If you can\u2019t buy it online, they say, it doesn\u2019t exist. A glance at Amazon or eBay suggests there is truth to the adage. But how true is it? Are brick-and-mortar shops going away ultimately?<\/p>\n\n\n\n
E-Commerce is the new goldmine as billions of people have seamlessly migrated to buying whatever they need online without much stress. Physical stores have noticed a significant decrease in patronage over the years after the emergence of online shopping.<\/p>\n\n\n\n
These e-Commerce statistics tell us where we are so we can figure out where we are going.<\/p>\n\n\n\n
The world of e-commerce has been on a sporadic increase since the advent of the pandemic and is not slowing down any time soon. <\/p>\n\n\n\n
Let’s dive in and look at the trending e-Commerce statistics for 2023.<\/p>\n\n\n\n
(Shopify)<\/p>\n\n\n\n
Projections suggest that reliance on e-Commerce transactions is only going to increase. Today, North America, one of the leading retailers, is investing in building market share and boosting sales. Projections were made that its B2B e-Commerce market share will reach $1.8 trillion by the end of 2023.<\/p>\n\n\n\n
(Oberlo & Fit Small Business) <\/p>\n\n\n\n
According to global e-Commerce statistics, Amazon surpassed eBay in 2023, claiming 47% of all e-Commerce transactions, which translates to 37.8% of total U.S. retail sales. E-Commerce growth statistics show that digital shopping accounts for over three-quarters of real retail growth, fueling the industry\u2019s expansion.<\/p>\n\n\n\n
(Insider Intelligence)<\/p>\n\n\n\n
Amazon has been at the forefront of e-Commerce for years, and revenues keep rising, jumping from $178 billion in 2017 to $232 billion in 2018 and now $220 billion in 2022. Amazon\u2019s sales rival those of enormous brick-and-mortar franchises like Walmart and Ikea. Alibaba and eBay are significant forces in e-Commerce, but Amazon wins the prize as the world’s largest online retailer. <\/p>\n\n\n\n
According to Insider Intelligence, the continuous rise in online shopping and e-commerce will significantly increase Amazon\u2019s revenue generation to about $746.22 billion by the end of 2023.<\/p>\n\n\n\n
(Motley Fool)<\/p>\n\n\n\n
While Amazon Prime members spend around $1,400 on online shopping yearly, their non-Prime counterparts spend about $600.<\/p>\n\n\n\n
(Earth Web)<\/p>\n\n\n\n
Amazon\u2019s e-shopping app leads the way as the most popular online shopping application on the web. Walmart, which ranks second, has just 86 million users. Business Insider says more than half of Amazon\u2019s mobile customers purchase via mobile browsers<\/a>, not the app.<\/p>\n\n\n\n (Exploding Topics)<\/p>\n\n\n\n With a user base more prominent than the population of all but a handful of countries, Amazon pioneered free shipping as the norm, driving its competitors to do the same. <\/p>\n\n\n\n Data from 2023 suggests that Amazon Prime subscribers have increased from 165.5 million in 2022 to 167.2 million as of 2023, a 3.7 million increase.<\/p>\n\n\n\n (Earth Web)<\/p>\n\n\n\n Amazon\u2019s broad customer base and efficient management system allow them to employ more employees. This is to cater to all their platforms, such as Amazon, Amazon Prime, and more. <\/p>\n\n\n\n (Business Dit)<\/p>\n\n\n\n The power of social media has proven numerous times to be a game-changer, especially regarding marketing. Social networks like Facebook<\/a>, Twitter, and Instagram<\/a> have become invaluable platforms for cost-effective marketing. Reaching target audiences has been challenging.<\/p>\n\n\n\n (Wolfgang Digital)<\/p>\n\n\n\n Some 43% of e-commerce site traffic comes from Google searches, 26% from Google AdWords. Most internet consumers rely on search engines for items and the latest releases, making the platform a reliable place to find products and brands.<\/p>\n\n\n\n (Statista)<\/p>\n\n\n\n China\u2019s $159 billion consumers is a considerable jump from 2015, when mobile payments via QR codes accounted for approximately $1 trillion. The country has made significant efforts to push e-Commerce into the mainstream, which accounts for about 42% of the world\u2019s online shopping.<\/p>\n\n\n\n According to Statista, in 2022, China spent $159 billion in mobile transactions, up from $151 billion in 2021.<\/p>\n\n\n\n (Back Linko)<\/p>\n\n\n\n U.S. e-commerce statistics reveal that over a quarter of Americans block ads on connected devices. In response, companies have begun paying more attention to customer retention and organic methods of driving sales without ads.<\/p>\n\n\n\n (PR Newswire)<\/p>\n\n\n\n With little more than half of American small businesses using the internet to generate sales, it\u2019s no wonder the prominent e-Commerce vendors are snapping up market share. E-Commerce statistics show that as many as 44% of small business owners planned to create one – 28% don\u2019t even have company websites.<\/p>\n\n\n\n (Outer Box)<\/p>\n\n\n\n As far back as 2015, e-Commerce mobile statistics<\/a> claimed that mobile traffic overtook desktop use in online shopping. Online retailers must adapt their businesses for mobile users. <\/p>\n\n\n\n From website design to apps to search engine optimization, companies do everything they can to reach millions of potential customers who are more comfortable on their smartphones<\/a> than desktops. <\/p>\n\n\n\n According to online shopping statistics, 50% of Black Friday 2022\u2019s online purchases were made via smartphone. <\/p>\n\n\n\n (Shopify)<\/p>\n\n\n\n Facebook\u2019s marketing capabilities are unprecedented. Studies show that a Facebook user who clicks on an ad is ready to spend an average of $55. The company\u2019s annual ad revenues will grow to $113.6 billion by 2022.<\/p>\n\n\n\n How many people shop online worldwide? How many use credit and debit cards? What is the cart abandonment rate? <\/p>\n\n\n\n All these questions are answered below with their current statistics.<\/p>\n\n\n\n (Oberlo) <\/p>\n\n\n\n E-Commerce growth statistics like these drive entrepreneurs to invest in online retail enterprises. With a global population of about 8 billion, online shopping will soon be a reality for 33.3%.<\/p>\n\n\n\n (Klarna)<\/p>\n\n\n\n Demographics of online shoppers show that millennials love e-Commerce. They are a driving force behind the expansion of online shopping today, and millennials\u2019 online shopping statistics show they will continue to fuel e-Commerce expansion in the future.<\/p>\n\n\n\n (Baymard Institute)<\/p>\n\n\n\n About 53% of respondents name high shipping rates as the justification for logging off without completing their purchases. Another 31% complain about creating an account for making a purchase, and 23% consider the checkout process too long or complicated.<\/p>\n\n\n\n (Payments Cards and Mobile)<\/p>\n\n\n\n Debit card payments increased by 19.3%, almost twice the rate of credit card payments<\/a>. The second-most-popular payment option is Paypal (32%). More than half (58%) of European e-shoppers prefer to stick with their leading bank when purchasing.<\/p>\n\n\n\n (Drip)<\/p>\n\n\n\n According to Drip, there are several reasons for cart abandonment, and this causes brands to lose over $18 billion yearly. They include;<\/p>\n\n\n\n (Shopify)<\/p>\n\n\n\n What is a click worth? On Facebook, the average click on an ad nets the advertiser $55. At Shopify, it\u2019s $65. Click rates vary from platform to platform, but it brings consumers to targeted ads, increasing a brand\u2019s sales.<\/p>\n\n\n\n (Gitnux) <\/p>\n\n\n\n As many as 71% of online shoppers say they\u2019ll likely buy products through the influence of social media<\/a> referrals, listing Facebook, Pinterest, Instagram, Twitter, and Snapchat<\/a> as their favorite platforms for finding products.<\/p>\n\n\n\n (Oberlo)<\/p>\n\n\n\n Smartphones, tablets, smart speakers, and digital assistants demonstrate that keyboards are rapidly becoming optional. This shift will significantly impact e-Commerce, as more people expect to make orders using voice commands alone.<\/p>\n\n\n\n Over 51% of U.S. shoppers use voice assistants to research products, as about 33.2 million Americans use smart speakers online.<\/p>\n\n\n\n (Finical Holdings)<\/p>\n\n\n\n E-commerce statistics worldwide reflect that over 79% of Americans have made at least one online purchase. The convenience of online shopping and door-to-door delivery attracts Americans to e-Commerce.<\/p>\n\n\n\n (Business2Community) <\/p>\n\n\n\n6. As of 2023, there are over 167.2 million U.S. Amazon Prime members.<\/strong><\/h4>\n\n\n\n
7. Amazon has over 1,541,000 full-time and part-time employees as of 2023.<\/strong><\/h4>\n\n\n\n
8. Retail e-Commerce statistics show that 93.79% of companies integrate social media marketing into their business.<\/strong><\/h4>\n\n\n\n
9. E-Commerce statistics suggest that if you want customers to find your site and your products, Google is the key.<\/strong><\/h4>\n\n\n\n
10. In 2022, consumers in China paid over $159 billion through mobile payments alone.<\/strong><\/h4>\n\n\n\n
11. Adblocking threatens e-Commerce. Today, about 27% of American internet users employ advertising-blocking tools.<\/strong><\/h4>\n\n\n\n
12. Only 71% of small businesses have an online platform or website.<\/strong><\/h4>\n\n\n\n
13. Mobile e-Commerce statistics show that over 50% of purchases made during the holiday season of 2022 were made via smartphones.<\/strong><\/h4>\n\n\n\n
14. Facebook e-Commerce statistics reveal that the platform is home to 85% of all social media purchases.<\/strong><\/h4>\n\n\n\n
Consumer Behavior in e-Commerce<\/strong><\/h3>\n\n\n\n
15. Online shoppers could climb up to 2.64 billion by the end of 2023.<\/strong><\/h4>\n\n\n\n
16. Studies say millennials make 58% of their purchases online.<\/strong><\/h4>\n\n\n\n
17. The average shopping cart abandonment rate as of 2023 is 69.99%.<\/strong><\/h4>\n\n\n\n
18. European eCommerce statistics show that 19.3% of online shopping is paid with a debit card.<\/strong><\/h4>\n\n\n\n
19. E-Commerce brands lose $18 billion in sales revenue yearly because of Cart abandonment.\u00a0<\/strong><\/h4>\n\n\n\n
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20. Shopify statistics show that those who click on ads spend an average of $65 at the sponsoring eCommerce sites.<\/strong><\/h4>\n\n\n\n
21. According to social commerce statistics, 71% of online shoppers say recommendations on social media influence their purchases.<\/strong><\/h4>\n\n\n\n
22. E-Commerce shopping statistics show that voice and image searches make up over 51% of all searches.<\/strong><\/h4>\n\n\n\n
23. According to e-Commerce statistics, most American adults have made online purchases at least once.<\/strong><\/h4>\n\n\n\n
24. E-Commerce return statistics suggest that 30% of online products are returned, compared to only 8% bought in brick-and-mortar stores.<\/strong><\/h4>\n\n\n\n