eCommerce Statistics for 2023
- There were two billion digital buyers around the world in 2022. There are expected to be 2.34 by 2023. (source)
- Global ecommerce sales are projected to account for 22% of total global retail sales by 2023. (source)
- The country with the highest ecommerce CAGR is Turkey. (source)
- As of March 2022, 63% of online shoppers look on Amazon to start a product search. (source)
- By 2024, it’s estimated that 90% of purchases will be made online. (source)
- 85% of online shoppers have started to buy on a device but conclude their purchase on a different device. (source)
- 48% of ecommerce buyers have spent more than they intended or bought something they didn’t plan to while shopping online. (source)
- 10% of online shoppers have bought something while intoxicated. (source)
- 43% of ecommerce buyers have bought something in bed, 23% have bought something while at work and 20% have bought something while in the car or in the bathroom. (source)
eCommerce and Email Marketing
- 61% of consumers prefer to be contacted by email. 25% prefer social media. (source)
- Email marketing has an average 4400% return on investment, which works out to about $44 for every dollar spent. (source)
- When email campaigns are segmented to subscribers, they have a 760% revenue increase. (source)
- 45% of abandoned cart emails are opened. (source)
- 20% of traffic that drives ecommerce sales is the result of email marketing. (source)
eCommerce and Social Media Marketing
- The global social commerce market is expected to increase by 34% in 2023. (source)
- Social media referral traffic toward ecommerce platforms has increased over 100% in the last two years. (source)
- 30% of online shoppers have directly bought from Snapchat, Facebook, Instagram, Twitter or Pinterest. (source)
- 50% of Millennials will buy something on social media. (source)
- 37% of 18-34 year old internet users have bought something online through social media channels. (source)
- Ecommerce platforms with a social presence make 32% more sales than comparable companies with a social presence. (source)
eCommerce and Product Reviews
There are numerous product categories in which online shoppers want expert product reviews to make purchase decisions. These, and the corresponding percentage of shoppers who want them, are:
- Electronics: 44%
- Financial Services: 44%
- Beauty Products: 32%
- Home Improvement: 28%
- Food/Beverage/Grocery: 23%
- Apparel: 22%
(source)
eCommerce: Reputation and Branding
- 95% of customers will read reviews before they buy something. (source)
- With every one star increase on Yelp, businesses see a 5-9% revenue increase. (source)
- 89% of online shoppers read a company’s replies to online reviews. (source)
- 86% of online shoppers say that “authenticity is important” for brands they support. (source)
- 81% of online shoppers say that trust impacts their buying decisions. 67% say they will stop buying from a company they feel they can no longer trust. (source)
eCommerce and Ad Performance
- Search advertising was $104.8 billion globally in 2019 and is expected to grow to 137B by 2022. (source)
- Google’s net U.S. digital ad revenues fell by 5.3% in 2020, a dip many analysts credit to two competing platforms: Amazon and Facebook. (source)
- 90% of people online see Google ads. (source)
The top reasons people click on paid search ads are:
- 33% say it answered a search question
- 25% say it mentioned a brand they were familiar with
- 20% say because it is listed above other results
- 19% say because it had a compelling image, title or description
(source)
eCommerce and Conversion Rates
According to the Adobe Digital Index, here are the 2020 stats for conversions for buying categories on ecommerce platforms:
- Gifts: 4.9%
- Health/Pharmacy: 4.6%
- Apparel and Footwear: 4.2%
- Other: 3.4%
- Sports: 3.1%
- Jewelry and Cosmetics: 2.9%
- Major Chains: 2.3%
- Home Furnishing and Decor: 2.3%
- DIY & Tools: 1.7%
- Consumer Electronics: 1.4%
The overall average is a 3% conversion rate for retail. (source)
Research from Episerver, which assessed 1.3B unique shopping sessions from 159 ecommerce sites, reveals the following conversion rates based on traffic source:
- Direct marketing: 2.1%
- Email marketing: 2.5%
- Organic search: 2.6%
- Paid search: 2.6%
- Referral traffic: 3%
- Social media traffic: 1.1%
- Display: 0.3%
(source)
eCommerce and Augmented Reality
- E-retailers are expected to spend over $60B on augmented reality.
- 61% of online shoppers prefer augmented reality technology on ecommerce sites.
- 63% of online shoppers feel that augmented reality improves the shopping experience.
- 35% of online shoppers would shop online more with augmented reality.
- 22% of online shoppers say that they would favor ecommerce sites over physical retailers if augmented reality was more available online.
- 77% of online shoppers say that augmented reality would be a preferred way to preview variations in products, like different styles or colors.
- 40% of online shoppers say that augmented reality is worth paying more for a product.
(source)
The Bottom Line
Ecommerce is a booming industry, poised only to get bigger, and having your eCommerce marketing strategy dialled in will be the key to success.
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