These Shocking Ecommerce Statistics Could Be The Key To Improving Your Business
Online businesses need to keep their brand in the spotlight. Particularly when faced with incredible levels of competition. What’s the best way to do this? You can start by keeping up to date with the latest trends. Here are some revealing statistics that highlight where online shopping will be in 2020 and beyond!
1. Sales Expected To Reach 4.5 Trillion By 2021
This figure provides clear evidence of a severe level of competition that is only growing. With so many choices, customers are always forced to select one brand. You need it to be yours. Online shopping isn’t slowing down.
2. Google Shopping Boosts Conversions By Over 17%
Optimizing for Google shopping is essential. Especially when you consider that most of your customers will arrive from paid or organic searches. You can use the Google Merchant Center to sign up and get started here.
3. 35% Of People Want To Virtually Try Products
Try and buy is like AR. It provides customers with a feel for a product before they purchase. Through the latest tech, it is possible to see them wearing something on a digital display. This is already popular with companies selling glasses. More prominent brands like Amazon are experimenting with furniture options too.
4. 22% Of Customers Want Ecommerce Sites To Offer AR
Customers are more likely to visit a brick and mortar store if you offer AR. It allows customers to see a virtual model of a product. AR is also improving rapidly. The latest cellphones of 2020 are expected to lean hard into this tech.
5. 50% Of American Shoppers Use A Mobile Device
Online shopping allows customers to buy anywhere. So, it’s not surprising people choose to use mobile devices. In Europe, 55% are buying on mobile. Winning customers on mobile requires:
- An optimized site
- Fast speeds
- Easy purchases
6. 20 – 30% of Customers Want To Buy A Product Recommended by Influencers
Customers trust celebrities when buying products. To benefit here:
- Research influencers with a strong base of followers
- Engage with them through social media
- Ask them to promote or even review your product
7. Voice Shopping Will Grow To 40 Billion By 2022
Voice purchases are expected to grow by 55% by 2022. Spending on voice shopping has already increased in the UK. It seems to be mainly accessed as a sales channel. So, rather than searching for products, they are buying items already decided on.
8. Making Shopping More Personal Lifts Revenue By 25%
AI is expected to be a significant part of the market by 2022. It can be used to provide more personal experiences and reduce bounce rates. This can even help replicate human value experiences often lost through online shopping.
9. 55% Of Shoppers Have Bought Directly Through Social Media
Forget about your website. Many shoppers will never reach it. They might buy directly from a post you put online. Plenty of platforms are now making it easier than ever to complete buys through social channels. Alternatively, customers can click on a product promoted and be linked right to the purchase page.
10. Afterpay Increases Conversions By Between 20 and 30%
Customers want easier to purchase options. This is particularly true for more expensive products. Particularly, if they can be viewed as a risk. Afterpay provides flexibility and makes large purchases easier to handle.
11. 87% Of Consumers Want Green Products
It’s not just green products either. Customers are desperate to buy from companies with a strong and clear social message. They care more about sustainability and businesses playing a role in improving the world.
12. 4 In 10 Consumers Use At Least One QR Code Each Month
QR codes are not new tech. They were invented in 1994. However, they have remained popular and are making a comeback. This is particularly true for the critical buying demographic of 18-25-year-olds.
13. Artificial Intelligence Spending Will Hit $7.3 billion per anum by 2022
AI could provide substantial competitive advantages for brands. Companies have already used AI to improve marketing performance as well as customer engagement. The focus is going to be on delivering an experience unique to each customer in 2020.
14. 80% Of Businesses Expected To Use Chatbots in 2020
Chatbots provide a range of benefits, including:
- The chance to quickly provide critical information
- Easy website navigation
- Options to engage users
This can lead to a reduced bounce rate and an overall improved customer experience.
15. The Average Ecommerce Conversion Rate Is 2.77%.
Businesses must continue to track their rates and make changes to increase them. Ecommerce optimization is the best way to improve these numbers. Sites should be continually evolving and changing.
16. 88% Of Marketers Are Satisfied With The Returns From Video Content
There are countless ways you can use video content. Adding a video to your homepage can make a site more dynamic, immersive, and engaging. It can even reflect critical concepts and ideas connected to your brand.
17. 58% Of Customers Love Shopping Online Due To Accessibility
Your site must always be available to them. Ecommerce owners are putting more focus on keeping their sites secure and free from hacks. Particularly attacks that could put their business offline.
18. 85% Of Customers Complete Research Before Shopping Online
Customers still research what they want to buy before committing. A key area of focus is online reviews. Research shows mixed reviews are more effective than no reviews at all. A lack of information suggests severe issues with your product and low interest.
19. Social Proof Is Important To 81% Of Shoppers
Customers trust the words of various people in their life. This may include:
- Family members
- Followers online
Positive customer experiences are more important than ever to get the necessary referrals. You must protect your business reputation.
20. 69% Of Carts Are Still Being Abandoned
Finally, there are various ways to solve the issue of abandoned carts. This includes:
- Chatbots – Providing answers to critical questions can stop customers from thinking twice.
- Email marketing – You can remind customers of a product they were going to purchase.
- More payment options – A lack of choice is one of the most common reasons for a missed sale.