are over 9.1 million online retailers globally and 2.5 million in the US alone.
6. 69% of books, music, and videos are purchased online
Of everything you can purchase online, entertainment (books, music, and movies) is the category with the largest majority of online versus in-store revenue. Nearly 70% of entertainment purchases are made online, with the next highest category being electronics and computers at 53%.
7. 78% of retailers increased their ecommerce budget in 2021
The COVID-19 pandemic proved that retailers need an effective online presence to meet their sales goals. As a result, a survey from Inmar found that 78% of retail businesses had planned to increase their ecommerce budget in 2021. Specifically, ecommerce sellers are investing in improving fulfillment capabilities (51%), boosting the online user experience (48%), and diversifying the supply chain (38%).
Ecommerce Statistics: Mobile
8. Mobile sales are anticipated to account for 10.4% of retail transactions by 2025
A report for eMarketer projects that by 2025 transactions made on mobile devices (mobile sales or mcommerce) will account for more than 10% of all retail sales. This nearly doubles the 2021 number of 5.9%.
9. Mcommerce is anticipated to account for over 44% of ecommerce sales by 2025
Retail mcommerce sales increased over 15% in 2021, hitting $359.3 billion. According to Inside Intelligence, by 2025, mcommerce sales should reach $728.28 billion, more than doubling, and account for 44.2% of US retail ecommerce sales.
10. The average conversion rate among ecommerce businesses is 1.78%
Shopping micro-moments and more time online has certainly increased traffic for online retailers. However, very little of this traffic actually becomes buying customers, with ecommerce conversion rates at only 1.78% across industries.
Currently, products related to arts and crafts have the highest ecommerce conversion rates of 4.91%. This category is followed by health and well-being at 3.46% and kitchen and home appliances at 2.9%.
After these three categories, the next five converting product types are as follows:
- Fashion clothing and accessories: 1.58%
- Pet supplies: 1.46%
- Electrical and commercial equipment: 1.39%
- Food and drink: 1.32%
- Cars and other motor vehicles: 1.30%
- Fashion clothing and accessories: 1.58%
- Pet supplies: 1.46%
- Electrical and commercial equipment: 1.39%
- Food and drink: 1.32%
- Cars and other motor vehicles: 1.30%
11. By incorporating augmented reality (AR) into your online site, you can increase conversions rates up to 10 times
Based on a case study from CameraIQ, adding virtual try-on and product views to your site can boost conversion rates up to 10 times by emulating the in-store experience and giving consumers better peace of mind about their purchase.
Conclusion
We hope you found these eCommerce statistics enlightening, and they’ve made you appreciate how vital digital and online retail is for the future. The recent pandemic has made many business owners rethink their approach to making sales, and the popularity of eCommerce is likely to continue to increase over the next few years.