Essential Ecommerce Statistics To Strengthen Your Strategy in 2023 (with Infographic)

Ecommerce statistics: we all love them. Whether it's to motivate our urge to start a new business, marvel at the rapid growth of the ecommerce industry, or to find little tidbits of information that may help our own stores, these ecommerce statistics often clarify/verify our decisions and lead us to new conclusions.

The only problem is that most statistics you find online are either outdated or extremely inaccurate. Some of this is because statistics articles rarely get updated, or you might just encounter some blog posts trying to sensationalize information, or “cherry pick” to get their points across.

That's the reason we've compiled this list of ecommerce statistics.

Not only are these statistics accurate—based on credible research and data—but they're up to date, relating to the most recent versions of the ecommerce world we know and love. This way, you have information that's actually useful to make decisions for your own business.

With that said, keep reading to check out our favorite ecommerce statistics, the ones that are bound to assist your business decisions and motivate you to improve.

1. Almost 25% of all purchases are now made online

In 2022, forecasts show that the ecommerce industry will be valued at $5.5 trillion. To reach that number, it means that 24.5% of all purchases are expected to be online.

Anyone thinking of starting an ecommerce business in the years ahead has a lot to look forward to. Around 2.14 billion shoppers are now active online. This means around 27% of all people are digital buyers. In 2022 alone, over 2.3 billion consumers made at least one purchase using ecommerce platforms.

In other words, ecommerce shopping continues to grow on a regular basis. Some years it slows down; other years it increases. But there hasn't been a year where we haven't seen growth when compared to brick-and-mortar (in-person) shopping.

This means that businesses without an online presence should consider building a shop to keep up with the trends. It's also not a bad idea, for entrepreneurs, to incorporate online shopping into the initial business plan—or make an online store the primary sales channel.

2. Ecommerce sales have reached $870 million for the year

In 2021, ecommerce sales flew to $870 million, and that's only in the United States. That's a boost of 14.2% over 2020, and an increase of 50.5% over 2019. For 2022, the experts predicted the number of ecommerce sales would account for 5% of global retail sales. Some analysts said ecommerce sales would even exceed $257 billion globally.  By 2025, conversion rates are expected to rise even further, accelerated by the changes caused during the pandemic. Research shows the number of ecommerce sales will reach a value of $7.4 trillion by 2025.

Sales are a little different from the overall value of the industry, but both of those numbers are increasing on a regular basis, and quite rapidly. What's also interesting is that the growth doesn't seem to be slowing down.

There's still room for new businesses to get a piece of the pie. It's possible that online sales won't decline for a very long time. Sure, some ecommerce niches are saturated, but the entire market is still expanding as time passes. So, finding a niche with potential is key.

3. Ecommerce will take a share of 21% of all retail

It is predicted that, by the end of 2023, retail ecommerce sales would make up for around 20.8% of all retail transactions. This demonstrates the continued power of ecommerce growth. Ecommerce revenue is growing around the world, as consumers from various markets move away from in-store shopping in favor of online and mobile shopping.

There's not a single industry that isn't affected by online shopping. It doesn't matter if you're in healthcare, motor vehicle parts, or food and beverage, some of your customers (at least 21% of your market) want to shop online.

4. The vast majority of shoppers complete research before buying online

In fact, 87% of shoppers go through some sort of research before making an online purchase. This type of research may include price comparisons, reading blog posts, checking reviews, and asking people in forums about their experiences with products.

Making an online store isn't always enough to sell products. It's wise to create additional content like user guides, blog posts, comparison pieces, and tutorials. It's also important to activate customer reviews on your website, since consumers like seeing what other people have to say. Finally, do your best to get your products featured by other publications, on forums, and even by social media influencers.

Research is particularly common among younger generations, including millennials and Gen Z. Around 45% of Gen Z customers cross-reference prices before making a purchase. However, baby boomers and Gen X customers are less likely to browse through multiple stores before making purchasing decisions.

5. Worldwide, online sales reached $4.2 trillion

Customers in today’s ecommerce landscape don’t necessarily wait until they’re at home to start their research. 28% of US shoppers use mobile phones when in a physical store to read product reviews, check prices, and calculate extra costs.

This is a great opportunity for companies who create mobile apps and websites with comprehensive marketing campaigns to connect to their target audience. With the right marketing plan, you can connect with online customers while they’re still in brick and mortar stores.

6. 2.14 billion people around the globe shop online

Thanks to the simplicity of online shopping, the number of people making purchases with their credit cards and debit cards online is increasing. The average consumer makes around 19 online transactions each year. With the rise of social commerce and social media platforms to help draw attention to stores, there are endless opportunities for any entrepreneur or eMarketer to increase conversion rates.

As global retail sales continue to evolve, an online business can even connect with customers across the world. For instance, ecommerce store providers in China, such as Alibaba, benefit from an average of 22 online transactions per year for each consumer.

7. In the near future, most purchases will be made online

It's common to see ecommerce stats focused on the US market but, in 2021, global ecommerce sales went up to $4.9 trillion, showing that every country around the world is getting in on the ecommerce craze.

By the end of 2023, this number is expected to increase to around $6.3 trillion worldwide. It doesn't necessarily matter where you live, ecommerce stores are popping up everywhere. You also want to consider expanding your sales to other countries, considering the US, or your locale, isn't the only place where people like to shop online. International business is thriving and can boost your sales quite a bit.

For instance, China tops the list of the countries with the most online transactions per year in online markets. So, first time global sellers could definitely benefit from branching out into this region. The US and UK are the second and third biggest markets today. Around 70% of Americans are now shopping online, as of 2022. By 2025, this number is expected to reach a whopping 285 million.

8. More online stores get created every day, and there could be up to 24 million currently active online stores

Studies estimate that anywhere from 12 to 24 million ecommerce sites are active in the world. These range from small startups to the behemoths like Amazon and Walmart.

It's easy, and inexpensive to make an online store. You used to have to spend an extraordinary amount of money to test a business idea, open a physical store, and either decide to keep it running or shut it down. With online store builders, it's far easier, and cheaper to launch a store, and to pull the plug and try another idea if it doesn't work out.

9. Close to every person who has used the internet has made a purchase online

Worldwide, 93.5% of internet users have, at some point, purchased something online. (OptinMonster) This obviously doesn't include people who have never used the internet (or they aren't regular internet users), but it gives us a wonderful idea of how consistent internet users are on-board with ecommerce shopping.

Those who use the internet are already very aware of online shopping. We should continue seeing that percentage get even closer to the 100% mark as years pass. This shows that the learning curve is getting less steep to shop online, especially for demographics who may have avoided it because of complexities, like seniors.

10. Cart abandonment rates are astoundingly high, reaching close to 70%

Across all industries, cart abandonment rates average at 69.82%. (Baymard Institute)

In short, about 70% of online shoppers leave products in their carts without coming back to complete the purchase.

This leaves us with a few conclusions:

1. Stores can gain a competitive advantage by addressing their abandoned carts
2. It's essential to figure out why customers leave products in their carts
3. You should install testing tools on your site to figure out if you need to fix things like site speed, clunky interfaces, how taxes are listed, or even the products you sell

11. The majority of online shoppers prefer digital and self-serve tools for customer support

As consumers continue to leverage their mobile wallets online, it’s important for business leaders to ensure they’re leveraging the right promotional techniques. Around 30% of consumers say that influencer recommendations now affect their purchasing decisions.

This suggests business leaders have an excellent opportunity to enhance their marketing campaigns and drive more sales through social media strategies with influencers. However, it’s worth accounting for the extra costs of working with influencers too.

12. Most online shoppers say that customer experience is more important than price

Studies show that 64% of customers see a stronger shopping experience as more important to them than price. (Gartner)

That doesn't necessarily mean that people don't care about price. 36% still care about price more, and that 64% still probably looks at price just as intently as they always did. This simply tells us that a wonderful price will not make someone buy if the user experience is terrible. So, never cut costs on the shopping experiences. There's only so much of a price decrease you can offer before customers begin disliking your user interface, customer service, and online resources.

13. Very few visits to online stores actually convert into purchases

Only 2.17 percent (2 out of every 100 people—globally) of visits to ecommerce stores turn into conversions. (STATISTA)

That may sound like a rather low number, but online selling has always been a tough game of convincing customers to complete the entire process of buying. This makes it clear that there's room to stand out against your competition by improving your shopping experience. It should be an ongoing process of figuring out how to boost that rate, since the majority of your site visitors will leave the site without shopping. How can you make it so that more and more visitors shop around and make a purchase?

14. By 2023, online sales will reach $6.17 trillion

2023 looks to follow along with the trends we've seen over the years with ecommerce. Analysis of statistics shows that sales will reach $6.17 trillion by that year, with ecommerce taking up to 22.3% of all retail sales. (Shopify)

Physical retail is becoming less prevalent. If selling in the retail space, consider moving part of your inventory to an online store. Look for multiple channels as well, considering most online stores can expand their sales by looking to marketplaces, social media sites, and resellers.

Ecommerce Statistic #15: Free shipping is the best way to convert customers

While a number of things can affect your conversion rates as an ecommerce store owner, from the functionality of your site to your search engine optimization strategy, free shipping could help you gain a larger market share.

Around 53% of consumers say free shipping convinces them to shop online. This may be one of the main reasons digital buyers tend to flock to Amazon. Followed by free shipping, consumers rank coupons and discounts as extremely important (41%) as well as reviews from other customers (35%) and a simple returns policy (33%).

Ecommerce Statistic #16: Very few visits to online stores actually convert into purchases

Only 2.17 percent (2 out of every 100 people—globally) of visits to ecommerce stores turn into conversions. (STATISTA)

That may sound like a rather low number, but online selling has always been a tough game of convincing customers to complete the entire process of buying. This makes it clear that there's room to stand out against your competition by improving your shopping experience. It should be an ongoing process of figuring out how to boost that rate, since the majority of your site visitors will leave the site without shopping. How can you make it so that more and more visitors shop around and make a purchase?

Ecommerce Statistic #17: Younger customers are more likely to shop online

Perhaps unsurprisingly, younger customers are more inclined to shop online. These digital natives are more than comfortable with the checkout process, and have grown up in a world connected to the internet. In the US, around 38.4% of online shoppers are under the age of 35. Additionally, Millennials make up the largest group of online shoppers overall.

While older shoppers are becoming more common in the digital world, business leaders may need to make extra steps to make their stores as simple and accessible as possible. Offering a range of payment methods, a simple checkout process, and tools for mobile shopping could help to expand your reach.

Ecommerce Statistic #18: By the end of 2023, online sales will reach $6.17 trillion

2023 looks to follow along with the trends we've seen over the years with ecommerce. Analysis of statistics shows that sales will reach $6.17 trillion by that year, with ecommerce taking up to 22.3% of all retail sales. (Shopify)

Physical retail is becoming less prevalent. If selling in the retail space, consider moving part of your inventory to an online store. Look for multiple channels as well, considering most online stores can expand their sales by looking to marketplaces, social media sites, and resellers.

#19: 76% of people will abandon a store after 2 bad experiences

Providing your customers with the best possible online shopping experience is one of the best things you can do as a business leader. Around 76% of people will stop doing any kind of business with a company after just 2 bad experiences.

This means business leaders need to ensure they’re investing in making the experience as simple as possible for consumers. Offering different payment methods like PayPal, supporting mobile ecommerce, and delivering an excellent customer service strategy are all great ways to boost your chances of success.

20. Around 52% of ecommerce sites have omnichannel capabilities

Today’s consumers are using a range of resources to help them shop, from smartphones to in-store interactions. To capture the most potential customers, and reduce shopping cart abandonment, companies are investing in omnichannel capabilities.

Around 52% of ecommerce sites now have omnichannel functionality. Notably, if you want to take advantage of the growth rate of omnichannel stores, it’s not enough to have just an effective woocommerce store. You also need to think about how you can engage with your audience through social commerce, on mobile, and in-person. 

21. Mobile ecommerce will account for 42.9% of ecommerce sales by 2024

Speaking of the power of mobile devices, statistics show that mobile ecommerce will account for around 42.9% of all sales by 2024.

Increasingly, companies are relying on their smartphones and devices when they want to shop online quickly and conveniently. For ecommerce retailers, this could mean it’s time to invest not just in mobile websites, but apps too.

The easier it is for your customers to shop with you on any device, without having to compromise on experience, the more likely you are to generate sales. 

Ecommerce Statistics Infographic

We have created this info graphic in order to summarize all the stats in one place.

Share this infographic on your website:

<img src=”https://ecommerce-platforms.com/wp-content/uploads/2022/07/Ecommerce-Statistics-Infographic.png” width=”100%” alt=”Ecommerce Statistics Infographic”><br /><br /><br /><br /><br /> <a href=”https://ecommerce-platforms.com/articles/ecommerce-statistics”><br /><br /><br /><br /><br /> </a><p><strong>Ecommerce Statistics Infographic</strong>, courtesy of <a href=”https://ecommerce-platforms.com/articles/ecommerce-statistics”>Ecommerce Platforms</a></p>

Summary

With these stats, we can come up with all sorts of conclusions. Is the ecommerce market alive and well? Yes. Is it growing at a rapid pace? Absolutely. Can we expect new businesses to pop up on a regular basis? You bet.

Our main conclusion is that the world of ecommerce has a bright future. Not only that, but we'll potentially see a point where almost all retail purchases are made online, with some sort of restructuring of how physical retail shops get used (for show rooms or other complementary purposes).

We encourage you to bookmark this page to check in on the state of ecommerce from time to time. To ensure they're relevant, we regularly update this list of the most important statistics. We also suggest using the stats as guides to decision-making for your own store. Do you see a stat that customers generally prefer chatbots over email or phone support? Well, that could mean that it's time to at least think about adding a chatbot to your online store. It's statistics like these that make it easier to construct your customer experience. Without them, we're all just making ill-informed business decisions.

Let us know in the comments if you have any questions about these ecommerce statistics. Also, share your thoughts on any other statistics you find interesting—the ones that have helped you in your ecommerce journey—and could influence decisions for other professionals.