Updated: Feb 17
Hi there, are you into E-Commerce? Business Owner? Entrepreneur? Online Marketer?
I hope these below stats/facts about E-Commerce Industry will be an eye-opener to you that might help in your business/marketing models and also I suggest considering these as educational purposes only:
A vast majority of eCommerce companies who haven't expanded internationally (87%) haven't yet made any attempts to do so.
When it comes to managing online transactions, executives are prepared for accounting for handling of taxes (52%), payment processing infrastructure (52%) and international shipping and handling (52%). But they are less prepared for international customer support (47%) and legal compliance (43%).
Half (51%) of eCommerce companies who already sell internationally do not feel completely confident that their company knows how to maximize their international online sales.
At 39%, female executives in eCommerce companies trail their male peers (48%) in believing that international expansion could immediately increase their revenue.
For eCommerce companies expanding into foreign markets, key barriers to entry include shipping and logistics issues (42%) and difficulty accepting and processing foreign transactions (37%). Tied for the third spot are legal and trade issues (33%) and limited marketing resources (33%).
When it comes to getting products to consumers, the largest hurdle for eCommerce companies is still shipping and logistics (23%), followed by lack of data or analytics for international customers (13%) and cost of expansion (12%).
66% of eCommerce companies sell products across borders.
eCommerce companies that sell products across borders report that 31% of their revenue comes from cross-border sales on average.
An overwhelming majority (88%) of executives believe that having an international presence will be essential for their company's success in the next five years.
87% of merchants believe that expanding online sales into new markets is one of their company's biggest growth opportunities.
Over 60% of eCommerce shoppers indicated that they had first discovered the new brand or product via their smartphones.
When asked how they first heard of a new product/brand, the three top answers from eCommerce shoppers were "I saw it at a retail store" (30%), "I saw it in a social media ad" (24%), and "I saw positive customer reviews about the product" (19%).
72% of merchants consider reducing the number â¨of abandoned carts to be one of their top challenges.
31.41% shoppers abandon their cats cause they are not ready to buy.
Abandoned Cart Emails are the most widely used mitigation strategy.
65% of merchants use abandon cart emails as a tactic to reduce the number of abandoned carts in their store.
12% of merchants use retargeting ads as a tactic to reduce the number of abandoned carts in their store.
Up to 16% of shoppers abandon cart if their preferred payment option isn't available.
A total of 57% of shoppers say they'll cancel their orders if shipping costs are too high, and 39% will abandon cart if you don't offer free shipping.
A total of 60% of global online sales takes place on marketplaces.
When looking at share of traffic by device, mobile has hit its tipping point with 50 percent of all sessions coming from a smartphone device, 9 percent coming from a tablet and 41 percent of sessions coming from desktop, making it critical for retailers and brands to re-evaluate and optimize mobile experiences including addressing site speed, content priority and user experience.
Units per order on desktop are 24 percent higher than mobile and units per order on tablets are 14 percent higher than mobile.
Quantity pays off for direct traffic as a source of website traffic in that it not only offers the most visits but also provides the highest basket sizes, tied with email, with 3.4 units per order.
That's all for now....
Hope these stats/facts help in planning and maximizing your E-Commerce business performance!
All the best...