Online shopping and eCommerce have become a significant part of the global economy. By understanding trends in online shopping and how each part of an eCommerce site from customer reviews to social media links can affect the traffic and conversion rate can help online business better serve their customers and increase their revenue.
Below are some online shopping and eCommerce statistics, trends, and even some fun facts you might not have known.
How Often Do Buyers Shop Online?
Each year online sales continue to increase and 64% of Buyers stating that they prefer making purchases online versus going into a store. With online shopping so convenient how often do buyers shop online for products or services?
Online Customer Reviews
Online customer reviews can play an essential role in an online shopper's decision to make a purchase. Online shoppers will look at customer reviews to gain insight into a product that they do not have the opportunity to feel or touch before making a purchasing decision.
Customer Satisfaction and Retention
Customer satisfaction is a crucial part of online shopping and marketing. If customers are satisfied, they are more likely to leave a positive review, recommend your product or company to others, and become a repeat customer.
Statistics show that unhappy customers can tarnish the reputation of businesses and that most customers find the customer experience one of the most important aspects of doing business with a company.
When a shopper abandons a cart, it accounts for a significant amount of lost revenue. Some shoppers may fill their cart as it is an easy way to browse or may simply abandon it after filling it due to such things as shipping times, costs, or uncertainty.
Mobile devices are a part of most consumers everyday lives, and with the ever-increasing technology of these devices, we can do perform a number of functions from communication, finding information, navigating, and even online shopping.
As the mobile influence continues to grow in both the U.S. and the U.K., online shopping outlets and eCommerce sites will benefit from giving their websites a mobile-friendly makeover. Check out these interesting stats about mobile commerce.
What Factors Influence Online Purchases?
A common question among online stores is what compels shoppers to make their online purchase. These influencing factors often push the shopper to complete the purchase instead of abandoning their cart. See below to find out what is most likely to influence and motivate the online shopping community.
Social Media Linking and Influence
Social media and social commerce continue to grow, providing retailers with the unique opportunity to connect with their target audience through social media linking and advertising allowing them to reach a larger audience through sharing. The statistics of social media influences speak for themselves.
Industry Conversion Rates
Having a high conversion rate is one of the primary goals of any online shopping or eCommerce site. The more visitors you convert to customers, the higher your overall sales as well as your market reach.
From 2015 to 2016 the United States average rate of conversion for online shopping was 3% with the U.K average rate of 4.7%. Each industry will experience different conversion rates due to product offerings and the target market they are trying to acquire. Industry conversion rates by industries are as follows:
Trends in Online Shopping By Gender and Generation
Trends in online shopping vary greatly whether you are looking at genders and generation though both genders and al generation spend some time in the online shopping world.
LOCATION TRENDS FOR ONLINE BUYING
While those who live in cities, suburbia, or even in rural areas all participate in online shopping, their shopping habits vary from area to area.
Ecommerce Trends By Parental Status
Parents lead busy lives and online shopping is a great way to help them get what they need to get done with out unnecessary trips to the store or packing up the children to leave the house to get a few items. Check out these stats that show how parents have taken to online shopping with fervor.
Where do buyers make their purchases from?
The beauty of online shopping is the ability to shop from almost anywhere. So the question is, where are online shoppers most likely to make their purchases from.
Online Marketplace Statistics
The online shopping world is broken up into marketplaces, large retailers, independent and boutique stores, and category-specific stores. One of the categories that sees the highest is the online marketplace though the share of the market is definitely skewed.
Fun Facts About Online Shopping
With online shopping on the rise in both the United States and the United Kingdom, there are many interesting facts and stats that you might like to learn about online shopping and eCommerce.
Online shopping and eCommerce business will continue to grow as shoppers utilize their mobile devices to research and make purchases. Becuase online ordering is becoming an important component for consumer shopping, businesses should make sure to mobilize their website and focus on increasing their goals of customer conversion, satisfaction, positive customer experience, and social