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52 ecommerce stats every business should know to grow 0

Posted on May 08, 2017 by Rob Petersen

ecommerce stats

Ecommerce stats show we buy more online from more devices in more places and at more times of the day than ever before. And this migration is going to continue.

But ecommerce consumers are savvier. They have high expectations and demands that, if not met, cause them to go elsewhere and not likely to return.

To help your business get the most from this movement, here are 52 ecommerce stats every marketer should know to grow.

WHO BUYS? AND HOW MUCH?

  1. $394.9 billion are ecommerce sales for 2016, an increase of 15.1 percent from 2015. (U.S Department of Commerce)
  2. 191.1 million U.S. online buyers. (Statista)
  3. 98.9 million online buyers who have purchased at least once via a mobile device (Statista)
  4. $1,800 in the U.S. and $1,600 in the U.K. is how much the average eCommerce consumer spend per customer over the course of the year  (Statista)
  5. 80% of the US population has made an online purchase; 50% have made more than one. (Business Insider)
  6. 67% of Millennials and 56% of Gen Xers prefer to shop on online rather than in-store. (Big Commerce)
  7. 54% of online purchases are made by Millennials. (USA Today)
  8. E-commerce sales in 2016 accounted for 8.1% of total sales compared to 7.3% of total sales in 2015. (U.S Department of Commerce)

WHAT ARE BUYING BEHAVIORS?

  1. 51% of Americans prefer to shop online. (Big Commerce)
  2. 58% of consumers say their least favorite part of shopping online is paying for shipping. (Small Biz Trends)
  3. 55% of consumers would rather interact with technology in store than a sales associate. (Forbes)
  4. 49% of parents say they cannot live without online shopping. (Big Commerce)
  5. 46% of online shoppers read social media reviews and blogs before purchasing online. (Selz)
  6. 46% feel online review help make them feel confident about their purchase and 45% feel they make companies be accountable to their customers. (Pew Research)
  7. 39% of Americans have shared their experiences or feelings about a commercial transaction on social media platforms. (Pew Research)
  8. 30% of all products ordered online are returned as compared to 8.89 percent in brick-and-mortar stores. (Small Biz Trends)
  9. 25% of online shoppers are age 54 or older. (IBM)
  10. 23% of shoppers are influenced by social media recommendations/reviews. (Big Commerce)

WHERE ARE WHEN DO THEY BUY?

  1. 85% of customers start a purchase on one device and finish it on another. (Google)
  2. 82% of Americans consult online ratings and reviews when buying something for the first time. (Pew Research)
  3. 72% of Millennials research and shop their options online before going to a store or the mall. (Forbes)
  4. 65% of Americans indicate that when they need to make purchases they typically compare the price they can get in stores with the price they can get online and choose whichever option is cheapest. (Pew Research)
  5. 62% of smartphone users have made a purchase online using their mobile device in the last 6 months. (Outer Box)
  6. 44% of retail internet minutes were spent using a smartphone device, while 11% were spent using a tablet, as compared to just 45% spent using a desktop. (IBM)
  7. 43% of online shoppers have made a purchase while in bed. (Big Commerce)
  8. 43% of e-commerce traffic comes from Google search (organic) and 26%  comes from Google Adwords. (Wolfgang Digital)
  9. 40% of Americans (and roughly half of those under the age of 50) indicate that they nearly always turn to online reviews when buying something new. (Pew Research)
  10. 23% of online shoppers have made an online purchase at the office. (Big Commerce)
  11. 20% of American online shoppers have purchased from the bathroom. (Big Commerce)
  12. Only 11% of users access the Internet via desktop only – almost all users are using multiple devices. (comScore)
  13. 22% of consumers spend more as a result of using digital; just over half of these shoppers report spending at least 25% more than they had intended. (CMO)

WHAT ARE EXPECTATIONS?

  1. 92% of U.S. customers would consider delivery within 2 days to be ‘fast delivery’, but only 18% would consider delivery within 5-7 days as fast. (Criteo)
  2. Over 90% of people buying on Amazon wouldn’t purchase an item with less than three stars. (Feedvisor)
  3. 75% of reviews on eCommerce sites give the full 5 stars. (YOTPO)
  4. 71% of shoppers believe they will get a better deal online than in stores. (Selz)
  5. 69% of online shoppers want more reviews from ecommerce sites. (Big Commerce)
  6. 66% of online shoppers have decided not to buy an item because of shipping costs. (Big Commerce)
  7. 44% will abandon their shopping card if the shipping cost is too high or if there are unexpected additional charges. (Receiptful)
  8. 40% of customers are fine interacting with chatbots. (Forbes)

WHAT CAN YOUR BUSINESS DO TO BENEFIT?

  1. Using product videos on eCommerce sites can increase product purchases by 144%. (Small Biz Trends)
  2. 88% of shoppers characterize detailed product content as being extremely important. (Forbes)
  3. 74%of small business websites have no eCommerce. (Small Biz Trends)
  4. 60% of shoppers actually read your return policy before completing a sale, and the return policy ultimately influences 80% of the sale. (Small Biz Trends)
  5. 60% of consumers have completed a “buy online” to “pickup in-store” purchase via mobile. (Forbes)
  6. 50% of mobile coupons that are redeemed are captured from a retailer’s site by the consumer. (Neilsen)
  7. 58% of the Top 1000 US online retailers send welcome emails. (Internet Retailer)
  8. 39% of smartphone users have redeemed at least one digital coupon in the past year. (Neilsen)
  9. 30% of mobile shoppers abandon a transaction if the experience is not optimized for mobile. (Marketing Profs)
  10. 30% of mobile coupons are obtained from specialty sites like Groupon and Living Social. (Neilsen)
  11. 20% of grocery store sales are expected to come from online by 2025. (CNBC)
  12. At least 15% of retailers will offer a price match guarantee. (Biz Journals).
  13. Online sales in the United States are expected to reach $523 billion, up 56% from $335 billion in 2015. (Forrester)

To know what’s next in ecommerce, here is an infographic from the Villanova School of Business.

Do these ecommerce stats you see how your business can benefit. Do you need building an ecommerce plan for your business?

ecommerce stats

12 surprising stats for brands that learn social media skills 5

Posted on April 24, 2011 by Rob Petersen

Peter Drucker (at right) said:  The purpose of a business is to create and keep a customer.

How would Peter say brands that do business online are doing?

The trend is brands continue to do more business online, Despite a weak economy, online sales have grown for five consecutive quarters and, in the 4th quarter of 2010, online sales were a record breaking $43.4 billion, +11% versus year ago, according to comScore.

But statistics show for companies that learn social media skills, the benefits are a lot greater.  If you have a brand that has an online presence (and who doesn’t), these stats give direction on how to better manage your time, resources and marketing dollars.  More important, they show how to create and keep more customers now and for some time to come.

Here are 12 surprising stats that show the benefits to brands that learn social media skills.

  1. TRAFFIC TO COMPANY WEBSITES IS -23% IN THE PAST 12 MONTHS.  More business is moving online but the company website is clearly becoming less relevant.   
  2. 25% OF TIME PEOPLE SPEND ONLINE IS ON SOCIAL NETWORKS. That’s up from 15% a year ago and shows pretty directly where all that traffic away from company websites is going.
  3. 40% OF COMPANIES NOW DRAW MORE TRAFFIC TO THEIR FACEBOOK PAGE THAN THEIR WEBSITE.  According to the Harvard Business Review, it’s part of our DNA as human being to want to share our brand experiences with others.  The numbers show more people would rather learn and stay in touch with brands through social networks than listen to the company speak of corporate websites.
  4. 22% OF COMPANIES  NOW HAVE A BLOG BUT THE AVERAGE RATE OF POSTING IS 1X/YEAR.  That’s over 1 in 5 but the average publishing rate is 1 in 52.  The business building potential of blogs has not even been touched.
  5. ONLY 30%  OF COMPANIES CLAIM TO USE SOCIAL MEDIA MONITORING TOOLS TO REPORT CONVERSATIONS ABOUT THEIR BRANDS TO THEIR MANAGEMENT.  Social media offers brands the opportunity to fish where the fish are but not if you don’t listen to where the conversations are occurring.
  6. 57% ADMIT THEIR BRANDS ARE AT RISK NOT USING TOOLS TO MONITOR CUSTOMER CONVERSATIONS.  This may occur for a variety of reasons: 1) Not enough time, 2) not enough resources or 2) lack of knowledge about specific monitoring tools.  With over half admitting their brands are as risk, the liklihood some progress is going to occur is good.   
  7. THE #1 REASON PEOPLE PRESS THE A FACEBOOK “LIKE” BUTTON IS TO RECEIVE PROMOTIONS AND DISCOUNTS.  In other words, when consumers are on Facebook, what we are saying to brands is “talk to me because if I like what you do for me, I’m going to be your biggest fan.”
  8. BRANDS THAT USE FACEBOOK FOR ECOMMERCE ACHIEVE 2%-4% CONVERSION (ON PAR WITH ECOMMERCE WEBSITES) AT NO COST THROUGH WALL POSTS.  The same conversion rate for no money.  Sounds like a no-brainer to me.
  9. FACEBOOK STORES (A SIMPLE, FREE OR LOW COST ADDITION TO A FACEBOOK PAGE) TYPICALLY SECURE 1-10% OF A BUSINESSES’ FAN BASE.  This is perhaps one of the best illustration that social media can be used for social commerce.
  10. OVER 40% OF THE TIME PEOPLE ARE ON TWITTER, THEY ARE LEARNING ABOUT PRODUCTS/SERVICES OR PROVIDING OPINION ABOUT BRANDS.  That’s close to half the time consumers are on Twitter..
  11. PEOPLE SPEND 20% OF THEIR TIME ON TWITTER BUYING PRODUCTS:  Here’a all the brand related reasons people go to Twitter.
  12. THE RATE OF GROWTH FOR “SOCIAL COMMERCE” (SALES THROUGH SOCIAL NETWORKS) IS PREDICTED TO INCREASE +56% ANNUALLY FOR AT LEAST THE NEXT 5 YEARS.  That’s far above the increase in online sales noted at the top of this post.  It is expected to continue at this pace for some time as the chart before for Booz & Company illustrates.  Said another ways, brands that use social media for sales are going to more than double their business every two years.

The sources for this statistics comes from a variety of companies and individuals.  They include: Booz & Company, comScore, ExactTarget, Harvard Business Review, Marketing Profs, Silicon Alley Insider, Social Media Examiner, WebTrends, Mike Stelzner, Ann Handley and Jeff Bullas with my thanks.

Do these stats surprise you or cause you to want to learn social media skills for your brand?

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