E-commerce has been with us for a while but the social web and mobile phones have supercharged its growth.
To put this in perspective the rise of the smartphone means that in the UK an estimated 24% of retail ecommerce sales are via the mobile in 2014 and it is expected that this will hit 35% by 2017! It is also estimated that the growth of online shopping will surpass the “bricks and mortar” retail rate for the next 5 years.
So what are some other ecommerce facts and statistics you need to know to ensure you are focusing on the right optimization tactics and opportunities?
Ecommerce facts and statistics
- In the USA the e-commerce annual growth rate is nearly 17% per year
- It is estimated that this year 2014 there will be $220 billion in sales online in the USA
- By 2017 the annual revenue for online retail will hit $370 billion
- E-commerce sales in western Europe are expected to grow at a compound annual growth rate of 11%
- Online retail sales are already 13% of the total UK economy
- Retail online sales will reach 15% of retail revenue by 2017 in the UK
- Italy and Spain are the laggards in Europe with only 1% and 2% respectively
- In the USA in 2017, mobile will account for 26% of US ecommerce sales (excluding travel and events). Currently it is 19%
- Tablet e-commerce will increase by 300% this year 79.5 million US Internet users will buy goods and services on their mobile devices
- 70% of “SMB’s” with websites had sites that were not mobile optimized
- 61% of global Internet users research products online
- 44% of all shoppers begin by using a search engine
- According to research by Ascend2, quality content was the most effective SEO tactic
- An Outbrain study shows that search is the #1 driver of traffic to content sites beating social by 300%
- SEO leads have a 14.6% close rate vs outbound such as email or print only registering a 1.7% close rate
- We conduct 131 billion searches a month
- An average of 30% of traffic comes from Google search
- Facebook is responsible for 60% of all social traffic, Polyvore 20% and Pinterest 15%
- 30% of Twitter users begin tweeting about holiday shopping before the October sale season in the USA
- Half of social media driven purchasing happens within one week of sharing, tweeting, liking or favoriting the product
- 43% of in-store purchases from Facebook were at discount retailers compared to 14% at department stores
- In 2000, the ecommerce sites had conversion rates of around 1%
- In 2013 ecommerce conversion rates are approximately 3%
- Conversion rates for traditional are 3%, with tablets at 2.59% and smart phones at 1.01%
- A study showed that satisfied customers tell 9 other people about their positive experience
- Dissatisfied customers are likely to talk about their negative experience with 22 other people!
- You are 60-70% more likely to to convert an existing customer, while it is only 5-20% likely to convert a new customer
- Repeat customers spend 300% more than new customers
- Boosting retention rates by just 5% can increase profits from 25-95%!
- 2 out of 3 Internet retailers have adopted drop shipping as their primary method of order fulfilment
Infographics source: Socialtimes.com
What about you?
How are your conversion rates? Have you optimized your ecommerce site for mobile? Are you paying enough attention to search?
Could you do better?
Look forward to hearing your stories and insights in the comments below.