In recent decades, online shopping has evolved from a nonexistent industry to a multi-billion dollar industry. Buying online has become a common practice for millions of people around the world. Recently, the number of people buying goods and services online has increased more than ever. In 2018, the proportion of internet users who made at least one purchase online in the last 12 months has risen to 93% in the United States, 97% in the United Kingdom, and 92% in China. In industrialized countries, the market is currently in its scam phase, and there is extremely high and expensive competition between e-commerce companies. Markets like Amazon and AliExpress are thriving, while retailers are struggling to define a single selling point as store and brand loyalty declines and the industry shopping cart cancellation rate is 75%. Brand loyalty can be enhanced through community building (see ASOS Marketplace), loyalty programs, and the perfect mobile and desktop user experience.
|
/ Multimedia Production
|
One of the reasons that online shopping has grown so much over the years is because of the expertise that companies can offer their customers. We are constantly seeing companies adding new features and services for online shoppers to provide the same support and convenience that they are used to from a personal shopping experience.
|
Exploring creative depths |
A lasting journey |
E-commerce data is based on Statista (Statista Global Consumer Survey) primary research, bottom-up modeling, market data from independent databases and third-party sources, analysis of various key market and macroeconomic indicators, developments historical, current trends, proven metrics from key market players, and Statista interviews with market experts.
Digitally distributed services (see eServices), digital media content such as downloads or streaming services (see digital media), online reservations for airplanes and concert tickets, etc. they are not included in the e-commerce market. B2B-eCommerce and the sale or resale of goods (reCommerce and C2C) are not included either. In 2018, an estimated 1.8 billion people worldwide bought goods online (Oxego, 2018). In the same year, global e-commerce revenue amounted to US $ 2.8 trillion US $ 00 million. Doesn't that bring you down yet? How about this: Projections show that global online retail sales grew to $ 4.8 trillion in 2020. The growth of online shopping is simply impressive. This trend does not appear to be slowing down in the near future. This is good news for you, whether you are an online buyer or seller. Almost half of consumers buy more through their smartphones than in the local store (Ibotta, 2018). Some of the B2B e-commerce trends that we have predicted for 2020, such as augmented reality (AR) and virtual reality (VR), need more time to take hold in B2B. With our new e-commerce platform Sana Commerce Cloud, we are prepared for these new technologies, even if they will undoubtedly take a while to prevail in the B2B sector. Another trend that we thought would prevail in 2020 is voice trading. But here, too, there has been a shift in priorities. But one of the trends in B2B e-commerce was accelerated by COVID-19 in 2020: the personalized online experience. B2B companies were suddenly forced by the pandemic to complete their business online and want to offer their customers the same shopping experience they are used to offline. |
The reason for choosing online shopping can range from convenience to attractive prices. Additionally, online businesses are doing their best to bring the online shopping experience as close to the personal shopping experience as possible. This includes providing detailed product descriptions and images to customers. This includes other new features such as 360-degree product views and model size details for online stores in the fashion and apparel industry.
If you already have an ecommerce store, you probably know that as competition grows, it can be difficult to stand out from the crowd. This is why it is important to carefully select your audience and try to focus your efforts on your customers. This online shopping statistic also shows us that a digital presence is crucial for businesses. This means that regardless of where customers eventually purchase (online or at a local store), their customer journey begins online. In most cases, this is on Google or Amazon, where they do their research. This is also why it is crucial for brands to have a strong online presence. By improving the customer experience from the first step, companies have a better chance of getting customers to buy from their store. Understanding the search behavior of potential customers helps companies create a unique experience for them. No two customers who buy online have exactly the same way of buying. This is why it is so important for online store owners to understand what you can do to personalize the online journey for customers. It's no secret that mobile shopping is on the rise. If you also want to create a successful online store, you cannot afford to ignore mobile users and mobile shopping. Consumers use their mobile devices for all steps of the purchase process. As of Q4 2018, desktops accounted for roughly the same number of global e-commerce orders as smartphones. However, smartphones took the lead in visits to retail websites and were the number one device that people used to visit these websites. |