15 Mind-Blowing Stats To Guide Your eCommerce Strategy In 2020

Magento-eCommerce-platform · 2 years ago · 531 views

Although eCommerce is still a relatively small part of overall retail sales, online shopping is growing for both business and consumer buyers.In this edition of “Mind-Blowing Stats,” we take a look at the state of eCommerce, how and how much people and businesses buy online, and what eCommerce trends to expect in the future.1. US eCommerce sales currently average out at 10.5% of total sales. (Source: Smart Insights)2. While 65% of B2B organizations either have an eCommerce site or plan to launch one by year-end, a large number have no strategy at all. (Source: Gartner)3. Today, two in three businesses (66%) that sell online are already selling cross-border. (Source: Visa)4. Global online retail sales will reach $4.2 trillion in 2020. (Source: eMarketer)5. Consumers spent a whopping $28.5 billion online during Cyber Week 2019 (the five-day period between Thanksgiving and Cyber Monday), which is up 17.7% YoY. A record $10.8 billion (38%) of total online spend came from mobile. (Source: Adobe)6. B2B eCommerce transactions will reach $1.5 trillion by 2021. However, that will make up just 13% of total B2B sales that year. (Source: Forrester)7. Forty-four percent of respondents to a survey of more than 10,000 consumers indicated they are likely to use voice services in at least some part of their shopping journey in the next three years. (Source: Amazon Pay)8. Global eCommerce will surpass global brick-and-mortar sales by 2036. (Source: Chain Store Age)9. Earlier this month on Giving Tuesday, more than 1 million PayPal customers across 184 markets donated approximately $106 million to charitable causes. (Source: PayPal)10. Sixty percent of online shoppers in the US are dissatisfied with their online holiday shopping experiences, up four percentage points from last year and nearly double the number from just four years ago. (Source: Pitney Bowes)11. Nearly nine out of 10 consumers said they will make a complaint or take an action that could hurt a brand’s reputation and bottom line following a bad post-purchase experience. (Source: Pitney Bowes)12. On average, the conversion rate in eCommerce is 5% from website to basket and 1.4% from website to sales. (Source: Styla)13. BOPIS usage (buy online, pick up in store) for Cyber Week 2019 grew 47.8% year over year. Consumers were 20% more likely to convert with retailers that offered BOPIS vs. those that didn’t. (Source: Adobe)14. Nearly 86% of online retailers are investing in expanding their eCommerce experience over the next 12 months. (Source: Accenture)15. Across industries, 69% of customers want omnichannel and multichannel services, and multichannel customers are typically 15% more profitable than digital-only customers. (Source: Accenture)Originally published at https://magento.com.15 Mind-Blowing Stats To Guide Your eCommerce Strategy In 2020 was originally published in Magento eCommerce Platforms on Medium, where people are continuing the conversation by highlighting and responding to this story.

Although eCommerce is still a relatively small part of overall retail sales, online shopping is growing for both business and consumer buyers.

In this edition of “Mind-Blowing Stats,” we take a look at the state of eCommerce, how and how much people and businesses buy online, and what eCommerce trends to expect in the future.

1. US eCommerce sales currently average out at 10.5% of total sales. (Source: Smart Insights)

2. While 65% of B2B organizations either have an eCommerce site or plan to launch one by year-end, a large number have no strategy at all. (Source: Gartner)

3. Today, two in three businesses (66%) that sell online are already selling cross-border. (Source: Visa)

4. Global online retail sales will reach $4.2 trillion in 2020. (Source: eMarketer)

5. Consumers spent a whopping $28.5 billion online during Cyber Week 2019 (the five-day period between Thanksgiving and Cyber Monday), which is up 17.7% YoY. A record $10.8 billion (38%) of total online spend came from mobile. (Source: Adobe)

6. B2B eCommerce transactions will reach $1.5 trillion by 2021. However, that will make up just 13% of total B2B sales that year. (Source: Forrester)

7. Forty-four percent of respondents to a survey of more than 10,000 consumers indicated they are likely to use voice services in at least some part of their shopping journey in the next three years. (Source: Amazon Pay)

8. Global eCommerce will surpass global brick-and-mortar sales by 2036. (Source: Chain Store Age)

9. Earlier this month on Giving Tuesday, more than 1 million PayPal customers across 184 markets donated approximately $106 million to charitable causes. (Source: PayPal)

10. Sixty percent of online shoppers in the US are dissatisfied with their online holiday shopping experiences, up four percentage points from last year and nearly double the number from just four years ago. (Source: Pitney Bowes)

11. Nearly nine out of 10 consumers said they will make a complaint or take an action that could hurt a brand’s reputation and bottom line following a bad post-purchase experience. (Source: Pitney Bowes)

12. On average, the conversion rate in eCommerce is 5% from website to basket and 1.4% from website to sales. (Source: Styla)

13. BOPIS usage (buy online, pick up in store) for Cyber Week 2019 grew 47.8% year over year. Consumers were 20% more likely to convert with retailers that offered BOPIS vs. those that didn’t. (Source: Adobe)

14. Nearly 86% of online retailers are investing in expanding their eCommerce experience over the next 12 months. (Source: Accenture)

15. Across industries, 69% of customers want omnichannel and multichannel services, and multichannel customers are typically 15% more profitable than digital-only customers. (Source: Accenture)

Originally published at https://magento.com.

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15 Mind-Blowing Stats To Guide Your eCommerce Strategy In 2020 was originally published in Magento eCommerce Platforms on Medium, where people are continuing the conversation by highlighting and responding to this story.