Every single business owner knows that staying up-to-date with trends is vital for success. This is especially the case with ecommerce websites because they rely on what works in the industry and what does not work to generate profits. Even if you use the best multi vendor marketplace platform, neglecting trends leads to problems. Here are some very important ecommerce statistics that you should be aware of if you own such a business.
2 Billion Online Buyers Are Expected In 2020
Statista conducted a study and showed that the official expectation is that we will reach close to 2.05 billion digital buyers around the world in 2020. In 2014, the number of digital buyers was 1.32 billion and we will most likely reach over 2.14 billion by the time we hit 2021.
Because of the current coronavirus pandemic, we can fully expect more than what is predicted. Cost-savings and convenience prompt people to turn to ecommerce. Also, the internet is getting faster and faster while mobile devices become more affordable. These things facilitate the entire process.
The Value Of Retail Ecommerce Sales Is Expected To Reach $4.13T In 2020
There is a consistent growth seen in ecommerce at a global rate. If the 2 billion online users statistic was not impressive for you, how about the fact that the total sales value for ecommerce sites should reach $4.88 trillion by 2021? This is quite a large rise since the $1.34 trillion we saw in 2014.
14.1% Of All Global Retail Sales Were Ecommerce Sales In 2019
Besides value, we can also take a quick look at volume. It is interesting to see the constant growth in ecommerce retail sales, all at a constant steady growth. In 2015, online sales were just 7.4% of the entire global retail sales volume. In 2018, we were already up to 11.9%. By the year 2021, it is expected that the global share will be 17.5%. Obviously, because of the current pandemic, the number might be very high.
95% Of All Things Bought Will Be Online By 2040
This is, perhaps, the most important statistic we should all be aware of. We expect close to all commerce to move on the internet in the following 20 years. At the same time, we expect to see most of the purchases being carried out through mobile devices. Nasdaq points out that by 2040 we will see 95% of all things purchased being done through online sales. If you want to be in business, you have to prepare for this as soon as possible.
The World’s Largest Ecommerce Market Is China
The ecommerce market value of China in 2017 was around $672 billion, according to Shopify. This makes up over 40 percent of the retail ecommerce revenue generated around the world. The second-largest ecommerce market is the US, with a 2017 market value put at $340 billion. When looking at Europe, we have the UK at the top spot. The country is also the third in the world, having a market value put at $99 billion.