5 Powerful Ecommerce Statistics That Will Guide Your Strategy in 2020

Data is incredible.





With it, you can make informed strategic decisions that will pay dividends in the future. Without it, you must resort to guesswork that may cost you dearly.


Still, not all data is created equal.


Many of the statistics touted online can be at best outdated, and at worst wildly inaccurate.

What’s more, even when you have relevant, accurate statistics, it can be difficult to quickly extract effective strategic insights.


That’s why we’ve created this article.


In it, you’ll learn 19 up-to-date ecommerce statistics and the best strategies to take advantage of them. Plus, we also provide killer resources to help you implement these strategies today.

Buckle up.


Ecommerce Statistic #1: It’s estimated that there will be 2.05 billion global digital buyers in 2020.


That’s a lot of potential customers.


In fact, with an estimated global population of 7.7 billion people, that’s about 25 percent of the world’s population shopping online.


What’s more, this number is rising rapidly and is expected to hit a massive 2.14 billion people in 2021.


Ecommerce Statistic #2: In 2020, ecommerce sales are expected to account for 15.5 percent of retail sales worldwide.


In other words, ecommerce is slowly taking over.


This statistic clearly shows how ecommerce is becoming a more and more important part of global commerce.


It’s growing so quickly that it’s expected to make up a whopping 17.5 percent of retail sales worldwide by 2021.


Ecommerce Statistic #3: Nearly half of American small businesses do not have a website.


With so many businesses slow to capitalize on the growing ecommerce trend, this is great news for new and existing ecommerce entrepreneurs.


The Key Takeaway: Businesses without websites should set up an online store before they’re left in the dust.


Ecommerce Statistic #4: The number one reason people shop online is that they’re able to shop at all hours of the day.


Other key reasons include the ability to compare prices (54 percent), lower prices (46 percent), to save time, and the convenience of not having to go out shopping.

In other words, the strength of ecommerce lies in its convenience.


The Key Takeaway: Make sure that your customer experience is built for convenience.

Shoppers should find the process simple and intuitive. This also means providing fast shipping and hassle-free returns.


To make things even more convenient, instead of trying to entice shoppers to visit your website, take your store to them.


Ecommerce Statistic #5: 65 percent of shoppers look up price comparisons on their mobile device while in a physical store.


This is great news for ecommerce businesses.


Why?


Well, without the costs of maintaining a physical store and large inventory, ecommerce dropshipping businesses are able to keep overheads low.


This means they’re often able to provide lower prices for customers.


So how can ecommerce entrepreneurs take advantage of in-store shoppers comparing prices online?

The Key Takeaway: Advertise your products where shoppers who look up price comparisons will see them.


IF YOU NEED AN ECOMMERCE STORE AND WANT TO START SELLING PRODUCTS ONLINE OR GET YOUR SERVICES ONLINE CONTACT OUR TEAM TODAY TO HELP.

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